Omron Targets a 20% Penetration Rate by 2030 in the Indian Blood Pressure Monitor Market

Tripling sales is a key objective for Omron, which sold approximately 1.6 million monitors in India in the fiscal year 2022. With 70% of its sales generated offline and the remaining through e-commerce, the company eyes a diversified market approach.

Omron Healthcare, the world's leading manufacturer of home blood pressure monitoring devices, is set to make substantial inroads into the burgeoning Indian market. Anticipating a surge in demand driven by an ageing population and changing lifestyles, the company aims for a 20% penetration rate in India by 2030.

Tripling sales is a key objective for Omron, which sold approximately 1.6 million monitors in India in the fiscal year 2022. With 70% of its sales generated offline and the remaining through e-commerce, the company eyes a diversified market approach.

Going forward, Omron plans to extend its reach beyond metropolitan areas, introduce new products, bolster online distribution, and collaborate with local pharmaceutical firms and startups to enhance awareness.

Highlighting the untapped potential in India, Tetsuya Yamada, MD, Omron Healthcare India, said, "India has just 2% penetration of home blood pressure monitors; when compared to BRICS nations, it is significantly lower." 

Deliberating on the same, Yamada emphasised that Omron aspires to attain a 20% penetration rate by 2030, with projected demand reaching 14 million monitors in FY30, positioning India as the second-largest market globally, followed by China.

"We had a challenging experience during the Covid pandemic. Our manufacturing site is located outside of India, causing delays in timely supply. Therefore, we decided to establish a factory here," Yamada added.

Earlier, in order to meet the escalating demand, Omron planned to begin operations at its upcoming manufacturing facility in Chennai, Tamil Nadu, by March 2025. 

The new facility will manufacture blood pressure monitors and cater to the domestic market. The launch of the manufacturing facility in Chennai will also contribute to the local economy by creating job opportunities and fostering economic growth in the region. Furthermore, it strengthens Origins by Mahindra's position as a thriving industrial cluster, attracting global companies and promoting industrial development in the Chennai area.

The decision to establish a production unit in Chennai, Tamil Nadu, was influenced by challenges faced during the Covid pandemic. Further, this initiative aligns with Omron's commitment to provide timely and efficient supply to meet the growing demand for home BPM devices in India.