Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
Growth Strategies 20 Feb 2015

Elder Pharma steps into Rs800 Crore nasal inhaler segment with Solo inhalers

Targeting an 8 to 10 per cent annual growth in the nasal decongestion market, Elder Pharma has forayed in to Rs800 crores market. At present, the nasal inhaler segment is dominanted by brands like Vicks from P&G with over 50 per cent market share.

Expanding its over-the-counter (OTC) products range, Elder Pharmaceuticals Limited has launched Solo range of inhalers for nasal congestion. The Solo basket comprises of Solo Rub, a pain balm, Solo Cough Drops and Solo lozenges for throat soothening.

Presently, the brand is aiming at 8 to 10 per cent annual growth in the nasal decongestion market.  With an eye on the rural markets, the company is also launching these products in smaller sizes and has earmarked a budget of Rs25 crore for promotional activities.

Commenting on the new move, Alok Saxena, Managing Director, Elder Pharmaceuticals Limited said, “Over-the-counter inhalers are the first level treatment for nasal congestion and doctors/specialists are consulted only if the condition worsens. Rising cost of raw materials, competitive market conditions and over dependency on the urban markets had affected the sales of the company’s OTC products in the recent years. With focus on price, product mix and penetration, Elder is set to regain its prime position in the OTC sector.”

Significantly, the market for cough and cold care solutions too witnessed a growth of 10 per cent during 2013-14 due to rising erratic weather, further increasing seasonal health problems such as cough, cold and allergies. The company has also introduced Solo lozenges in polypack for better visibility and customer use. An ayurvedic cough syrup, which gives more than 12 hours of relief and has no side effects, is also ready for launch in April 2015.

Adding on the same, Saxena further said, “In view of the highly competitive nature of the industries we operate in, we plan to focus on branding, packaging upgrades, wider distribution and innovation to make our brands successful.
The company has also lined up marketing strategies to offer combination products for an attractive price in order to lure the rural consumers to try out it new launches.”

Experts believe that the market for inhalation generic drugs is quite promising for India due to climate change and rapidly aging demographics where 22 per cent of population is above 55 years of age.

The market is presently valued at Rs800 crore with Vicks from P&G dominating with more than 50 per cent market share. There is a large untapped market in India and Elder Pharma is hoping to garner a 7 per cent share of the nasal decongestant market by FY2018.


Image curtesy: www.allergyclinical.com

Comment
Related opportunities
  • Quick Service Restaurants
    Be a Part of Growth Story by joining hands with..
    Locations looking for expansion Andhra Pardesh
    Establishment year 2012
    Franchising Launch Date 2014
    Investment size Rs. 5lac - 10lac
    Space required 450-1000 sft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Adilabad Andhra Pardesh
  • Casual dine Restaurants
    About:Hotel Bhagat Tarachand is a decorated name in the culinary..
    Locations looking for expansion Maharashtra
    Establishment year 1950
    Franchising Launch Date 2015
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 500 - 2500 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Others Dealers And Distributors
    About Univerf paints & CoatingsUniverf paints & Coatings is an..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 350 - 600 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Activity Centres, Day Care & Creches
    About:To tap the lucrative market of 'kids edutainment', "Play Streat™..
    Locations looking for expansion Telangana
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 30lac - 50lac
    Space required 3500 - 7000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Hyderabad Telangana
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories