By Kashish Tandon
(Reuters) -Japan’s Omron is planning to boost its presence in the Indian market, its CEO said on Thursday, as a surge in hypertension cases in the country is expected to create a large market for its blood pressure monitoring devices.
“The population of people with hypertension is huge compared to other countries, but penetration is still very low,” Omron Health CEO Ayumu Okada told Reuters.
As part of its plans to bolster the accessibility of its blood pressure monitors and electrocardiograms for home use, the company is building its first manufacturing plant in the southern Indian city of Chennai.
The Indian market currently contributes over $200 million to Omron’s annual sales, and the company has plans to boost it further through expansion plans and by exploring other sales channels.
Omron said it was in talks with policymakers to address a lack of formal guidelines for the prescription of medical devices in the country.
“We are engaging with decision-makers, and once guidelines are in place, doctors will be able to recommend our products more systematically. That will be a key growth driver for us,” Okada said.
India has been seeing a rise in hypertension cases over the past decade, as a booming economy drives a change in lifestyle and food habits.
About 24% of Indian men and 21% of women aged 15 and above had elevated blood pressure in 2019-20, up from 19% and 17%, respectively, in 2015-16, according to government data.
Despite a steep rise in hypertension cases, the use of BP monitors remains low at about 6%, although it has doubled from 3% three years ago, Okada said.
Omron has benefited from the rise of e-commerce and quick commerce platforms, which have helped boost sales, she said.
(Reporting by Kashish Tandon in Bengaluru; Editing by Dhanya Skariachan and Anil D’Silva)
Comments