OMRON Healthcare aims for 30% growth in India, looks to expand footprint

Japanese medical device giant OMRON Healthcare is aiming to turbo-charge its growth, targeting a 30% increase in revenue each year for the next two fiscal years. The company’s strategy hinges on geographical expansion and a renewed focus on early detection and treatment of chronic diseases. 

OMRON Healthcare has established a strong presence in cardiovascular disease management, primarily through its digital blood pressure monitors and awareness campaigns promoting home monitoring. This focus will continue, with the company aiming to further diversify into Remote Patient Monitoring (RPM) through collaborations with AI technology providers in cardiac and medical technology spaces, Tetsuya Yamada, Managing Director, OMRON Healthcare India, told BT. 

“We will continue to diversify into the RPM domain, particularly for remote Afib detection,” said Yamada. “Additionally, we will intensify efforts in respiratory disease management by introducing innovative devices and promoting early detection using nebulisers for asthma and other ailments." 

This dual focus, coupled with geographical expansion into Tier II, III cities and rural areas, is part of OMRON’s ambitious growth target. The company plans to leverage India’s vast network of over 600,000 pharmacy retail outlets to improve accessibility and drive adoption of home monitoring devices. 

OMRON Wheezescan, a new portable device for quick and accurate wheezing detection in children under 5, which the company plans to launch in FY24, exemplifies this commitment to early detection. By enabling timely diagnosis and treatment, Wheezescan aligns with OMRON’s broader “Early Detection and Early Treatment” philosophy. 

According to market research company Mordor Intelligence, the patient monitoring devices market in India is projected to reach Rs 18,928 crore by 2028, driven by rising chronic diseases, preference for home monitoring, and user-friendly devices. While OMRON faces competition from both multinationals and SMEs, it emphasises its commitment to delivering the best quality, accuracy, and user-friendliness while remaining competitively priced. 

“We actively raise awareness among healthcare providers and consumers about the importance of investing in good-quality medical devices,” Yamada said. “Our expanded presence in Tier II and III regions aligns with our goal of making these devices accessible to a wider population,” he said. 

OMRON’s ambition extends beyond market share. “In India, cardiovascular diseases are a significant health concern. We aim to significantly increase the adoption of digital blood pressure monitors, considering the current low penetration rate of 5% among India’s 220 million hypertensive patients. We have set a target of reaching 20% penetration, or around 44 crore users, by 2030,” said Yamada. 

The company is also planning to collaborate with organisations in the MedTech space so that it can generate more value in remote patient monitoring as well as in the AI space.  

OMRON has recently collaborated with organisations like Tricog (remote cardiac diagnosis) and Glenmark (early blood pressure monitoring awareness campaign). Additionally, the company is enhancing its OMRON Connect app to encourage user engagement and strengthen the connection between patients and healthcare providers. 

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