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We are seeing a spur of innovations in the point of care technology space globally

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Alka Goel, Founding Partner of Alkemi talks about point of care diagnostics

Star Trek space odysseys helped shape our imagination of a far-off future where space explorers travelled through galaxies making use of futuristic technologies. One such technology is  a Tricorder, a handheld device that could diagnose a human being for its key vitals and provide results within minutes. While the Tricorder in many ways is an ultimate Sci-fi fantasy of a general practitioner, we are seeing a spur of innovations in the point of care technology (POCT) space globally.

The concept of point of care diagnostics is not new. POCT devices have been in use for some time now – be it glucometers, ECG, fitness trackers, etc. New age affordable and portable diagnostic devices are complementing the conventional lab diagnostic procedures as patients are becoming more involved in managing their own health and physicians are able to continuously monitor their patients. COVID-19 has further accelerated the demand for POCT devices as the pandemic required both infected and non-infected people to monitor their health metrics on a regular basis. For example, the blue and white oximeter has found its place in every household.

POCT growth can outpace that of the traditional diagnostic sector. Their accuracy is increasing and they offer the benefit of cost, convenience and immediacy of results. In addition, most POCT devices are linked to the cloud allowing for longitudinal data availability, which can be helpful for physicians and can also be used for R&D activities. Instant diagnosis without the need for a trained physician is another key benefit. The results can be shared immediately with the trained physician who in turn can quickly determine the best course of action. The portability of POCT devices addresses the problem of accessibility, a top most priority of countries as large as India. According to reports, the global POCT market is projected to grow at a CAGR of 11.4 per cent to reach $50.6 billion by 2025 from $29.5 billion in 2020. Today, glucose testing accounts for the largest share but we expect newer POCT devices to also become more prominent.

There are limitations to POCT devices too. Most of it is related to physician acceptability of the results. Most physicians believe POCT devices are at best screening devices and will want the patient to undertake more definitive tests. As technology advances, we are confident this acceptability will increase. Many innovative devices cater to a specific test which limits the use for the physicians due to a narrow focus.

Although a great deal of improvements can be observed with respect to medical facilities in the Indian healthcare system, the use of POCT devices is still in its nascent phase. Blood glucose level detection and cardiological analysis are the two major sectors that have contributed to the majority of the POC diagnostic market in India. Based on estimation by Ken Research, India POCT market stood at $304 million in 2018 and is expected to reach over $533 million by FY 2023 growing at a CAGR of 11.9 per cent. This translates into less than 2 per cent share of the global POCT market in FY20.

The Indian healthcare system is complex and it represents a unique case of constraints with respect to budget, population diversity and multifaceted healthcare necessities. The situation demands innovative solutions that are efficient, affordable and accessible. POCT devices have the potential to be the missing piece in this puzzle. Alkemi has invested in HealthCube, a startup that designs and manufactures POCT devices to enhance the quality of primary care in diverse settings. HealthCube’s primary product is a medical-grade, clinically accurate, portable diagnosis system, similar to a dictionary in size. It can provide results in 1 to 15 minutes for over 30 WHO approved tests across various parameters like vitals, biochemistry, infectious diseases, and cardiac markers, etc., and even perform ECGs. The device can operate without power making it ideal for even remote locations and the data collected through it can be analysed to track trends in patient acquisition and disease occurrences.

In India, POCT devices are playing a pivotal role in the upliftment of the healthcare system. While we are seeing proliferation of POCT devices for vitals and non-communicable diseases, innovation is expected in devices for sleep, energy and infectious diseases. Companies who can deliver tests faster, more accurately and cover new indications will continue to be in demand.

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