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Omron Healthcare India eyes 27% revenue growth to Rs 150 cr in FY21

Medical devices maker Omron Healthcare India is eyeing 27% rise in revenue to Rs 150 cr in FY21 on the back of increased awareness about home monitoring among people, a top company official said

Topics
healthcare | Medical devices

Press Trust of India  |  New Delhi 

A nerve stimulator from Omron
A nerve stimulator from Omron Healthcare

makerOmronHealthcare India is eyeing 27 per cent rise in revenue to Rs 150 crore in 2020-21 on theback of increased awareness abouthome monitoring among people, a top company official said onSunday.

The company had a revenue of Rs 118 crore in 2019-20, Omron said in a statement.

"We are expecting revenue of Rs 150 crore in the current financial year,"OMRON IndiaManaging DirectorMasanori Matsubara told PTI.

One of the key drivers for the growth is the rising awareness about the importance of home monitoring and management of blood pressure and respiratory ailments, he added.

"The new normal created by the pandemic is enthusing people to be more careful about preventive It is also propelling them towards finding remote and virtual ways of managing their health,"Matsubara said.

This is evident in the rapid expansion of usage of telemedicine or teleconsultation which is further fuelling the need for home monitoring devices such as digital blood pressure monitors, infra-red and digital thermometers for temperature management as well as drug administrating devices like nebulizers for respiratory health management the three key market segments for the company, he added.

On the impact of COVID-19 pandemic on the company, Matsubara said: "COVID-19 has led to a significant rise in the awareness around importance of good health. People have become more mindful of their lifestyle and preventive healthcare".

For the company, this has translated into more traction towards its home monitoring products especially the digital blood pressure monitoring range, he added.

"We have also ventured into telemedicine with the launch of India's first virtual and end-to-end hypertension management service along with PhableCare the AI-enabled healthcare management player,"Matsubara said.

All this has resulted in a surge in sales of blood pressure monitors by as much as 30 per cent in the post COVID-19 months, he added.

When asked about the geographical expansion plans of the company, Matsubara said: "As far as the untapped market goes, from the geographical point of view, we aim to target and create more awareness amongst the tier 2 to tier 4 cities, as the metro cities are still quite aware of the hypertensive condition and do well in terms of blood pressure monitor sales".

Another focus area is the rural population that also suffers from hypertension,he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sun, September 06 2020. 12:00 IST
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