The future of diagnostics and healthcare in the post-Covid era

Over the past several decades, healthcare has undergone significant change. The Covid-19 pandemic has received a tremendous amount of media attention and public awareness. The rise of this sector has been extraordinary and, more importantly, transformational.

Increasing public awareness has resulted in a high demand for healthcare services, increased interest from institutional investors, and government support for higher healthcare funding expenditures, all of which have contributed to the growth.

In fact, by 2025, public health spending is expected to reach 2.5 percent of the nation’s GDP.

The Covid-19 outbreak wreaked havoc and seriously disrupted society and the economy.

Diagnostic and pathology labs, once thought of as backroom lads, have become more significant.

This has been the bright spot for every lab employee amid all the doom. The phrase RT-PCR became well-known since molecular assays were the rage at the time.

The medical practice is now evidence-based. Diagnostic tests are now increasingly being used by clinicians to validate and direct therapy methods.

The rapid advancements in technology, growing public awareness of preventative healthcare, and a number of supportive government initiatives are the key reasons why the Indian diagnostics industry is expected to expand.

Is this the ideal period for Indian healthcare and diagnostics?
The coronavirus has completely changed the healthcare industry, transforming the diagnostic segment to provide more patient-centric solutions. The Covid-19 pandemic has accelerated the implementation of digitized diagnostics.

Demand for preventive care testing, the ease of scheduling home collection, and report delivery has significantly increased.

The aim is to provide each citizen with access to high-quality, reasonably priced diagnostics. Hospital chains, pharmaceutical corporations, web aggregators, and even start-ups are among the new competitors ratcheting up the level of competition, compelling the more established businesses to revisit their diagnostic approaches and develop more avant-garde ones.

Recently, there has been a significant increase in the application of genomics and molecular testing. The Indian market for molecular diagnostics is anticipated to expand at a CAGR of almost 10 percent through FY2026. As more accuracy is attained in the clinical setting, the impact of genomics on the field of oncology is continuing to rise.

Given the gap among urban and rural areas in India, providing healthcare poses unique challenges.

The evolving healthcare and diagnostic facilities must be adapted to Tier-II/Tier-III cities, smaller towns, and rural geographies, updating of technological innovation, and adapting to newer, inventive tools.

Redesigning healthcare-delivery systems with the goal of providing more comprehensive care solutions to its users and improving the affordability and accessibility of healthcare and diagnostic services.

Data-driven diagnostics (DDD) has the potential to enhance clinical outcomes as well as the effectiveness and efficiency of healthcare services, and healthcare leaders are beginning to recognize this. Players in the market are working really hard to make home sample collection and healthcare delivery accessible for everybody.