JOINT VENTURE WITH DIAGON - HUNGARY FIRST IN INDIA FOR COAGULATION
Post Pandemic Business Consolidation and Diversification We at Vanguard Diagnostics, feel extremely gratified at having been able to serve the country in the time of dire need during the pandemic, through innovation and indigenization.
We now find ourselves at the threshold of the next orbit. The next five years are going to be crucial for the further evolution of our company. We plan to invest in R&D and instrumentation to ensure that new products constitute 30% of our total revenue every year.
Additionally, our joint venture with Diagon-hungary, Diagon-vanguard Diagnostics (P) Limited is poised to take centerstage. This venture offers the world’s best range of Coagulation reagents and instruments to cater to the needs of all types of diagnostics laboratories. Our product portfolio for the Coagulation segment, ranges from high quality products for POCT and home-use to high-end analyzers with a throughput of 300 Tests/ hour.
Coagulation is a niche segment with Diagon’s range finding its place among the top four in the world. We have a midterm objective to manufacture these products for the first time in India through technology transfers, facilitating ‘Make-in-india’ for the world.
What have been Vanguard Diagnostics’ initiatives towards adoption of new technologies and new product development?
During the pandemic, we entered the molecular diagnostics segment for the first time. We are now building our portfolio in this segment with tests like RT LAMP and RT PCR.
Very recently, on the 25th of May 2022, Vanguard Diagnostics signed an MOU with the Graphic Era -Deemed to be University-dehradun for the transfer of a patented, molecular diagnostics technology for the detection of Typhoid. There is a well-established paucity of reliable and fast diagnostics tests for the detection of Salmonella typhi at the moment, not only in India but across the globe.
We plan to make this novel product with high sensitivity and specificity available, by the end of 2022.
We have expanded our serology product line too with the introduction of the Neutralizing Antibody Test against SARSCOV-2, in the ELISA format. Vanguard Diagnostics had earlier collaborated with DRDO for the joint development of the DIPAS-VDX Covid-19 IGG antibody test. The product was launched in the market last year. It is an example of a successful Research Institution-industry collaboration.
How are you seeing the Diagnostics and the IVD market ?
I believe that in-vitro Diagnostics in India is at a point of inflection. The Indian IVD industry has the potential to become a significant player in the healthcare sector both locally and globally, quite like the IT industry of India post Y2K and the Pharma industry after the acceptance of generic formulations, in 1985.
Covid -19 has ushered in a tremendous increase in awareness about health and wellness along with underlining the utility of home-use diagnostics tests. Additional tests will be required to monitor the long term impacts and complications arising out of the Covid-19 infection.
These factors are expected to drive the growth of the market at a CAGR of ~20% during the next five years. As a consequence, the Indian IVD market size is likely to exceed the US$ 5.0 Bn mark by the year 2027.
Share your success story to inspire others.
In the year 2015, there were about 100 players in the Indian Diagnostics industry, a majority of which were local importers and traders. Their margins had been significantly impacted by the depreciation of the Rupee. This along with the complexity of obtaining import licenses and high import duties, highlighted an unmet need for an experienced diagnostics group which could develop and manufacture reagents locally, in customized formats while ensuring the
was highest level of quality and stable pricing. This need fulfilled by Vanguard Diagnostics.
We positioned ourselves as the first-choice partner, for all nonmanufacturing diagnostics companies thereby contributing towards reducing the need for import and giving an impetus to self-reliance in the diagnostics sector.
We could offer an unmatched lead-time to develop a customized product to our clients based on our in-depth knowledge of R&D, manufacturing and quality systems, thus reducing their time to market.
During the pandemic we decided to channelize our energy towards findings solutions for Covid-19 through innovation and collaboration with academia. Vanguard successfully collaborated with DIPAS-DRDO for the development and manufacturing of a Covid-19 ELISA antibody test, for serosurveillance studies. We were delighted to be appreciated by the Hon’ble Raksha Mantri for this effort.
Vanguard Diagnostics received the coveted FICCI Healthcare Award, for ‘Excellence in Scaling-up of Manufacturing for Covid Demand’, in September 2020.