There’s a good chance you’ve been dealing with the immediate needs of responding to the coronavirus pandemic. And with all the uncertainty, you don’t know what to plan for.
When we come out of this crisis, it will be into a changed world. No one knows what that world will look like, but from the medical device/healthcare perspective, we can make some educated guesses.
What does the future look like?
The economy will open up gradually. Some social activities will resume, but not on a widespread basis until the infrastructure and means for extensive testing is in place. Even then, we’ll need a vaccine before we get back to anything close to the old normal. Because the incubation period is long, people will need to be tested multiple times. Right now, sample analysis is slow. What we need is an inexpensive rapid test that people can employ on a daily basis. Can you do anything to support that pipeline? You have opportunities then.
Also needed is a system for tracking individuals so that those that test positive can remain separate from those that test negative. Self-quarantining will need to take place. This raises all kinds of questions around privacy and personal freedom.
Beyond the current crisis, people will be concerned about the reoccurrence of Covid-19 in the relative short term, and the possibility that new pathogens could arise beyond that. There will be a lot of invention and innovation throughout the medical/healthcare industry because of those things. Even though the curve is being flattened, medical device companies that are anticipating necessary medical devices should focus their planning and future efforts on areas such as:
- Diagnostic instruments, especially point-of-care
- Sample collection devices and test kits/materials/methodologies
- Devices for pulmonary therapy
- PPE: masks, garments, eye protection
- Decontamination systems
- Rapid response and triage systems
- Telemedicine solutions
- Population health monitoring solutions
There are shortcomings in all of those areas — and more — that are ripe for remedy and innovation. If you’re interested in learning how Forma can help prepare you for this outcome, don’t hesitate to contact us.