Thrusting with Two Fine Propellers

Sujith Vasudevan, Managing Editor

Beyond any reasonable doubt, for the core healthcare infrastructure to constantly improve, the two propellers of the healthcare industry—diagnostics and pharmaceuticalsneed to be on the cutting edge of things. One of the significant reasons for the healthcare industry to become what it is today— more evidence-based and clinical investigations-centric—is the tech advancements in the diagnostics industry. There has been a phenomenal rise in the use of technology, which has become an integral part of the sector’s efforts to improve customer experience and support clinical decisions.

In a recent interview with CEO Insights, Dr. Om Manchanda, Managing Director, Dr. Lal PathLabs, says, “There are two dimensions to how emerging technologies are transforming diagnostics. The first dimension is the service experience. Achieving faster turnaround time is a crucial aspect of improving customer experience. Hence, today, technology intervention is virtually in every aspect of the diagnostic cycle—ranging from process automation in the lab to mobile app-based experience.” On the other hand, the pharmaceutical industry has been under immense pressure ever since the first case of COVID-19 was reported. However, one of the silver linings of the pandemic was that it triggered more remarkable ways to research and develop vaccines. Eventually, the pharmaceutical industry came out all guns blazing, developing COVID-19 vaccines in record time. Technological advancements have been the most significant change. The pandemic forced the implementation of many technologies and innovations, which were just a part of the conversation otherwise. On the other hand, if it took around 5-7 years to launch a conventional vaccine or a therapy in the market, it has been reduced to less than two years. The omens couldn’t be better.