The IVD industry has been rapidly evolving over the past few years, and the next one year is expected to bring about significant changes in the industry. As a leading player in this industry (in our region), our lab has been closely monitoring the trends and developments in the market, and has formulated a comprehensive plan to stay ahead of the curve.
One of the key areas of focus for our lab in the next one year is the adoption of advanced technologies, such as molecular diagnostics, (one of the branches of modern Biotechnology concerned with understanding the Genetic Diagnosis, Molecular Diagnosis, etc.) which will help us to diagnose disease which were earlier either took close to 3 to 5 days for final diagnosis or remained undetected due to limitation of the available technology. In order to curb such issue, we are collaborating with Biomerieux for bringing latest technology. Not just only it will allow us to see beyond our vision to identify microbial involved but also it will reduce the turnaround time for the diagnosis.
One of the major issues was connecting directly with the patients in rural areas, who always lack quality diagnosis in affordable price, which leaves them vulnerable with diseases (which remains undiagnosed). With the agenda of expanding ourselves by opening multiple collection centers in different villages, we will be able to open up different routes to directly reach out to the patients and help them in diagnosing wide range of medical disorders, including infectious diseases, diabetes, oncology/cancer, cardiac diseases, autoimmune diseases, nephrology, HIV/AIDS, hepatitis C, hepatitis B, tuberculosis, syphilis, malaria, dengue, etc., were not able to get treatment on time causing the disease to reach the untreatable stage. This step is inspired from the government’s JEET TB Project (Joint Effort for Elimination of Tuberculosis), which provides free diagnosis and treatment. Patients were motivated to come out of their cocoon and meet directly with the doctors and healthcare workers for their treatment. Likewise, we aim to bring patients directly in contact with the specialized doctors, who can help curing and capping the disease at an early stage.
The major challenge to make expansion difficult is the transportation of samples from rural areas to processing centers in a perfect condition, which further adds cost. To curb this issue, we are working on building strong partnerships with other labs and the suppliers for joining hands to contribute success of this expansion. Our procurement strategy is bulk purchasing, which ensures to have access to high-quality material at competitive price, which majorly lowers down the processing cost. Also packing materials and cooling pads can be reused and sustained for a longer time, which will be a one-time investment. We are also planning to set up a robust supply chain to connect different routes. As frequency of government and private bus services has increased in the unreachable areas due to construction of concrete roads (thanks to our government), collaborating with them will provide us cheap transportation to extract sample to our main centers for processing.
Another area of focus for our company is the development of point-of-care (POC) diagnostic tests. With the increasing demand for rapid and accurate diagnostic tests, we believe that POC tests have the potential to transform the way healthcare is delivered, particularly in resource-limited settings. With the advancement in technologies in rapid testing and well established transportation, our center executive (in different areas) can approach patients more easily and effectively. It can provide faster time to diagnosis, an earlier start to treatment and a faster recovery for patients. POC enables decentralized testing for infectious diseases, STDs, and more.
In order to process samples in volume, it is as important to maintain quality standards as keeping the processing time short for providing accurate reports. Quality reporting will always remain our key contributing factor.
Overall, we are confident that our comprehensive plan, which includes a keen focus on advanced technologies, heavy and smart procurement, and introducing POC diagnostic tests, in unreachable areas, will enable us to stay ahead of the curve in the IVD industry over the next one year. We are committed to delivering quality diagnosis that improves patient outcomes and contributes to the overall advancement of healthcare.