The $3.5 billion US medical equipment company ResMed, has forayed into India. Started with a direct marketing office to support the existing distribution set up in the country, ResMed would initially focus on the brand awareness and promotion activities in India to build up its two key market segments -- homecare and hospitals.
Puneet Sahai, managing director and head Indian operations, said the company is currently working out different strategies to establish its presence in the local market through the its products have been there in the market for some time now through its distributors. ResMed has a sales turnover of about Rs 50 to 60 lakh (Rs 5-6 million) at present in India.
"We will be spending about almost the same amount for the initial market expansion plans. Later on, the company may also look into the possibilities of setting up a production base in India. Setting up a manufacturing facility for the sophisticated equipment would require world class technology and the appropriate investment. Currently we are sourcing most of the products from our state of the art facility in Sydney and setting up a similar plant in India will need substantial investment," Sahai told Business Standard.
Apart from the marketing activities, the company has now planned very extensive clinical research activities as well in the country. ResMed will be conducting three major clinical trial projects in India.
Industry analysts said since the Indian medical equipment and diagnosis market is growing at much faster rate, the global companies are incresingly looking at the market today. ResMed, as per its current plans may put in an FDI of at least Rs 100 crore (Rs 1 billion) in India to explore this opportunity, they said.
Established itself strongly in the US and European markets the company is now leveraging the growth opportunities in Asia Pacific markets.
Headquartered at San Diego USA the company will target the major metros and tier two cities like Chandigarh, Jaipur, Lucknow and others in India.
The company's Asia Pacific headquarters is based in Sydney, Australia.
ResMed is a leading medical device developer, manufacturer and marketer for diagnosis and treatment of Sleep Disordered Breathing (OSA) and non-invasive and invasive ventilation products.
