š§¬ Ambani's Gene-ius Solution to Transform Healthcare
Mukesh Ambani's got healthcare DNA on his mind. Here's why.
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Adani seems to have stolen Ambaniās thunder by making all the headlines, no?
Ambani felt it too. So, off he went to create another headline: this time he's making a $145 Genome Testing Kit.Ā
What's special about this kit? It's going to be one of the cheapest ever!
But what even is genome testing? And why is Ambani suddenly so interested in it?
Buckle up, and let's dive into the fascinating world of genome testing!
š§ The Curious Case of Genome Testing
Your genome is like a blueprint for your entire body. It's a set of DNA instructions that tells your cells how to grow and function. Genome testing is all about reading those instructions and learning more about what makes you, well, you.
It's like a DNA detective story. Scientists can look at your genome and figure out things like where your ancestors came from, what diseases you might be predisposed to, and even what kind of foods you might be sensitive to!
Umm, interesting. But why do we need this?
Well, around 7 crore people in India are affected by rare diseases.Ā
The cost of treating these rare diseases can run into tens of lakhs or even crores.
Thatās where the genome testing kit comes in.
By testing your DNA sequences, you could find out whether you contain the genes for a rare disease, or even cancer and diabetes.
1 in 8 people who tried genome testing found that they had the genes for an underlying disease.
Genome testing could help us focus more on preventative care rather than treatment.
A rare disease could be detected early on, and with the right treatment, it could be cured. Symptoms of diabetes or cancer could also be detected early on, and prevented from reaching the final stage.
Why treat cancer when you can prevent it?
Other benefits of Genome Testing? We could create tailor-made drugs for our bodies!
Impressive. Are we discovering this gem only now?
š Indiaās Affair with Genome Testing
Well, genome testing has been around for quite some time. In some countries like the US, they even have genome testing kits for animals.
The only problem?
These kits are too expensive.
For instance, 23andMe, the leading genome tester in the US, sells kits for $199 or approximately Rs. 16,500.
In India, there are two leading genome testing companies: MapMyGenome and MedGenome. And, they are also pretty expensive.
We reached out to MedGenome for a quote. MapMyGenome takes Rs. 89,000 for whole genome sequencing.
Unaffordable, no? (MapMyGenome has some affordable basic test options that can help you plan a baby or find out cancer-related risks).
Well, well.Ā
Enter Ambani with his khaasiyat (specialty): making unaffordable affordable.
Reliance is launching a genome testing kit that will cost only Rs. 12,000 (as claimed in an interview)!Ā
If youāre thinking Reliance got its hands dirty and developed the kit itself, it did not.Ā
It turned to the fastest route of entering an industry: acquisition!
Reliance Strategic Business Ventures (an RIL subsidiary) has bought 57.6% stake (in 2021) in Strand Life Sciences, a genomics-based research and diagnostics company.
Now, is Ambani doing this only for the greater good? Whatās in it for him?Ā
š§ The New Data Mine?
Money, lots and lots of money.
The potential that genome testing has in India is insane.
The healthcare space in India is worth $372 billion!
No wonder Tata, Adani and Ambani are all betting big on this space with their diagnostics services and e-pharmacies.
Ambani could get one step ahead of them all with his bet on genome testing. How?
Data, lots and lots of biological data.
This data will highlight what percentage of people are predisposed to cancer, what percentage have diabetes, which rare diseases are more prevalent and so on.
Reliance could either sell this data to a drugmaker orā¦
It could manufacture drugs itself. In fact, RIL could get into the business of making personalised drugs and preventative care!
But, hey. This Rs. 12,000 kit could still be too expensive for the common man of India.
Even those who can afford it may not actually buy it because we Indians donāt visit the doctor until it gets too worse.
Out of all our healthcare spendings, only 9.6% goes towards preventive healthcare!Ā
This trend is changing but genome test kits could take time to be accepted since theyāre relatively new in India.
RIL will also have to work on educating users about these kits to ensure that they are adopted and accepted.
So, just an acceptance problem?
Nuh-uh. This sector is currently unregulated. If the government regulates it, it could impact RILās business model.Ā
The scariest problem of all tech-enabled sectors: data privacy.
Will Ambani democratise this space and truly impact the lives of this country? Or will this be a miss?
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