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Potential Opportunities in Life Sciences Stemming From COVID-19 Pandemic

Published by Milos Todorovic, PhD and Serban Georgescu, MD, MBA | 2020-04-29 17:06:07

Filed under: COVID19Life Sciences 

Out of every crisis, a new opportunity arises. As the health care systems are struggling to cope with the challenges brought about by the COVID-19 pandemic and the life sciences industry is refocusing its priorities on the fly to help in the fight against the coronavirus, innovative technology developers should look beyond the current crisis for opportunities that will arise once the dust settles. We expect that several market segments will in particular benefit in the coming years and the industry stakeholders – tech developers, investors, health care providers, and payors – should focus on:

Most of these drivers have existed before the current pandemic, but did not work in concert to promote POC adoption. We expect to see a marked increase in interest for POC tech in the coming months and years. That said, developers will still have to solve some of the major challenges, particularly the higher per-test cost.

In addition to shifting technology trends due to the COVID-19 pandemic, we expect to see changes in how the industry is governed/regulated. In particular, it is highly likely that the global regulatory bodies (FDA, Health Canada, European Medicines Agency, etc.) will change the rules of adoption of new technologies, speeding up approvals, especially in sectors deemed to be of strategic importance. We are already witnessing ad hoc changes implemented on the fly; expect that many of those will be re-evaluated and tweaked with the intent to make them permanent. We also expect to see much stricter guidelines on the use of animals in medical research, especially as they pertain to animal handling and housing.

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