“India has the potential to emerge as a frontrunner in analytics, offering unparalleled solutions that outshine those of any other nation”

India is seeing a rise in deep tech startups in the life sciences and healthcare space, with an increasing focus on ‘precision medicine’ and ‘personalised healthcare’ areas of therapy. In this context, what can be good strategies for such deep tech startups for scale-up, finding product market, and product commercialisation? Does Axtria have product solutions in the pipeline for these startups?

As the focus of pharma companies shifts from generic drugs to specialty medicine, deep tech startups have significant opportunities in niche areas like precision medicine and personalised healthcare. Conducting a thorough market analysis and identifying target customer segments are vital for these startups. Collaborating with industry experts who understand customer needs and the healthcare environment can provide valuable insights and guidance throughout their journey. 

With resources stretched thin, startups must make careful decisions from the start. One of the most critical areas for initial investment is data infrastructure. Given the regulated nature of the data, setting up the right security, anonymity, and process for handling the data is essential. The amount of structured and unstructured data available from many sources has exploded, making it easy to acquire masses of fragmented data that can be difficult to manage and enrich in the future. Strict data governance, along with the right infrastructure, is the key, and giving the customers the confidence that they know how to handle their patients’ data is required for success. 

We have developed a suite of products tailored for the life sciences industry that can turn investment analyses into pinpoint strategies. Axtria DataMAx for Emerging Pharma provides robust data management and analytics capabilities, enabling startups to streamline data integration, enhance data quality, and gain actionable insights that provide a competitive advantage in the market.

Given the dynamic landscape of India’s life sciences and healthcare sectors, and especially with deep tech startups in this space increasing in India, what are Axtria’s plans for operations in the Indian market and Axtria’s expectations for growth trajectory in the Indian market?

Our primary contribution to the life sciences industry revolves around utilising analytics and software technology to streamline and enhance the efficiency of product commercialisation. Our optimised sales and marketing strategies help minimise inefficiencies, consequently reducing healthcare costs for our clients. Within just a few hours, our solutions accomplish tasks that once took months, substantially improving cost efficiency and empowering our clients to make informed decisions swiftly.

While India’s market potential is still in its developmental phase, we recognise immense opportunities to leverage the same solutions here that we’ve refined for global markets. Despite existing cost-consciousness and infrastructure challenges, India’s burgeoning healthcare landscape provides room for innovation and growth. Through strategic investments in data acquisition and technology infrastructure, Indian companies can harness the transformative potential of analytics and AI, enhancing efficiency and fostering competitiveness on a global scale.

How can data analytics-based solutions contribute to a targeted approach to alleviating, or even curing, chronic diseases?

Data analytics plays a pivotal role in targeting chronic diseases more effectively. By leveraging predictive analytics and machine learning algorithms, healthcare providers can identify high-risk patient populations and intervene early to prevent disease progression. Data analytics can also facilitate personalised treatment approaches by analysing diverse data sources, including clinical records, genetic profiles, and lifestyle factors. This integrated approach enables healthcare professionals to tailor interventions to individual patient needs, maximising treatment efficacy and minimising adverse effects. 

In addition, data analytics can support ongoing monitoring and optimisation of treatment protocols, ensuring that patients receive the most appropriate care throughout their disease management journey. Early identification of high-risk patients enables timely interventions and personalised treatments. Medical imaging analysis that leverages AI detects cancers sooner and predicts cardiovascular issues. In neurodegenerative diseases, AI spots early symptoms, while in diabetes, it predicts complications. These technologies empower proactive healthcare, improving patient outcomes and potentially eradicating disease. Overall, data-driven insights empower healthcare providers to take a proactive and targeted approach to alleviating chronic diseases, potentially leading to improved patient outcomes and even the eventual cure of certain conditions. 

What bottlenecks, does Axtria visualise, need to be overcome in India’s pharmaceutical and healthcare sectors in general, to ensure more effective patients’ access to therapeutics and medical facilities? Especially from the perspective of deep domain data analytics expertise, how is Axtria positioned to help the above-mentioned sectors overcome the bottlenecks?

Several key challenges persist in India’s pharmaceutical and healthcare sectors, hindering effective access to therapeutics and medical facilities for patients. These challenges include regulatory complexities, fragmented data ecosystems, and inadequate healthcare infrastructure in rural areas. India should identify domains where it can excel and aim to achieve global leadership. We firmly believe that data analytics represents a prime opportunity in this regard. India has the potential to emerge as a frontrunner in analytics, offering unparalleled solutions that outshine those of any other nation. 

Axtria’s deep domain-data analytics expertise plays a crucial role in overcoming these challenges. By harnessing advanced analytics techniques, Axtria enables healthcare providers to streamline operations, optimise resource allocation, and enhance patient care delivery. Axtria helps identify high-risk patient populations through predictive analytics, allowing targeted interventions and personalised treatment approaches. In addition, Axtria’s solutions facilitate data integration and interoperability, enabling seamless information exchange across healthcare systems and stakeholders. 

Shivani Thakar

shivani.thakar@biospectrumindia.com