MGRC eyes Middle East, SEA markets for expansion
Malaysian Genomics Resource Centre Bhd (MGRC) eyes the Middle East NOrth Africa (MENA) and South East Asian markets for further growth in the industry of genetic screening services
MGRC executive director Azri Azerai told The Borneo Post that the latest memoranda of understandings (MOUs) signed with parties in the United Arab Emirates (UAE) provides the group with a framework to explore and formulate the commercial relationships between the parties concerned.
The parties are UAE-based specialist in spinal injury and spine pathology American Spine Center; healthcare service provider BALSAM Health Services; utrition, obesity and weight loss specialist Wellness by Design FZ LLC; and IAC International LLC Sharjah.
“The MOUs are focussed on genetic screening services, products for which MGRC started developing back in 2012,” he said during the interview. “So, it is likely that we will start with MGRC’s existing genetic screening products (over 15 test profiles covering hundreds of diseases and health traits), with the potential to also develop new genetic screening profiles to cater to diseases that may be unique to the MENA region.
According to the UAE Genetic Testing Market Report 2022-2030, the market in the Middle East is projected to reach US$121.2 million by 2030 at a compounded annual growth rate (CAGR) of 21.92 per cent between 2022 and 2030.
Azri said the MGRC Group sees this as a stepping stone to the wider MENA region, which is home to more than 580 million people across 20 countries.
“MENA is one of the key regions of focus for us, as we have also signed partnerships with Riyadh, Saudi Arabia-based United Doctors Hospital (UDH) and Jeddah, Saudi Arabia-based Ajlan & Bros Medical Company for the distribution of our genome and genetics-related services, as well as our biopharmaceuticals and other cell therapies,” he added.
“Our goal is to work with partners from the region who share our vision to improve access to the latest in genomics for human health as well as agricultural biotechnology, and cell therapies for clinicians and patients across the region.”
Besides MENA, MGRC is also focussed on Southeast Asia as another key region for the expansion of the group’s genome and genetics-related services as well as its biopharmaceuticals and other cell therapy products.
“With a population of 680 million people, SE Asia is even larger than the MENA region. We recently formed partnerships with three companies in Thailand for the distribution of our products and services as well as collaborations on research work,” Azri continued.
“We are looking to finalise similar arrangements with distributors in other Asean countries.”
The executive director went on to explain that MGRC has traditionally been focused on business to business (b2b) channels to market and distribute its products. This is done through partnerships with healthcare facilities as the purchasing intermediary for their patients or consumers who are the end-users of our products / services.
Recently, MGRC has started developing genetic screening products for the business to consumer (b2c) market, and it is working with key partners on adding value to our consumeroriented genetic screening tests to differentiate them.
“Examples include packaging our consumer genetic profiles with personalised health supplements as well as personalised fitness programmes.
“While b2c channels work for our genetic screening products, our biopharmaceutical and other cell therapy products require engagement with hospitals and specialists such as oncologists and haematologists.
“To this end, outside of Malaysia we work with strategic partners on-the-ground which have existing networks with hospitals and specialists that need our immunotherapy products.
“It certainly will support growth because people are more aware of their health and want to know more as well as take action on how they can improve or enhance their health.
“For the group, diversifying into b2c channels is not just about market outreach but also the expansion of a range of products and services that target different segments of the market.”