Sunday, 14 August 2022

Mylab to foray into routine lab testing equipment and reagent biz

31 March 2022 | News

Addressing more than 90 per cent needs of small to medium-size laboratories through entry into these new segments.

Image credit: shutterstock

Image credit: shutterstock

Pune-based Mylab Discovery Solutions plans to launch an entire range of routine diagnostic kits and devices in conventional and POCT (point of care testing) format. It will include the devices and kits for three major sub-segments of the market - immunology, biochemistry and haematology. This will nearly complete the company’s portfolio for diagnostics laboratories which until now included molecular (RT-PCR) test kits and devices and rapid/self-tests. 

 

With this expansion in product lines, now the labs can use Mylab’s devices and reagent kits to do all routine tests such as liver panels, cardiac profile, urine panels, hormone panels, fever panels, kidney function tests, cancer markers and much more. 

 

For the research and development of these products, the company has earmarked Rs 100 crores and several devices and reagent kits are already in development at its Pune-based Innovation Centre for Medical Devices.

 

The company plans to start rolling out these products in the third quarter and roll out pan India through existing and new distributorships. The company is also building a team to reach rural and urban customers. The team will be trained at the state-of-the-art training centre of the company.

 

Mylab aims to place its products in 1000 labs within the first six months from the time of launch and acquire a market share of 10 pr cent by the end of 2024 with its reach to more than 20000 labs.

 

The company expects a total of 10 different devices and 120 test parameters to be rolled out in the next financial year under this business segment. The company will use its manufacturing facility at Lonavla and the upcoming facility at AMTZ, Vizag for the production of these devices and kits.

 

 

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