Read the Conversation
Meeting Highlights:
- Driving Digital Transformation in Diagnostics: Chile, Mexico, and Brazil are at the forefront of leveraging data and adopting EMRs, despite ongoing software challenges.
- Navigating a Cost-Sensitive Market: While private sector insurance is expanding, balancing costs and improving access remain key priorities. On the R&D front, centers of excellence are growing and fostering public-private partnerships, but CAPEX limitations continue to slow high-tech capacity installation.
- Advancing Prevention & Precision Medicine: Thermo Fisher is strengthening efforts in next-generation studies and genetic profiling, utilizing the region’s diverse population for a robust data pool.
- Enhancing Data Utilization & Digital Integration: A strong focus on training healthcare professionals and expanding the adoption of digital tools is essential for maximizing the potential of data-driven healthcare.
- "Creating the solutions of tomorrow": Thermo Fisher is leading in proteomics to democratize genetics, drive scientific advancements, and improve patient outcomes across the region.
EF: As one of our most prominent ambassadors for science and innovation, what message would you share about the importance of healthcare in Latin America when addressing a global audience?
FC: Thermo Fisher has a strong connection to science, constantly driving us to enhance diagnostics through advanced data analysis, data mining, and other innovative approaches.
With today’s tools, from artificial intelligence to faster, more sophisticated equipment capable of delivering high-quality diagnostic data, we recognize our responsibility to strengthen healthcare across the region.
Latin America has undergone significant transformation, particularly in Brazil and Mexico, which often lead the region’s progress. One notable shift has been in the improvement of the public healthcare sector, while in Brazil, for example, the private sector has been consolidating for years. Larger players are absorbing smaller ones, creating a different competitive landscape where companies expand into comprehensive healthcare solutions.
From a patient perspective, there is a clear trend toward a "one-stop" approach to healthcare, integrating services seamlessly. This comes with challenges, particularly in ensuring accessibility and managing patient data, such as electronic medical records (EMRs). Progress varies across countries, with some advancing more quickly in integrating systems. The discussion around platform adoption and unified healthcare management remains important and ongoing across the region. Chile is an example where healthcare operations are notably efficient, but the market still has plenty of room to grow.
In Brazil, the private sector is increasingly involved in healthcare due to significant investments in technology and innovation. This shift brings attention to access concerns, as private insurance coverage remains low across Latin America.
In Mexico, as the private sector has grown, many people have turned to private healthcare. While this doesn’t always mean more people have insurance or that healthcare is affordable for everyone, providing access to healthcare remains an important goal for a population of over 130 million.
Focusing on preventive healthcare is essential. Culturally, many people seek medical attention only when their condition has worsened significantly, often due to affordability concerns. Leveraging artificial intelligence to improve healthcare outcomes, particularly in preventive care, is crucial. Investments in genetics aim to enable every newborn to undergo genetic testing at birth, allowing for early identification of potential health risks like cancer. This would facilitate proactive steps, including dietary and lifestyle adjustments, to prevent diseases before they develop.
Next-generation sequencing generates millions of data points, necessitating advanced bioinformatics capabilities. A decade ago, radiologists faced a similar challenge—not due to a lack of technology but a shortage of professionals to interpret imaging. These insights are driving the creation of advanced diagnostic centers of excellence. Advances in artificial intelligence allow rapid data analysis, delivering near-instantaneous insights on diseases and treatments.
In the pharmaceutical sector, companies compete to develop faster, more effective drugs. However, many countries face challenges in making the necessary investments, particularly in specialized medicine. Some are exploring public-private partnerships, with varied results.
These approaches are expected to continue, and there is increasing support for governments to play a larger role in managing healthcare. The public sector is actively working to improve access to essential medicines, and efforts are being made to address long waiting times to ensure more efficient healthcare delivery. Finding practical solutions to reduce these delays and provide timely patient care is important, with personalized medicine being a key part of this effort.
EF: How would you assess the level of adoption and data infrastructure available across Latin America?
FC: There is strong intent across the region. Everyone understands the importance of data, but clear, concrete plans are lacking. One key issue is physician training, which needs to evolve. We are seeing a generational gap in the healthcare workforce. We participate in several associations focusing on making data leveraging better; however, solutions are often rushed without fully understanding the root issue of data education. The shortage of professionals who can translate data into clinical outcomes is still significant.
Meanwhile, the world is presenting a shift in drug development, particularly due to COVID-19. Drugs that used to take ten years to develop were created in just a year and a half, thanks to data analysis. However, long-term impacts remain to be seen.
Additionally, we are noticing the resurgence of old diseases in the region, reminding us of the potential for future pandemics. Our work with COVID-19 involved heavy testing, but strong prevention plans are still lacking and represent a major gap.
Another important factor is Latin America’s rapidly aging population, requiring a shift in healthcare management. Prevention will become even more crucial, and data should drive this. As a region, we remain far behind countries like Sweden and Switzerland, where healthcare advancements are impressive. The challenge in Latin America is scale. With 660 million people, managing healthcare is no small feat. There is still much work to be done.
EF: Considering the needs of Latin America and Thermo Fisher’s capabilities, where do you see the greatest growth potential? What opportunities can we capitalize on in this region?
FC: I see significant potential in proteomics and the broader field of omics, where awareness is steadily growing. Proteomics, which studies disease at the protein level, is a game-changing approach. Our recent acquisition of Olink, a company specializing in protein analysis, exemplifies this potential. This technology dramatically accelerates our understanding of disease origins—reducing the time required by up to tenfold— a major breakthrough.
However, like the early days of DNA sequencing, proteomics is still in a crucial research and development phase. Initially, sequencing seemed like a tool for scientists alone, but today, it is widely used. Similarly, proteomics will soon redefine the landscape of diagnostics and treatment.
Now is the time to invest. Leading this field will yield a profound impact on the future of healthcare. Our vision is to democratize genetics and life sciences, ensuring these innovations are affordable at all levels. Proteomics is just one of many groundbreaking advancements aimed at improving clinical outcomes. The key challenge is transitioning from pure scientific discovery to practical, outcome-driven applications.
EF: How is Thermo Fisher preparing for the future in Latin America, particularly in Mexico, over the next 5 to 10 years?
FC: We are at the heart of a significant transformation driven by advancements in AI. Our strategy focuses on two key areas. First, we aim to enhance customer experience by improving accessibility, accelerating response times, and ensuring faster availability of data and reports. Second, we are optimizing internal processes to allocate more resources toward research and development. This is relevant as we strive to spend more time, money, and energy on creating future solutions.
Our CEO, Marc Casper, refers to this era as the “Golden Age of Biology,” and proteomics is a prime example. By leveraging AI, we can accelerate outcomes through advanced data analysis. Additionally, we are investing in training programs to equip our workforce with AI expertise, ensuring we stay ahead in this rapidly evolving landscape.
Beyond innovation, we are also addressing the ethical implications of AI, particularly in content creation, which raises questions about authenticity and reality. Ethical considerations become even more complex when discussing developments such as cloning. While cloning is common for plants and animals, human cloning brings significant bioethical concerns. This is a critical area where development is headed, and our goal remains focused on advancing humanity in a responsible way.
We are also deeply committed to sustainability, clean energy, and new power generation methods. Simultaneously, we are driving advancements in data management and working toward a healthcare system rooted in preventive and precision medicine. The future is incredibly exciting. The rapid pace of development in pharmaceuticals and biotech is remarkable. After a period of slow investment, biotech is making a strong comeback, and we are eager to be part of it and create the solutions of tomorrow.
