| | FEBRUARY 202319Thermo Fisher has been at the forefront in the fight against COVID-19; from developing one of the first COVID-19 RT-PCR detection solutions to partnering in vaccine makingrapid development in the last decade. RT-PCR tests, once considered a niche technology, have become a household name. The Indian molecular diagnostics market is projected to grow at a CAGR of around 10 percent till FY 2026, with a rise in the infectious diseases. Furthermore, the government's initiative to increase healthcare funding to improve the country's molecular diagnostics capabilities will also have a positive impact on the market in the coming years.Next-Generation Sequencing: NGS is another transformative area that is being adopted in clinical oncology to help advance personalized treatment for various cancers and other diseases. NGS allows clinicians to test many genes of cancer simultaneously and identifying rare cancer mutations, among other applications. With India's cancer burden set to rise to 29.8 million in 2025 from 26.7 million in 2021, NGS will play a crucial role in providing information for prioritizing interventions that can be tailored to a patient's particular cancer. Precision Medicine: While there has been a leap in the advancements in medicine, drug efficacy remains an area that needs addressal. India is in the early stages of adoption of precision medicine or personalized medicine which is bound to move the needle from a one size fits all approach to a more targeted approach to patient care. A wider adoption of precision medicine will usher in a new era for healthcare, where decisions are made based on an individual's clinical, molecular and lifestyle information. Precision oncology is forecasted to accelerate targeted therapy treatment and improve patient outcomes. Preventive Diagnostics: Traditionally focusing on curative care, Indians have now realized the critical role played by preventive healthcare in maintaining the quality of life. Seventy percent of treatment decisions are based on lab results, a fact that necessitates the need for providing affordable, accessible diagnostic facilities. Another key factor driving this sector is the rise in the lifestyle diseases and the willingness to spend more on healthcare, which has led to greater awareness to sustain and prolong wellness. Digitization & Data Analytics in Healthcare: Data science and digital tools such as Artificial Intelligence and Machine Learning, in an enabling ecosystem, are creating cutting-edge transformation in the industry. In fact, big data analytics is expected
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