Cupid Limited, a prominent player in the healthcare industry, has announced a significant expansion into the Indian market with the launch of a comprehensive distribution network for its Rapid In Vitro Diagnostic (IVD) kits. This strategic move is aimed at reinforcing Cupid’s footprint in the global IVD market, reflecting the company’s ambitious growth plans.
Strategic Market Penetration
Cupid Limited’s foray into the Indian market includes the distribution of its IVD kits across several states, such as Maharashtra, Goa, Gujarat, Rajasthan, Jammu & Kashmir, and Madhya Pradesh. The company’s objective is to achieve a nationwide presence by the end of the fiscal year. To support this expansion, Cupid has assembled a robust sales team dedicated to this mission.
India’s rising disposable incomes and increasing focus on preventive healthcare have led to a surge in demand for diagnostic services. With over 100,000 diagnostic labs, many of which are standalone or hospital-affiliated, the Indian market presents a lucrative opportunity for Cupid’s innovative IVD solutions.
Product Portfolio and Market Penetration
Cupid Limited offers a diverse array of 13 IVD kits, marketed under the brand names “Cupikit” and “Cupisure”. The company is working towards positioning Cupikit in over 10,000 diagnostic labs and aims to distribute Cupisure pregnancy detection kits to more than 100,000 chemist outlets by the end of the financial year. Impressively, within just three months of their launch, the pregnancy detection kits have already reached 25,000 chemist outlets.
State-of-the-Art Manufacturing Facility
At the core of Cupid’s IVD production is its cutting-edge manufacturing plant in Sinnar, Maharashtra. This facility, operational for over two years, boasts an annual production capacity exceeding 30 million kits. To meet the rising demand, Cupid plans to further expand this capacity in the coming quarters.
Comprehensive IVD Product Line
Cupid’s IVD product range includes:
- Viral Transport Medium (VTM)
- Pregnancy Test Kits (HCG)
- Typhoid Ab
- Dengue IgG/IgM
- Dengue NS1 Ag
- Dengue Combo (Dengue NS1 Ag + Dengue IgG/IgM)
- HIV 1 & 2 Ab
- Syphilis Ab
- Malaria Pf/Pv Ag
- Malaria Pf/Pan Ag
- Hepatitis B (HBsAG)
- Hepatitis C (HCV)
- Luteinizing Hormones (LU)
- HIV/Syphilis Combo
Certifications and Approvals
Cupid’s IVD kits are certified under ISO 13485:2016 and ISO 14001:2015 and have received approval from the Central Drugs Standard Control Organization (CDSCO). These products are validated by esteemed laboratories, including the National Institute of Biologicals (NIB), Indian Council of Medical Research (ICMR), and NABL Accredited Labs. The company is also in the process of obtaining WHO PQ and European CE certifications for multiple products, enhancing its credibility and marketability on a global scale.
Expanding Global Footprint
Cupid has successfully exported its IVD kits to countries such as Tanzania, Liberia, Ghana, the Philippines, and Nepal. Furthermore, the company is in the process of registering its products in Cameroon, Myanmar, Bhutan, Mozambique, Nigeria, Ethiopia, Zambia, and Sierra Leone, with current export orders amounting to approximately INR 1.25 crore.
Future Outlook
To cater to the growing demand, Cupid is investing in fully automatic machines to significantly boost production capacity. The company is optimistic about the future of its IVD segment, supported by a dynamic leadership team that drives growth and innovation.
Aditya Halwasiya, Managing Director of Cupid Limited, expressed his enthusiasm: “The IVD Kits segment of Cupid is poised to be a substantial growth catalyst for our company. Our dedicated team, led by Amit Tripathi, has made remarkable progress in establishing and expanding our IVD portfolio. We are committed to leveraging our competitive edge to tap into the immense potential of the IVD market.”
