As pandemic wave recedes, here’s what is holding back growth of diagnostic companies

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Synopsis
During FY21 and FY22, Covid-19 and related tests were the main growth drivers. While those have come down, the pick-up in volumes of other tests has been slow. Besides, revenue growth of legacy companies hasn’t resumed to pre-pandemic levels, and new players have intensified competition. Pricing is also under pressure. So, what are the prospects for 2023?

As the end of 2022 was drawing closer, the scare of Covid-19 resurfaced. China had once again become the epicentre of the disease with a sharp spurt in cases over the last couple of months. Several other countries were also seeing a rise in infections. This alarmed nations globally. Though the cases in India were not increasing much, discussions and concern around Covid-19 started again. On December 20, India’s health minister conducted review