Diagnostics Industry – Trends & Shifts

Diagnostics Sector in India In India, diagnostics mostly comprises of pathology and radiology which are largely run by private players. Driven by demand and ability to pay, this sector has seen growth not only in metros or urban cities but also in tier 2 and 3 cities. Further, this sector is poised for a sharp growth owing to several factors:

  • The increasing incidence of lifestyle diseases as well as improvements in technology and diagnostic procedures
  • Increasing awareness amongst the population, shifting the focus to early diagnosis
  • Wellness and preventive healthcare gaining traction

Over the last couple of years, the market has grown at a rate of 15-20% and is at nearly INR 40,000 Cr. as of 2016

Gene Based Testing & Precision medicine

Newer technologies like genebased testing has resulted in precision diagnostics and medicine gradually gaining visibility across the globe. This approach unlike the conventional treatment doesn’t follow the ‘one size fits for all’ but emphasises on tailormade treatment for an individual. Though precision medicine has more traction in the oncology space, it is slowly spreading to other specialities and to preventive healthcare. Companies like Mapmygenome, MedGenome, etc are offering genetic tests and precision care, given the demand and implication in clinical practice.

The Indian Genomic Industry

It can be said that India is still at a nascent stage when it comes to genomics diagnostics as there are many complex diseases but not many organizations are addressing the same. With the humongous population that India has, there is a massive opportunity for this industry. Celebrities like Angelina Jolie are embracing this concept and endorsing it to create awareness amongst the masses. Owing to the trend these days of late marriages and hence late pregnancies, the demand for NIPT (Non-invasive prenatal test), preimplantation genetic screening (PGS), etc., to identify any genetic abnormalities early on, has gone up. However, the awareness and acceptance of genebased diagnostics is still low and will take time to pick up, but once it picks up, it will ultimately reduce the cost of treatment and benefit the larger population.

Digitalization

The second trend is the rapid digitalization that is equally pushing the boundaries in the diagnostics space. Digitization across diagnostics has improved access to diagnostic services and overall patient management in resource-limited settings whether it is by providing rapid diagnostic test results, standardizing the interpretation of results, ensuring testing quality, reducing interpretation and transcription errors or remote monitoring. Amidst this, Artificial Intelligence and Machine Learning will become stronger in independently diagnosing disease and deriving clinical treatment decisions. Examples of players in this space include mFine amongst others.

It’s all about Talent

The fast pace of development in this sector has created a demand for talented and highly skilled experts and technicians in this industry including professionals in bioinformatics, molecular biology, genetic counselling, geneticists etc. Given that this is a nascent space, talent from the more evolved international market and research and academic institutes and moving into the diagnostics space. Moreover, there is a growing demand for professionals who are ready to upgrade themselves and embrace the changes that innovation and technological development are bringing about in this space.

To know more, Click here

To read other such interesting articles and reports, Click here


Source: The Hunt Report Vol.14



Leave a Reply