Important Coronavirus Pandemic Lessons for the Diagnostics Industry

As we all know by now, the best way to help stop the spread of coronavirus is getting a coronavirus test done and wearing a mask, of course. A test reveals whether a person is negative or positive. A negative test result means an individual does not have the virus while a positive result means that one does have the virus.

As we have seen, a positive rest result warrants quarantine for a 2-week period during which an individual is observed or treated, depending on the severity of their symptoms. Around the world, 200 million tests have been performed. However, very few countries have been able to execute testing on a mass scale. The main reason behind this is not the unavailability of testing kits alone. Many countries have imposed restrictions such as lockdowns and social distancing guidelines and with economies struggling to stay afloat and most health sectors crippled, it seems the unanticipated virus has unveiled a lot of weaknesses in many sectors, especially in terms of preparedness.

Many countries are treating access to testing facilities as the main objective. This is to enable them to be better prepared if a second wave of the virus hits. The virus shed light on the challenges which are associated with creating and supplying diagnostic tests to the market, especially in such unprecedented situations.

That is why it is important that we learn from these problems, in order to find a way around them. This will ensure that the diagnostics industry is better prepared in the future.

For instance, the sudden rise in demand for diagnostic components at the peak of the pandemic showed the weaknesses in supply of important raw materials around the world. To tackle this, large manufacturers should strengthen their supply chains and make it more adaptable to unexpected increases in demand.

This may require implementing measures like:

  • Establishing alternative shipping routes that enable a quicker response to challenges in the swiftest way possible.
  • Assessing and implementing multi-manufacturing and multi-sourcing models. This will help secure essential raw material supply.
  • Having a transparent dialogue between assay developers and component manufacturers to help build confidence and decrease panic buying.
  • Investing in personnel and plants in order to establish solid operational foundations.

Additionally, the disparity in testing diagnostic performance showed the need for a close partnership between material and component providers and diagnostic developers.

The crisis has also shown the need for better preparedness with regard to local production of tests, and countries have pledged to have more effective and reliable manufacturing methods.

Regardless, there is a lot to be learnt from the pandemic by various fields, as shown by the numerous losses and mass closures, loss of jobs and general lack of planning that we have seen from the onset of the pandemic. Only time can tell what lessons biomedical companies like Predictive Oncology (NASDAQ: POAI) have learned.

About BioMedWire

BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.

To receive SMS text alerts from BioMedWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

For more information, please visit https://www.BioMedWire.com

Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: http://BMW.fm/Disclaimer

BioMedWire (BMW)
San Francisco, California
www.BioMedWire.com
415.949.5050 Office
Editor@BioMedWire.com

BioMedWire is part of the InvestorBrandNetwork.

Archives

Select A Month

BioMedWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 415.949.5050