New Age Implications For The Healthcare Industry In Covid-19

There are many research and studies going on by the futurists and analysts to render a comprehensive analysis in predicting the future of healthcare with the pandemic in perspective. The experts are taking into consideration the various actionable predictions and growth opportunities in the major healthcare segments throughout the phase of Covid-19.

The COVID-19 pandemic has made this clear that there are several gaps in our understanding of prevention, health and wellness. The world faced a crisis and the standard norms of prevention and treatment saw a lot of disruption. Even though there were certain speculations by the world organizations where they believed that the infectious illnesses is almost under control, the COVID-19 outbreak clearly stated how important it is to be constantly vigilant in identifying and preventing any communicable illnesses. This is what opened formulation of pharmaceutical solutions in the future and unknown growth opportunities for many pharma companies. Evidently, this disruption gave way to multiple opportunities along the healthcare value chain for even the most established market participants.

There are studies that suggest there should be new technologies, cases, and important regulatory pathways. The research sectors comprise of a number of industries including the pharmaceuticals and biotech, along with the medical technologies, in vitro diagnostics, medical imaging, and healthcare IT. The right kind of analysis can provide guidance on where to find the greatest opportunities for expansion in the healthcare industry.

There have been many changes in the healthcare landscape during the COVID-19. The short-term opportunities look at the responses that aim to cater to the current crisis however the long-term opportunities have raised from the strong, long overdue, transformational drivers. It goes without saying how COVID will just be a precipitating factor and bring about a long-term and permanent shift in the pharma industry and by extension the healthcare sector. The current pandemic also emphasizes on the clinical, operational, and financial value which are concentrated on a few countries and proving a significant lack of resilience.

 The study about the pandemic is global, and covers all of the major healthcare sectors - pharmaceuticals, in vitro diagnostics, patient monitoring, medical devices, medical imaging, and healthcare IT. The technologies and markets covered are AI in healthcare, healthcare data analytics, digital health, telehealth, supply chain optimization, agile manufacturing, connected care, clinical trials, managed services, API supply chain, patient engagement, POCT diagnostic solutions, virtual care, healthcare cloud, remote diagnostics, and XaaS business models.

Virtual clinical trials are greatly supported by telemedicine as direct-to- and direct-from-patient trial supplies/sample logistics services often calls for operational challenges. Pharmaceutical companies are now in the pressure of supplying drugs and devices for clinical trials. Unfortunately with higher physician workload and lower patient participation there is a farrago in the de-prioritization of ongoing trials.

Hospitals and medical device companies are also experimenting on remote patient engagement strategies that include virtual assistants, virtual rehabilitation, chatbots, telehealth for the management of patient care.