Wellness Franchise Opportunities

Growth StrategiesFeb, 20 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.

By WI Bureau

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

Related: 7 growth factors in Beauty & Wellness space

Click Here to add Comment
Please add your Comment
Rating
Sell Business 2017
Sell Franchise 2017

Newsletter Signup

Submit your email address to receive the latest updates on news & host of opportunities from Wellness India.

Video

Magazines & Books

Read the latest franchising magazines and books to get comprehensive and up-to-date information on leading franchise systems, trends and more.


Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Well Ness India

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit www.franchiseindia.com/terms.