2019 was an eventful year for the Transasia-Erba group as we celebrated our four decades of commitment to the health of our fellow Indians, and brought India on the diagnostic technology map of the world.
We have an important year ahead for making sure we maintain our leadership position as India’s largest IVD company.
It is important to highlight that in India availability, accessibility, and quality of health services still pose a big challenge, and the diagnostic industry is no exception. The role of local diagnostic manufacturers like Transasia is critical here in providing solutions that are affordable and backed by efficient after-sales services in every part of India.
To this effect, we have identified three pillars of growth – first to strengthen and grow our existing customer base to over 120 countries; second to scale up our production base and third to strengthen our product portfolio with new product launches in areas of cutting-edge technologies like molecular sciences, artificial intelligence, and Internet of Things.
Our reach has been our biggest strength; we have the largest team of sales and service personnel in the Indian IVD Industry and in over 100 countries. This has given us the competitive edge, helping us reach the remotest locations. We will continue to further harness our capabilities.
Trends like lab automation and digitization will have a profound impact on how technology is being used to enhance patient care.
Our plan is to expand our avenues for testing of infectious diseases, a growing concern for India and the emerging countries.
We are also doubling our R&D spend to achieve this objective. This will be a key element of our strategy for sustained double-digit growth year-on-year.
Between 2020 and 2022, our R&D labs in France, UK, USA, Austria, and India would be launching over ten new, exciting, state-of-the-art instruments in the major fields of chemiluminescence, molecular tests, high-end hematology, artificial intelligence, LIS, etc., which will soon make Transasia the fourth company in the world to have Total Solutions in Laboratory Diagnostics.
In this context, Transasia is now focusing on new overseas markets, such as Brazil and Russia, to roll out affordable solutions to those markets. Emerging countries struggle to address the challenges of quality and affordable diagnostic solutions, and we aim to cater to these markets through our global outreach and expertise in emerging countries.
Most importantly, we recognize that our role is more than just a diagnostic provider; and we are an integrated company.
Providing end-to-end services with an emphasis on training will continue to remain most relevant to us, as the need for knowledge and competencies continues to increase.
As always, we remain committed in our quest to help create a healthy and happy world. We look forward to continue serving the world with our innovative, reliable, and affordable diagnostic solutions which have been our calling since the last forty years.