Shinya Tomoda, Managing Director, OMRON Healthcare, India, is keen to strengthen the market network with a turover of 110 crores. In conversation with Shahid Akhter, ENN, he discusses his vision and views
CWhen was Omron established and how did it gets its name?
Omron was established in 1933 as Tateisi Electric Manufacturing Co.
The origin of the name OMRON can be found in Omuro, the district where Tateisi (our founder) first set up shop in Kyoto city. The company name symbolizes a corporate culture focused on innovation and creativity and is now a brand that is synonymous with quality throughout the world.
How has been the journey so far?
OMRON has completed 81 years of its existence in 2014. Today, it is a multi-billion-dollar, diversified company operating in healthcare, industrial automation, electronic components, social systems, and environment fields.
It has presence in 35 countries and more than 30,000 employee base. In many of the countries, we are one of the leading providers of many home healthcare monitoring devices, for example, we have the highest market share in digital BP monitors in India as well as across the globe.
When did OMRON foray into healthcare products and devices in India?
OMRON healthcare products were made available in India in 1997. To- day, we are a key player in the health care segment providing innovative medical devices for monitoring and therapy for health monitoring at home. The home monitoring portfolio comprises of home healthcare products such as blood pressure monitors, body fat analysers, pedometers, digital thermometers, respiratory therapy devices, etc.
We have more recently forayed into medical devices sector to be used at hospitals / clinics by doctors and professionals with the products such as BP monitors to name just a few.
What product category is driving business in India for OMRON?
It is the home use digital BP monitors. OMRON healthcare has the highest market share (approximately 70 percent) in the country. Our range of digital BP monitors aim to pro- mote the healthy practice of BP monitoring at home with its best of user-friendly features based on advanced technology.
How do you visualise the blood pressure monitor market in India?
In India there are more than 130 million people suffering from hypertension and the penetration level of home usage of BP monitors is just 2.8 percent. As compared to other countries such as China (15 percent) and Japan (33 percent), this percentage is too low.
This indicates that there is a huge need to promote the practice of homeBP monitoring in the country which is one of the best and the most desirable and easy steps to protect oneself from life threatening disorders.
“The company aims to clock in a turnover of `110 crore in this FY (2014-15) which indicates a growth of around 54 per cent over the previous FY“
What is OMRONs health care vision?
Omron Healthcares vision is Health- care @ Home. It is based on the idea of helping people to utilize their own health data at home so that they, and their medical professionals, can utilize this valuable information to prevent, treat, and manage lifestyle-related diseases. We continually challenge our- selves to achieve a society where people can enjoy healthy and comfortable lives.
Why should a consumer choose OMRON over other available products ?
OMRON products are noted for their accuracy. Also, we have a wide range of products to suit various budgets. There are many different OMRON blood pressure monitors sold in India and theprice varies from ` 1900 to ` 4000. Our strategy is not to beat the competitors but to expand the market.
Your business plan and road map for the next fiscal year ?
The company aims to clock in a turnover of Rs 110 crore in this FY which indicates a growth of around 54 per- cent over the previous FY.
Strong product portfolio and ro- bust partner network have been instrumental in propelling OMRONs healthcare business in the country. We strive to expand our reach by en- tering new distribution channels .
Your efforts in pan India coverage?
We are intensifying our pan India marketing efforts to give a boost to the brand awareness and penetration. One of the major initiatives in this regard is a TV commercial campaign which shall be rolled out in August (till September, 2014)
The company also aims to further spread the network of its traditional channel (pharmacies/ chemists) by covering 45,000 Tier 1 and 2 cities in this FY through 100 distributors across the country. This FY, the company has also charted out strategies to scale up further in the home glucometer segment the way it has done in the home BP monitoring domain.
“Omron promises to bring to India newer technologies to facilitate care for the rising chronic disease scare amidst billions of people“
What new products are being launched by OMRON in near future?
Omron promises to bring to India newer technologies to facilitate care for the rising chronic disease scare amidst her billions of people. For this purpose OMRON uses its latest proprietary biometric sensing technology in all its home-use healthcare devices, health management services, and testing devices for medical institutions at a price thats more economic than competition.