As a comparative market sector, the biotechnology industry has some of the best growth projections when viewed over the next few decades. Stock benchmarks like the NASDAQ (which place a heavy focus on the tech sector) continue to outperform the Dow Jones Industrial Average. The initiation of biotech blockchain technology in the world of cancer healthcare remains relatively untapped.
From an investment perspective, the company is set to benefit from the broader trends that are now being seen in the biotech industry. To 2024, here is how growth rates in the biotech sector are expected to unfold:
To explain these trends, we can look to biology as a portion of the cause. As an aging population, we are experiencing much higher rates of cancer. This is something that should be important for patients, investors, and individual consumers.
Prostate Cancer in Men: What You Need to Know
Considered to be the most common type of cancer affecting men (next to skin cancer,) and the second leading cause of cancer death (next to lung cancer), prostate cancer is the condition where the prostate gland grows in an abnormally rapid manner. The prostate gland is only found in males and is responsible for synthesizing some of the fluid parts of the semen. Found in front of the rectum and below the bladder, the size of the prostate gland grows with age.
Because of this, the prevalence of the disease is more common in older men than it is in younger men. In particular, prostate cancer is most common in African-American men who are aged 65 years old (and above). According to official statistics, it is estimated that 1 in 9 men will acquire prostate cancer throughout his lifetime.
In the US alone, the American Cancer Society is predicting more than 160,000 new diagnosed cases, and more than 29,000 deaths from prostate cancer. With these alarming occurrences, it is just normal to feel afraid of what may happen. In order to give you more information, we’ve listed below some of the most important facts that you need to know about prostate cancer. Let’s take a closer look.
Prostate cancer does not only affect older men
As alluded to earlier, prostate cancer becomes more common as one gets older. According to studies, more than 65% of the total cases of prostate cancer are diagnosed in older men. However, it is important to note that age is not the only risk factor to take into consideration.
Other risk factors such as genetics, immunity and overall health, and lifestyle should also be noted. Interestingly, it was found that geographical location and race also affect the prevalence of prostate cancer. This is because of three important factors: testing prevalence, amount of UV light emissions, and diet.
Prostate cancer can occur without any symptoms
Frighteningly, prostate cancer is considered to be one of the most unpredictable cancer types as it can occur without any symptom at all. Aside from that, not all men manifest the same symptoms, and most of the time, the symptoms can be regarded as something else.
Basically, the most common symptoms of prostate cancer include frequent urination, difficulty in controlling it, painful ejaculation, and many more. Nevertheless, symptoms concerning urination do not always signify prostate cancer. So in order to be sure, it is still better to consult a physician.
PSA test is important
The prostate-specific antigen (PSA) test, as its name suggests, refers to the test that determines the level of the antigen produced in the prostate. Generally, the said antigen is synthesized in the prostate in order to manage any problems in the prostate gland. Some of these include infection (known as prostatitis), prostatic hyperplasia (enlargement of the prostate gland), and cancer.
Taking the PSA test is very important because it serves as the first stage in diagnosing prostate cancer. And like any other disease, prostate cancer is best treated during its early stages. Alternatively, there are also studies that have identified certain genes related to the etiology of this disease.
Blockchain Technology for Patient Record-Keeping
Traditionally, one of the problems cancer patients have faced is the inability to transfer records between doctors or substantial geographical distances (i.e. in different countries). Biotech stocks is a digital oncology company, which develops prescription-only, drug-specific digital therapeutics that improve medication adherence, quality of life, and outcomes associated with treatment drugs.
Recent developments at the company have solved many of these traditional problems in healthcare. All combined, this points toward a real need for industry disruption and for the building of social communities that are focused on the needs of cancer patients. Science has looked for these patients over time and this blockchain technology has the potential to reduce the rising cancer costs that are now being felt by patients.
Rising cancer costs
Recent monetary policy changes at the Federal Reserve suggest that consumer inflation levels in the U.S. have started to reach extreme levels. This is why the Fed raised interest rates at its March 2018 meeting. It also suggests that this will continue for long periods of time, given that we are still in the early parts of this normalization cycle with interest rates still at historically low levels.
The cost of healthcare has risen globally:
This means is will continue to be more difficult for patients to pay for their medical costs over time. The cost of healthcare is rising at a rate that is faster than the wage growth in the United States. For cancer patients, the cost of drugs has consistently risen over the last several decades. Here are some figures for the costs associated with some of the most commonly-prescribed cancer treatments:
As a practical example, the chart above shows the annual cost of a few of the most common cancer drugs. For some people, this is nearly equal to a year’s salary. If you have a debilitating illness like cancer, it can be hard to work and accumulate savings, so these are large sums of money for many people.
Fortunately, digital health communities can enable better records management, reduce costs, and improve the lives of patients. Working together, we can move forward in the fight against cancer.