Genomic testing players like RIL's Strand eye tier-2, 3 markets as demand grows
Subscribe to enjoy similar stories. The genomic testing market in India, still at a nascent stage, is poised for big growth in the coming years as demand increases on the back of changing disease patterns, more awareness, and falling prices. Companies like Strand Life Sciences, a subsidiary of Reliance Industries Ltd, and MedGenome are increasing their footprint through organic and inorganic routes, with a focus on the smaller cities and towns.
“Genomics is an added tool to your medical diagnosis," Ramesh Hariharan, director and CEO of Strand Life Sciences, told Mint. Genomic testing involves analysing or sequencing a person’s DNA, to identify genetic changes that can help diagnose or screen for various cancers, rare diseases, genetic conditions and neurological disorders, among other things. “If you take any hundred women, two to three would be born with a mutation in their genes that will place them at substantially high risk for breast and ovarian cancer.
And no amount of x-rays, blood tests will tell you that you are at high risk. You have to sequence the DNA to get that understanding," Hariharan said. Genomic testing has been increasing in healthcare diagnosis, predominantly among tertiary specialists in metros and tier 1 cities in India, especially in oncology, pediatrics, rare diseases, and prenatal and reproductive healthcare, according to industry executives.
India's cancer burden is growing at an alarming rate. According to an EY-FICCI report from 2022, cancer incidence rates have increased at a CAGR of 6.8% from 2015 to 2020. In 2022, about 20 lakh cases were documented, although the real incidence is estimated to be 1.5 to three times higher.
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