Nanotechnology as a solution for global healthcare improvements

¶ … million into a critical emerging area of health care, where the potential for major improvements can be realized with an infusion of funding. I am looking at the use of nanotechnology as a means of helping to address many critical health issues. Nanotechnology in terms of health care is concerned with the "novel phenomena and properties of material present at nanometer length scale systems through control of matter on the nm scale, and the direct application of nano-materials to biological targets (Menaa, 2011).

An example of nanotechnology in health care is the use of nano-sized biosensors in diagnostics. Devices can be implanted within the body to monitor any number of different biochemistry issues. This allows for faster diagnosis of ailments, for example. But nanotechnology assists in environmental monitoring, drug delivery, therapeutics, and more, by virtue of its ability to detect things and to do things from inside the body (Vashist et al., 2012). The development of nanotechnology is something that in the future could lead to things like pinhole surgeries, where a nanodevice would be inserted into the body and then perform a surgery from inside the body. The possibilities at this point are science fiction, but only marginally so -- there is tremendous potential in nanotechnology to transform health care.

Hunt (2006) notes, however, that there are ethical issues surrounding nanotechnology. As it requires a tremendous amount of financing, nanotechnology is often the realm of corporations, which means that its outputs are not necessarily available to all. Nanotechnology also carries with it significant risk. Part of the reason for putting more funding into nanotechnology is to reduce that risk, to improve the technology to the point where it poses limited risk, but delivers significant improvements to the health of others.

As with most health care initiatives, research is done by a combination of public and private labs, with a mix of funding as well. Charitable donations are common, as is venture capital financing, a mechanism by which my $100 million could go to a promising team of researchers who are building a business. Which route makes the most sense will be determined in part by which teams are at the forefront of nanotechnology development for health care, and whether they are corporate or not-for-profit (Chesborough, 2003).

The need for more funding for nanotechnology research derives from the fact that we have an aging population in many parts of the world (Grand View Research, 2014). So not only is there great potential in nanotechnology applications for healthcare, but there is great need as well, based on how it can help hundreds of millions of people to live longer, and to enjoy a higher quality of life.