The coronavirus pandemic has changed how the world's healthcare systems and biotechnology companies will operate irrevocably as Covid-19 "isn’t going to go away", according to virologist and manager of the AUS$335m Platinum International Healthcare fund Dr Bianca Ogden.
"I wouldn't be surprised if [Pfizer] makes these services into franchises. And why not? We have an influenza vaccine that we get every year. It is not out the realms of possibility that another vaccine could be administered regularly," the manager reasoned.
"I don't think a vaccine will come in and everything will return to normal. I think the key will be how it is distributed; there will be varying generations of vaccines and medications over the years.
"I think Covid has potentially opened up a new area of growth for some of these companies - I don't think a lot of people are looking at it in this way."
Elsewhere, Ogden believes many developed markets - notably the US - will have to invest more money in diagnostics in order to cope with coronavirus over the long term.
"If I look at Germany, for example, it started quite well and they are much less panicky about what is to come relative to some countries.
"If I look at the US, it has a different system, a different hospital set-up and a different investment strategy in terms of how they run their hospitals," she explained.
"They will need to invest more in diagnostics. People are being turned away by pathologists because they simply cannot test any more people, but testing will be key. It is because their system is so stretched.
"Unfortunately it is a similar story in the UK with the NHS; the EU has talked to Roche and they responded by saying there is simply a lack of investment in diagnostics in the UK."
While Ogden believes the infectious diseases sector will benefit overall, one area that often gets overlooked is testing and vaccines for livestock - particularly as regulation will likely become more stringent.
"With a lot of these viruses, many issues come from animals because of the close proximity in which we live alongside them, particularly when it comes to food markets," she said.
"I think the testing of animals needs to improve - and that is something not many people are talking about. Perhaps we need better vaccines for animals and more regular testing."
Another theme that will benefit over the long term, according to the manager, will be hospital equipment and resources.
"The contrast between how the likes of the US and Asia have dealt with this virus has been really fascinating," she continued.
"America has Silicon Valley and all of these exciting tech names, but I think they will have to start looking a little deeper at the boring industrial parts of how their hospitals operate.
"It has also bought to the fore the tech intersection with the apps and monitoring; virtual hospitals is something we are looking into at the moment."
Finally, the manager said that while some companies providing vaccines have seen their share prices rise exponentially since the pandemic, the key is to look beyond near-term valuations and consider the long-term prospects and underlying fundamentals of each firm.
"Often, we use valuation as a guide and remain patient. But you cannot be too steadfast on this. A good example is [US vaccine and drug discovery company] Moderna; as it was about to IPO, I became nervous about its valuation. Often there are rumours flying around in the biotech space and it is hard to make a decision," Ogden explained.
"This is why it is good to have somebody on your team outside of the biotech space to talk to, who can look at it purely on the investment side.
"My colleague said to me: "Think about it. What's the worst that could happen?" I told him its price could half. And when he asked about the upside, I said it could at least double, and potentially grow much more than that over time. So he told me to give it a go. You need pragmatism as well as expertise in healthcare."