The Value of Health Innovation to Enable Healthy Aging
Dr Michael Devoy
Executive Vice President of Medical Affairs & Pharmacovigilance for the Pharmaceuticals Division
at Bayer AG and Chief Medical Officer of Bayer AG
Dr Michael Devoy is the Executive Vice President for Medical Affairs and Pharmacovigilance for the Pharmaceuticals Division at Bayer AG. He is also the Chief Medical Officer of Bayer AG. Dr Devoy joined the former Schering AG in 2005 as Senior Vice President of Global Medical Development and was appointed to his current position in 2014.
Dr Devoy studied Medicine and Pharmacology at University College London and graduated with a Bachelor of Medicine/Bachelor of Surgery (MB, BS). He is a member of the Royal College of Physicians in London.
Dr Devoy has extensive experience across Clinical Development and International Medical Affairs. His career in the pharmaceutical industry began when he joined Glaxo Group Research in Clinical Pharmacology.
The symposium on The Value of Health Innovation to Enable Healthy Aging will leverage the diverse expertise of scientists and leading experts from academia, industry and public health to discuss and expand the bandwidth of the topic ‘health innovation’ in the context of population aging. The purpose of this panel is on the one side to demonstrate the implications and challenges of the demographic shift on society, but on the other side highlight opportunities arising through health innovation, technologies and preventive strategies. A perspective from a patient who is currently navigating the healthcare system will balance insights and perspectives from content experts. This real-time feedback of their current experience will help to identify opportunities where innovation can improve the patient journey. The session will end with a glimpse into the future of healthcare technology.
‘Health innovation’ conjures up the image of new frontiers of health and even solutions to the most complex issues of growing older with comorbidities. While the term has evolved throughout history, with time it has newfound prominence in the media, academia and governmental settings. The World Health Organization (WHO) defines health innovation as identifying new or improved health policies, systems, products, technologies, services, and delivery methods that improve the health and wellbeing of people. It’s not only about products, it’s also about new ways of thinking, working and responding to a specific unmet medical need across the population of older people yet most particularly to vulnerable populations, which are intrinsic to this new narrative.
Around the world, populations are experiencing a dramatic shift, with large cohorts of older people outnumbering younger demographics. In the context of population aging, the unmet medical need in the area of age-related and chronic diseases is tremendously impacted by a rising disease burden worldwide. Health innovation as well as the application of science and technology can create an enabling environment that give rise to healthier older people. Hence, driving scientific and medical innovation plays a central role in shaping the future of aging societies. In addition, awareness for how to live a healthy lifestyle and taking the responsibility for one’s health is key to preventing chronic diseases and prolonging life. It’s relevant to have all stakeholders involved in a joint approach in addressing the needs arising from demographic upheavals.