Date: 18 May, 2021
Good health is the only wealth in today’s time, and a significant way to maintain it is through Genetic analysis. From timely interventions to gene-targeted treatments, genetic analysis can benefit in many ways. Keeping this context in mind, we would like to talk about one such structural growth story in the form of Lilac Insights Pvt. Ltd. It is a pioneer in the genetics diagnosis in the field of reproductive (prenatal) and cancer treatment, having successfully shaped the genetic screening and diagnostics industry in the country over the last decade. Here we’ve given a brief overview of the company.
ABOUT THE COMPANY?
Lilac Insights was founded by Rakesh Sharma, Subhamoy Dastidar, and Gulshan Bakhtiari in 2011. All of them are not only domain experts in the field of life science, pharmaceuticals and healthcare but also know how to built businesses and scale them.
They are ably supported by a team of experts that has, among others, Dr. Prathima Radhakrishnan & Dr. Anita Kaul. Both of them are certified trainers for Fetal Medicine Foundation (FMF) in India and specialists in Fetal Medicine. They are thought leaders in this field who often travel across the globe for lectures. Dr. Pratibha Amare, another distinguished member, is a former HOD of Tata Memorial Centre’s Oncology Department.
Till date, the Company has tested more than 5.5 Lac patient samples.
State of the Art Facility at Navi Mumbai
Lilac is one of the few well-regarded companies in India to adhere to guidelines and protocols set by internationally renowned organizations such as the National Health Service (UK) and Fetal Medicine Foundation (FMF) (UK).
SERVICE OFFERINGS
The Company offers following specialized services:
· Reproductive Genetics Program
It conducts various specialized genetic screenings to assess the risk of a fetus, newborn baby or an individual (mostly couples) suffering from genetic abnormalities, disorders & diseases
· Cancer Genetics Program
This program is aimed to help the clinicians to take appropriate treatment decision for cancer patients by knowing more about the disease through genetic diagnosis
· Sujanan Program
Lilac started a first of its kind clinical and metabolic genetics facility -The Sujanan Clinic at Pune. Services include genetic consultation & counselling whereby the country’s finest Clinical Geneticists and Genetic Counselors help individuals, with information and support regarding the contribution of their genetic makeup to specific health conditions
INDUSTRY LANDSCAPE
· A genetic test examines the genetic makeup of a patient, and detects if there are any gene mutations and alterations in the healthy structure of the DNA, leading to the development of genetic disorders.
· These tests, which are primarily used in oncology, reproductive health, predictive and pre-symptomatic testing and ancestry, are used to confirm or rule out a suspected genetic condition as well as the likelihood of the development of a genetic disorder or the transmissibility to the next generation.
· The rising awareness about the benefits of genetic testing, the prevalence of genetic disorders, and the shift from a service-driven to a product-driven industry are primary drivers for the market’s growth.
· According to Market Research Future’s (MRFR) report, the global genetic testing market will be worth over $22.8 billion by 2024, expanding at a CAGR of 11.50 percent. Despite the fact that the Indian genetic testing market is currently worth INR 400 crore, it is growing at a faster CAGR of 30% and has enormous growth potential, given the rising awareness.
· Every year 26 million children are born in India; of which, at least a million are born with genetic diseases, majority of which go undiagnosed. On the contrary, China conducts over 10–12 million tests, while the United States conducts over 100–150 million tests per year.
· Diagnostic labs in India, which are designed for mass production of sample checking and reporting, often struggle in the interpretation of reports. Hence, a significant void is being filled by Lilac with its specialized service offerings.
· MedGenome, Strand Life Sciences, apart from diagnostics chains like Metropolis, SRL, Thyrocare, and Dr. Lal PathLabs, are the key players in this space.
· Most of the established names are generalists, unlike Lilac, which is a specialist as it has added more expertise, quality and accuracy in reporting and data interpretation, which ultimately benefits in the creation of a better course of treatment.
CONCLUSION
Lilac is a structural growth story given the strong business fundamentals, superior pedigree of the founding team, and specialized business model.
The above report has been prepared by Rockstud Capital LLP (“Investment Manager”) for informational purposes only and is subject to change without notice. The delivery of report does not imply that the information contained herein is correct as of any time subsequent to the date specified in the contents of the Information. The financials in the above report are intentionally not mentioned due to confidentiality reason.
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