Ashish Gujrathi
The COVID-19 outbreak was declared as a pandemic by the WHO on 11th March 2020, and social distancing was seen as a measure to contain the spread of SARS-CoV-2. As a result, the world witnessed nationwide lockdowns where non- essential businesses remained shut and people maintained strict social distancing. This led to a completely new scenario for the world, where every business in each industry faced new challenges and witnessed new opportunities. Similarly, the diagnostics industry, a vital part of the healthcare sector, suffered a great upheaval during the pandemic. The healthcare sector and diagnostics industry are closely interdependent and the latter attains a substantial share in the industry at large. Being so closely reliant, the impact on diagnostic sector was reflected on a large scale. Growth of this business before COVID-19 was expected to be a gradual increase, owing to various factors such as availability of novel products and rise in awareness related to early diagnosis of medical ailments for better management. However, the outbreak leads to a sudden change in scenario, sending mixed waves to the business flow. Some parts of the diagnostics industry were hit in a negative manner whereas others grew, owing to unexpected rise in demand for products. The fact that the diagnostics industry falls under the category of essential business and diagnostics plays a major role in detection of COVID-19 has also influenced the growth in many ways.
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