We recognise the potential that India offers as a market and are focusing on growing the business aggressively, shares Hisao Masuda, Managing Director, Omron Health Care Services, India with Elets News Network (ENN)
Its interesting to note that Omron Healthcare focuses on home-based healthcare monitoring. How interesting and big is India in terms of home- based monitoring equipment and which are the key segments where you see the maximum adoption?
Home health monitoring market is growing at a fast pace. According to Sandler Research, it is expected to grow at a compound annual growth rate (CAGR) of 8.85 per cent during the period 2016-2020. This clearly shows the potential this market holds along with the scope of growth.
With the kind of lifestyle changes that the urban Indian is going through, health has somehow taken a backseat due to which there has been a considerable rise in lifestyle diseases, such as hypertension, asthma, obesity, etc. In majority of the cases, people are unaware of the fact that with regular monitoring, such diseases can be avoided and the higher risk of acute problems can be mitigated. Hence, preventive care can go a long way in controlling health problems within the comfort of ones home. Preventive care plays a key role in the overall healthcare of individuals and India continues to be one of the key markets of Omron healthcare. Over the last few years, we have focused on building our product awareness in the region. In 2015, we achieved a 36 per cent growth in blood pressure monitor (BPM) sales; this proves to show that there is a need from the consumers end that has to be addressed. We have constantly focused on reaching out to the aging population of the country (40 years and above) and along with that we are now focusing on caregivers, which essentially means young working individuals who are responsible for taking care of their elders/parents in the family.
In the next phase of development, we would like to focus on creating awareness about preventive care in the country and dive deep into tier-II and tier-III cities to further strengthen our position as the leading preventive healthcare company in India. Currently, we are the leading player in Indian market for BPMs and nebulisers, with respect to both volume and market share. We recognise the potential that India offers as a market and are focusing on growing the business aggressively. Our target for the next 3 years is market penetration and increase share of market.
How far has Omron Healthcare succeeded in integrating its home-based monitoring equipment with the regular medical facilities to enable ease of access and strengthen preventive cure?
We are closely working with the key opinion leaders in each market (KOL program). KOL program, an educational process which enables to continuously renew the clinical knowledge and practical skills for medical professionals, and Omron aim at improving the quality of care and safety of patients.
As these key opinion leaders understand the importance of preventive care, they recommend the home monitoring equipment to every patient (such as BPMs, nebulisers, weighing scale and blood glucose meters (BGM)).
Are all of your devices adaptable in home-based environments or some of the professional products are meant specifically for medium and smaller size medical facilities?
We offer a wide array of preventive healthcare devices for both personal home care and hospitals (mid and small sized) as mentioned below:
Home care products:
- BPMs: There are two types, including upper-arm type and wrist type
- Thermometer: there are three types including forehead type, ear type and pencil type
- Body fat monitor
- Weighing scale
- Step counter
- Cushion massager
- Pulse massager
- Pulse oximeter
Hospital use products:
- Non-invasive vascular screening device
Currently, we manufacture our products in Japan, China and Vietnam, and will look at manufacturing in India, once we reach enough volume to justify the investment in a manufacturing facility.
What are the key challenges and benefits in operating an emerging market like India? Do you see a progressive behavioural change when it comes to adoption of home- based machines & wearables?
Some of the major challenges include transportation, tax issues and infrastructural issues. However, home healthcare is one of the fastest growing markets and India is second only to China in both scale and future expectations. In India, there is limited awareness about diseases, such as hypertension, asthma, etc. At the same time, a large part of the population is unaware of devices that can help in reducing high risks involved with these diseases. In order to bring more awareness about the diseases and the device, we initiated the following activities:
- Digital promotional activities to engage the youth: Here, we have gone ahead and educated the consumers about preventive healthcare devices and diseases that it can monitor.
- On ground activities: We have conducted road shows in various parts of the country, including tier-I and tier-II cites by holding free BP and body mass index (BMI) check- ups for the consumers.
- Additionally, we have also used electronic channels, such as radio and TV, to promote our devices in tier-II cities in the country.
We will continue to play a major role in the preventive healthcare segment with our deep focus towards engaging with consumers and educating them about various diseases and preventive tools that can help them in living a healthy lifestyle.