Omron Plans Major Expansion With Launch of Several Advanced Medical Devices in India
12/17/2012 8:29:07 AM
Japan-based Omron Corporation, a leading player in the healthcare technology sector, is planning to consolidate its presence in India with new products and by expanding the network of outlets, aiming a three-fold increase in the sales by 2015. “The company has a present market share of 57 per cent (blood pressure monitors in unit base) and we aspire to accomplish a growth as quickly as possible by extending our business in promising markets- the explosive growth of which is now driving the global economy. India has sustained a 30 per cent growth over the last three years. We have managed to break through the markets unusually well,” said Shinya Tomoda, the managing director, Asia Pacific Omron Healthcare Pvt Ltd. Omron healthcare sales are projected to be US$ 14 million in financial year 2012 from 8.2 million dollars of 2011. “Omron Corporation, is looking at over three-fold increase in sales here to touch US$ 43 million (over Rs.235 crore) by end of FY15 riding on new product launches and network expansion. The sales target would be achieved by increasing the number of retail outlets across the country from the current 15,000 to 33,900 by the end of FY 2014-15. We are also planning to extend our reach to Tier-II cities as a part of our growth strategy in India,” he told Pharmabiz. “Our strategy in India would necessitate increased focus on hospital business and expansion into tier-I and tier-II cities where we are not currently present. While the blood pressure monitor remains our flagship product here, we would be bringing in a series of products in the immediate future — both for hospital as well as domestic use,” he said.