Healthcare and medicine have been of prime significance to mankind with the intent of sustaining our lifespans and keeping it free of any ailments. Healthcare facilities and services in India have been evolving with time and in the recent years have been on a path of continuous development.
Companies across this spectrum are ceaselessly striving to deliver the best of their potential in order to cater to the ever-increasing demands of the healthcare industry. This edition, Best of 5 Regenerative Medicine Companies, places a spotlight on those companies that are bringing about profound changes and innovations in the sphere of regenerative medicine.
One prominent name among these companies is Advancells, an India based research-oriented company focused on regenerative medicine and its therapeutic applications.
In the following interview with Insights Care, Vipul Jain, the CEO and Founder of Advancells Group shares with us in detail about the current landscape of the healthcare sector and how his company has gained a strong foothold within the same.
Below are the highlights of the interview:
Brief our readers about Advancells, its vision, and the key aspects of its strong position in the healthcare industry.
Advancells Group is a multifaceted organization which focuses on cell culture research and stem cell therapeutics to encourage academic and industrial innovations in the healthcare domain. An offshoot of the same, Advancells strongly believes that stem cell therapy and regenerative medicine can change the global viewpoint of medical healthcare in the years to come.
Humankind is looking towards an era where personalized medicine will replace drugs, organ transplantation will be based on 3D printed organs, and aging will be a reversible process. These miraculous statements will no longer be mere words upon the progression of stem cell therapy into translation and Advancells will play a major role in realizing such biomedical applications. With an expert research and clinical consultation team, we harbour the potential to hold an eminent position as a premier regenerative therapy-based global organization.
What makes your company a preferred choice among your clientele over your competitors?
Currently, stem cell banking and research have gained prominence in India, but therapy is still a neglected perspective. Advancells bridges this gap by creating regenerative therapy awareness and encouraging stem cell therapies.
When it comes to our USPs, Advancells harbours cGMP certified cell culture laboratories and expert research personnel to ensure that our clients get the best quality of stem cells for therapy and research, besides other bioproducts like tissue-specific and disease-specific primary cells.
When it comes to patient treatment and policies, with a gross 70% therapeutic success rate, many patients have found significant relief from disorders of osteoarthritis, diabetes, and ALS with stem cell therapy.
The credit of Advancells being a preferred choice for stem cell therapy, goes to our medical experts who play a major role in helping doctors, patients and care-givers in understanding the clinical potential of stem cell therapy. Besides that, low-cost and quality healthcare assurance makes more patients take up our value-added services as compared to our competitors.
From a business leadership perspective, what is your opinion on the impact of the current pandemic on the healthcare industry and the related market for regenerative medicines?
In all practicality, every industry has been financially affected by the COVID-19 pandemic and a lot of predicted CAGR percentages for biomedical trends will have to be recalculated before understanding the forecast, due to the pandemic setback.
But research-wise, the COVID-19 duration has been the most hard-working time for several healthcare and related companies. Besides spending resources and time on vaccines and alternative therapies, many big firms have pushed a lot of effort into drug designing and repurposing. Scientifically speaking, such a research pace has not been seen prior to the pandemic crisis.
Other than that, in my opinion, another major change for the companies was the transition into digital marketing for business survival. While many companies ceased to exist, and many stood strong through the storm of the pandemic, this period also laid ground for some entrepreneurs to build up their company in healthcare related fields. To sum it up, the pandemic was a survival life lesson for very industry out there.
Share with us your opinion on the necessity for businesses to align their offerings with newer technological developments, especially when it comes to changing industry trends and customer preferences?
Business and marketing strategies have evolved in the current times to a customer-based engagement-oriented marketing and the major survival criteria is to adapt. It is quite necessary for business ventures to align their services with the recently available technologies so that they can provide optimum timely and useful value-based products.
The best example to put forward is the adapting of telemedicine and telehealth technologies by healthcare business. While visiting a clinic or a doctor was regarded as ‘should be avoided’ due to social distancing norms during the COVID-19 pandemic, telehealth apps and technologies kept the healthcare business afloat. So yes, every day sees business entities moulding their ways and adapting to modern technologies to innovate themselves. That is the way it should be!
In your opinion, what could be the future of the healthcare industry post the COVID-19 pandemic? And how are you strategizing your company’s operations for that future?
As far as the healthcare industry is concerned, it is inevitable that post-COVID-19 period is going to see a bloom in business.
Regarding the operations of Advancells, we have always been a step ahead in organizing and strategizing the market demands to maintain an optimum balance between business profits and social welfare through healthcare, even in times of a crisis. During the pandemic, Advancells started producing DRDO-certified Personal Protection Equipment (PPE) kits, to help the frontline healthcare warriors, and ICMR-certified Viral transport Medium (VTM) kits, to accentuate COVID-19 sample collection for faster diagnosis. Advancells has always believed in helping people and even after the COVID-19 pandemic, we will continue following our passion, sticking to govt. healthcare guidelines.
If given a chance, what is the one thing that you would change about the business ecosystem in your respective market?
In Indian healthcare scenario, there are very few doctors who practice regenerative medicine and patients looking for an alternative treatment are not much aware of regenerative medicine or stem cell therapy too. This is a major problem in our business market as most medical personnel are themselves hesitant of prioritizing stem cell therapies.
But with advancements in stem cell research and translation, we believe that this equation will slowly get better as more doctors witness the positive patient outcomes upon the use of regenerative medicine treatment.
As an established busines leader, what would be your advice to the budding entrepreneurs aspiring to venture into healthcare industry?
The first step of any entrepreneurship venture is to have a good plan and the second step is to believe in it all the way towards success. Failure is a part of taking the entrepreneurial leap, but no success comes without it. If you have a plan, and you think you bear the potential to go along, never hesitate to work towards it.
If I have to advice regarding the entrepreneurial journey in the healthcare domain, always know the trend! Do not hesitate to work towards it. It is always better to try and fail, rather than lying around and hoping for a miracle to happen. Failure has always been considered the pillar of success and you should not let your fear or insecurities get the best of you.
If you have what it takes to be an entrepreneur, you should take the risk. For a passionate entrepreneur, every day is an experience and a lesson to learn for the company’s growth. The more you learn, the more successful will be your vision.
How do you envision on sustaining your company’s competency in a cutthroat and volatile world of business? Where do you see your company in the next five years?
Not many companies can take up the challenge of promoting stem cell therapy and encourage people to witness the positive application of regenerative medicine. In that respect, we hardly look at any company as a competitor.
We believe in working towards establishing goodwill and good health among the patients with the best quality of technology and patient-care. The world needs more people who can vouch for the therapeutic benefit of stem cell therapy and that will require more industries practicing stem cell therapy awareness along ethical lines with no false promises.