Commentary

Rapid technological advancement in recent years has placed affordable genetic testing in the hands of consumers and the global direct-to-consumer genetic testing (DTC-GT) market is forecast to be worth over US$1bn by 2020.

Diagnostics play a vital role in spotting health problems and informing medical interventions. However, despite rising demand in most of the world’s largest healthcare economies, many diagnostics companies struggle against commoditization as governments face increasing pressure to move from volume to value-based contracting and to encourage more preventive, healthy behaviors of the population. These very same pressures also present opportunities as diagnostics companies can be the central link between healthcare products and services.

The United Nations (UN) has set a goal to achieve “Health for All” by 2030 and while 193 countries have signed up to it, more than one billion people still lack access to basic healthcare. If every country without universal health coverage (UHC) is to increase their health spending per capita to the average OECD levels by 2030, it would mean total global health spending will have to increase by 400% or an additional US$27 trillion over today’s budgets. Such investment is clearly beyond the means of low- and middle-income countries but, according to Dr. Mark Britnell, KPMG Global Head of Infrastructure, Government and Healthcare, “we can’t go back on the aspirations of UHC. It’s too difficult for governments to say they don’t believe in UHC”.