BUSINESS
Axio Biosolutions is going great guns with its product -- Axiostat, a patented sponge-like dressing that stops bleeding within minutes, which is used extensively by the Indian Armed forces, BSF, CRPF, and the NSG. Funded by marquee investors including Accel Partners, IDG Ventures and GVFL, the company is now chalking out plans to enter new markets while consolidating its presence in India. Leo Mavely, founder and CEO, Axis Biosolutions, spoke to Priyanka G, about his plans in the global haemostat market.
How is the global wound care market evolving?
Haemostat is a large chunk of the wound-care market, and is around $7.7 billion globally. It is predominantly focused on regulated markets like the EU, US, Japan, and Germany. In India, the haemostat market is less than $100 million and the advanced wound care market is almost non-existent. We are focused on a very new segment. I started with road accidents as a focus area and realised the market is almost non-existent, and it was difficult for a start-up per se to create awareness. So, then we found that the Indian military had immediate requirements and the segment there is quite mature.
Apart from the military, which other segments is Axiostat used for?
We ventured into emergency care since that has a sizeable demand. We have now ventured into cardio vascular and dental and are looking out for more indications. Axiostat uses chitosan, which is a biomaterial in the base platform, is versatile and can be customised to suit cardiac care, dental, emergency care and for the military. For instance, we have a haemostatic plug for dental extractions that has been designed specifically for dental procedures.
How are you looking at taking Axiostat ahead in the Indian market?
We are keen on entering the B2C (business to consumer) segment. We already supply to groups which are into adventure, trekking and biking. But we are not really there out in the market through pharmacies as yet. The price points are different in India, especially for a wound-care product. So, once the market is mature enough, we intend to enter that market. Kidney dialysis and the surgical market are other two segments we could look at when the time is right.
What sort of a presence do you have abroad and where does India stand?
India is a major market for us. From an international perspective, we are focused on building a brand which is from India but delivers a global product. We are present in 12 countries across the Middle East, Africa and Europe, where we have either our team or distributors. We recently launched in the UK and are focused on investing in marketing and building our brand in these geographies. Next year, we intend to enter the US and Canada and that will come along with Latin America.
How is your new manufacturing plant in Ahmedabad shaping up?
Yes, we invested in this plant earlier in the year and it went operational last month. It has a capacity to produce 2.5 lakh units per annum, expandable up to 5 million units. This is our own facility and we have full control.
What is the road ahead like for Axio?
For us, it is all about brand building. We are looking at other segments in the wound-care market, more specifically towards chronic care, focused around major indications like diabetic wounds or burns. We look towards building novel offerings and innovative solutions.
Elon Musk, Jeff Bezos have new 'job', they now works for...
Ex-India captain's clip goes viral amid India's batting disaster, fan says, 'he is trolling BCCI'
Meet people who will execute Ratan Tata's will, not Noel Tata, Jimmy Tata, they are...
US charges former RAW official for plotting to kill Sikh separatist Gurpatwant Singh Pannun
Byju's Raveendran finally BREAKS SILENCE on his rumoured move to Dubai amid legal tussle
What are Nita Ambani's lavish daily habits and how much does she spend in a day?
Karisma Kapoor reveals this actress on Hum Saath Saath Hain set would sit alone, eat only…
Ratan Tata's neighbours share stories of everyday encounters with him, say he was...
Viral video: Internet can't stop gushing over this little girl's breathtaking dance, WATCH
THIS Gautam Adani company's shares are in spotlight as it raises Rs 42000000000 in...
Delhi-NCR's air quality turns 'poor', AQI reaches...
India-Canada row: ‘No action on request to arrest Lawrence Bishnoi gang members’, says MEA
Cyclone Alert: Odisha coast likely to face cyclone next week, IMD issues alert
Noida school horror: Victim's mother reveals 'my daughter was told...'
‘India and Pakistan should bury the past’: Nawaz Sharif after S Jaishankar's visit
'Dil to bachcha hai ji': Rahul Gandhi's heartfelt interaction with kids, WATCH viral video
JEE Main 2025: NTA releases important notice on JEE Main exam pattern
Blow to Mukesh Ambani as Reliance Jio loses 10.9 million subscribers due to...
Joe Biden reacts to Hamas Chief Yahya Sinwar's killing, says 'that obstacle no longer exists but...'
Viral video: Desi girl's sizzling dance to 'Aaj Ki Raat' impresses internet, watch
Watch: Heartwarming video of girl treating slippers like a baby goes viral
Earn Rs 250000000 through THIS NASA challenge: Here’s how you can participate
DNA TV Show: Bahraich murder accused shot in police encounter near Nepal border; 5 held
Good news for Narayana Murthy, Infosys net profit rises to Rs 6,506 crore
Tamannaah Bhatia questioned by ED in Guwahati in money laundering case, details inside
Hamas leader Yahya Sinwar killed in Gaza, Israel PM Netanyahu confirms
UGC NET June 2024 Result DECLARED: NTA announces UGC NET 2024 June exam result online, check here
Did IDF eliminate Yahya Sinwar, or has Martyr been born in Gaza?
Hamas chief Yahya Sinwar among 3 killed by Israel? Israel Defense Forces updates
Kangana Ranaut's Emergency finally cleared by CBFC, new release date...
Here's the film after which Shah Rukh Khan started drinking, his co-stars were Aishwarya Rai and...
Akash Ambani, Shloka Mehta live on 27th floor of Rs 15000 crore Antilia, here's why
Young entrepreneur’s Rahul Sachdeva journey to make foreign education accessible
Is Rajinikanth's Poes Garden home flooded amid Chennai rains? Here's the truth behind viral video
'My family is broken but..': Zeeshan Siddiqui's first reaction to father Baba Siddiqui's death
DNA Auto Award 2024 Has Spoken: Jawa 42 FJ, bringing Neo-classic revolution in Motor Industry
Apple iPad 10th gen vs iPad 9th gen: Should you buy or wait for iPad 11?
Nita Ambani's hairstylist explains why haircuts can't fix damage and offers solutions
Bigg Boss Kannada's Kiccha Sudeepa retires from hosting duties, says 'let's make this season...'
Air India flight from Mumbai transmits emergency signal over London, claims Flight tracker
Elon Musk applauds India's decision: Spectrum allocation favors open access and innovation
BIG UPDATE on IPL auction, Saudi Arabia to host event, will take place on...
Two Bahraich violence accused shot by police in encounter while fleeing to Nepal; 5 held
'I won’t be returning': South African legend bids farewell to Sunrisers Hyderabad ahead of IPL 2025
Indian stargazers spot rare, ancient comet after 80,000 years, see breathtaking pics
'46 all-out new 36 all-out?': Cricket Australia trolls India after batting collapse vs New Zealand
Karwa Chauth 2024: Know the date, timings, history and significance
Mukesh Ambani's Jio superhit 5G plan, offers 90 days validity with unlimited data
IND vs NZ: Virat Kohli equals THIS unwanted record with 9-ball duck against New Zealand in 1st Test
Proba-3: ISRO to launch ESA Solar Eclipse Mission with precision satellites