Mumbai-based Voxtur Bio Ltd has entered the fast-growing domestic diagnostic market by launching a wide range of in-vitro diagnostic kits and reagents.
Voxture Bio, set up by young entrepreneur Viral Gandhi, was commercially commissioned in April this year and has already launched nearly 100 products in different categories of the in-vitro kit manufacturing sector dominated by just a handful of players in India.
Voxtur's product portfolio covers the range of rapid testing kits for infectious diseases like HIV, HCV, HBsAg and Syphilis, along with rapid tests for seasonal diseases like Malaria, Dengue, Typhoid and Leptospira. In addition to the initial product portfolio, it has now focused on the OTC segment with hCG pregnancy testing kits, both under normal device format and mid-stream format. It also launched the entire range of Blood Grouping agglutination Sera, along with all the flocculation tests for Rheumatology.
Khushroo A. Pastakia, CEO & Executive Director, Voxtur Bio Ltd, said that currently the firm is working on the ELISA range for all the prominent infectious diseases and has also set up a huge infrastructure for manufacturing of blood collection tubes.
"In the initial phase, the company ventured into Hematology and Immunology, two of the four major segments of clinical diagnostics. The product portfolio under our stable includes Rapid Test kits, ELISA Test kits, Blood Grouping sera and other Flocculation tests to begin with. Later on, the company will be venturing into the other two remaining segments: biochemistry and microbiology, apart from highly automated clinical laboratory analysers in the clinical chemistry and haematology arena," Khushroo said.
The company has put in place an active marketing plan for the domestic market and will be deploying its sales team of 100 members, positioned in simple two-tier structure. "We will be setting up our distribution channel by partnering with various stockists across India. There are around 300 small and big cities in India, amongst which we have shortlisted 100 big ones that need to be targeted during the first year, with an increase in count year after year. Gradually we may opt for a C&F/super-stockiest sort of business model for each state," he added.
Sensing the potential in the market and the gap in supply, Viral Gandhi, the Chairman and the Managing Director of the company, started the work on the project a couple of years back. "One challenge was to source the right pool of talent which is technically sound, skilled and qualified, followed by shortlisting of the "top of line" products that can move in the IVD market, with ease and deliver the desired results," said Viral.