Promises to solve many medical problems with new drugs and procedures that will contribute to the spiraling costs of medical care.

Biotechnology.

Explanation:

Biotechnology may be defined as the field of biology that uses the living organisms to make product by using molecular techniques. Biotechnology involves the different field like  biomedical engineering, biomanufacturing and bioengineering.

The genetic system of the living organism can be modified to obtain the desired products. Artificial insulin is prepared by the application of biotechnology. The new drugs in the market and desired trait in the living organism can be prepared by the biotechnology field.

Thus, the correct answer is biotechnology.