Begin typing your search...

Mapmygenome prepares for competition as Reliance enters genetic testing market

The Hyderabad-based preventive genomics company expands team, launches new product

Mapmygenome prepares for competition as Reliance enters genetic testing market

Mapmygenome prepares for competition as Reliance enters genetic testing market

The 11-year-old preventive genomics company based out of Hyderabad, Mapmygenome, is on a strategic expansion mode this year with strengthening of its team and three launches. Mapmygenome recently expanded its sales team and is likely to add another 30-40 employees in the next one year. These expansions draw significance as Mukesh Ambani-backed Reliance Industries will be rolling out affordable genome testing kits soon.

In March 2023, Reliance Industries announced its foray into the global genetic mapping market, which is expected to reach $21.3 billion by 2027. The company acquired Bangalore-based Strand Life Sciences by picking 80 per cent stake in the firm. The yet to be launched genetic testing kits are touted to be 86 per cent affordable than others at Rs 12,000.

Mapmygenome, which is majorly present across Bangalore, Hyderabad, Pune, Delhi, and Mumbai, has over eight products priced around Rs 7,000. The molecular diagnostic company launched MedicaMap in December 2022, BeautyMap in April 2023, Mapmybiome in May, and the most recent being Clinical Genomic Tests.

“There will be competition, and that is a good sign, as it indicates that there is a market need for genomics. As the genome market matures, companies like Reliance are entering. There was a hype cycle in between. Now, we’re witnessing the actual growth. We are in the early hype cycle with our gut microbiome test, Mapmybiome,” Anu Acharya, Founder of Mapmygenome, told Bizz Buzz.

Their recent launch, the Clinical Genomic test, is done to understand how a patient has to be treated or what caused the disease. Mapmygenome will be launching a separate website for these tests that are done by people on a doctor’s recommendation.

“We have been doing a lot of clinical tests now. Doctors are coming to us to understand more about diseases such as cancer, Ob-Gyn, and others. We have updated our website, and a lot is happening in this direction. Earlier, we did not have a big sales team for Clinical Genome, but now we have built it up,” Acharya further said. She also informed of adding another 30-40 employees in the next one year to work on the undisclosed expansion plans.

Speaking on the threat posed by the entry of Reliance, Acharya stated that, “We look at it in three ways. First, we have been in the market for a long time and have grown organically. Second, we are open to mergers and acquisitions by corporates, as in the case of Reliance. Third, we have seen that large corporates often get excited about new markets in the beginning, but then drop out later. When we started, the market was very small. But as more and more people are opting for genetic testing, many players are emerging.”

Divya Rao
Next Story
Share it