In India, the medical diagnostic industry is growing quickly. A report by Praxis Global Alliance predicts that it will grow by 14 percent and reach $20 billion by 2026 from $10 billion in 2021.
TRUSTlab Diagnostics is a new laboratory founded by Mr. Venkata Suman Cherukuri in Hyderabad during the pandemic. It started its journey in January 2021 with a regional lab in Vijayawada. Within three months, the lab was ready to launch its commercial operations with biochemistry and molecular biology assays. It obtained ICMR approval for RT-PCR testing for CoViD-19 and was accredited as a molecular biology laboratory by the National Accreditation Board for Testing and Calibration Laboratories (NABL).
By June 2021, TRUSTlab already had 100 network partners. It launched its departments of Microbiology, Serology, and Haematology. Soon after it added Flow cytometry, Prenatal and Newborn Screening, Histopathology, and Cytogenetics to its portfolio. Regional labs were launched in Bengaluru and Aurangabad; a phlebo network was launched in five cities; and the number of network partners increased by 300. TRUSTlab has procured cutting-edge equipment to ensure accurate and timely results, empowered by a fast-growing network of labs and collection centers.
TRUSTlab Diagnostics plans to open at least 12 labs this year, 8 in the North and the rest in the south/west. The team will grow to 250 members during FY 23-24. New departments and labs will be added that require skilled operators.
The goal of TRUSTlab Diagnostics is to become a Center of Excellence by combining avant-garde research with the world’s finest practices to become an incredible center for highly specialized diagnostic testing. The complex analytics will be driven by artificial intelligence and machine learning that will deliver reports with unprecedented accuracy.
In India, the diagnostic industry’s growth is much-awaited news. Advanced at-home diagnostic solutions promise to emerge soon, which will cut the travel time of the patient and help in ensuring better disease diagnosis and management. A timely and accurate diagnosis can play a pivotal role in preventive healthcare.