Cancer is one of the biggest human afflictions. Every now and then, we need to stop by and see how far the medical, pharma and healthcare industries have gone in the global battle with this frightful disease.
In the USA and Europe, everyone knows that the food and drug producers’ business doesn’t end with their food or drug products launched for distribution and that any food or drug product should be labeled first.
This food and drug producers’ work is regulated in the USA and all European nations by specific government agencies to ensure that the safety measures are strictly followed and public health is safeguarded.
We’ll get started by jotting down two notes and a conclusion. First, a drug label is all the printed (and possibly digital) information included with any medication. We can simply describe it as the printed, or graphic materials upon a drug container or wrapper ─ which includes contents, indications, effects, dosages, routes, methods, frequency and duration of administration, warnings, hazards, contraindications, side effects, precautions, etc.
Is it true that biotechnology businesses are different from pharma companies? To answer the question, let’s cut the argument short. Even though both biotech companies and pharmaceutical businesses manufacture medicines at the end of the day, yet the drugs produced by pharma companies mostly have a chemical basis, while those made by biotech businesses usually come from living organisms.
Whether you call it “digital health revolution”, or “digital transformation of healthcare”, or even “healthcare digitalization” ─ the crux of the issue consists in groundbreaking digital health solutions, developed by innovators and researchers, that are fundamentally revolutionizing the way healthcare is delivered all over the world.
Medical translation is not merely important for medical and health care service providers but it’s essential for patients as well. Patients who speak different languages than their physicians need a way to communicate with them for better results. Translating medical documents like medical records, post-discharge instructions and access documents are now inevitable for cross-border healthcare services.
The life sciences sector includes companies engaged in biotechnology, environmental, life systems technologies, pharmaceuticals, biomedical devices, biomedical technologies, nutraceuticals, and cosmeceuticals. It usually refers to the organizations that are devoting themselves to research and development, commercialization and technology transfer in these areas.
There is no doubt about the immense importance of the pharma industry, which is making a huge impact on every and each individual, community and country across the globe. That’s why a wide array of stakeholders ─ individuals, governments, regulators and others ─ are constantly following the current developments of the global pharmaceutical market, whose revenue reached $1209 billion in 2017 and it’s expected to reach $2,457 billion by 2030, according to AASTOCK.
As we talk about the role of life science translation services within the life science industry’s global outlook this year and in the coming years, we’d certainly get inspired by the observation that the “medical device market in the EU accounts for one third of the global market, with around $122.5 billion (est. 2011) in yearly revenue” ─ according to the regulatory consulting firm, Emergo by UL,.