Seegene signs agency agreement with Solution One to accelerate entry into Indian market
Apr 21, 2017
On April 25, Seegene signed an agency agreement with the Indian company Solution One and held a launch ceremony. This day’s events marked the beginning of Seegene’s efforts to target the medical market in India.
A diagnostic product distributor based in New Delhi, Solution One supplies various types of medical equipment and in-vitro test products to over 110 major hospitals throughout India. In accordance with the contract, Seegene will be supplying detection products that effectively and simultaneously screen for Mycobacterium tuberculosis, atypical Mycobacterium tuberculosis, and drug-resistant Mycobacterium tuberculosis to India, the country with the largest number of tuberculosis patients in the world. This agreement with Solution One is expected to serve as a jumping-off point for Seegene to enter India’s molecular diagnosis market.
Another factor in Seegene’s favor is that the company has redeveloped its detection products for respiratory diseases, gastrointestinal diseases, STIs related to women’s health, and human papillomavirus (HPV), all of which have been well received in Europe, to meet the needs of Indian consumers. By redeveloping its products to simultaneously detect the most common tropical diseases in India, Seegene is expected to easily and quickly secure a position for itself in the market.
The contract signing ceremony was held at Hotel The Royal Plaza in New Delhi and included a session at which over 50 health experts invited from numerous medium- and large-sized medical institutions shared their thoughts on the current status and needs of the Indian medical market. Seegene also managed to secure opportunities to conduct clinical tests of its products through reputable medical institutions in India, which is expected to significantly enhance the credibility of Seegene products among local consumers.
One of regional manager from International sales & business team for Asia at Seegene said, “India’s molecular diagnosis market is believed to have high growth potential due to the country’s rapid economic growth and increasing demand for health services. Based on this agreement, we will be aggressively conducting promotional activities to introduce Seegene’s “One platform” which can perform a broad range menu of molecular diagnostic tests with reduced test cost, and will hopefully continue increasing our share of the Indian medical market.”
