Bindu D. Menon

New Delhi, July 07 Philips India is adopting a three-pronged strategy to consolidate its leadership position in the healthcare space. The company is scaling the number of its distributors to cater to the demand from the booming healthcare sector besides adding innovation to its range of products.

“There is buoyancy in the healthcare space across the country. We believe that as much 35-40 per cent of the total investment into setting up of a hospital is on the equipment. This gives a huge untapped market opportunity not just in the metros but also Sec A and B cities,” Mr Anjan Bose, Senior Director, Medical Systems Indian Sub Continent, told Business Line.

The medical equipment business in India is estimated to be Rs 28,000 crore and growing annually at 12-15 per cent.

The company, with a market share of 50 per cent in the diagnostic imagery and critical care arena, is also hoping to become a total solution provider. “We not just deploy our products but also use our extensive customer insight into the developing an ambience conducive for patients-care”.

Mr Bose said Philips’ core focus for the year will be increasing its distribution, imparting appropriate medical education to operate the healthcare devices and also maintain a cost which is in tune with the market requirement. “We will also significantly increase the number of our distributors for the healthcare vertical from 50,” he added.

The Indian arm of the Netherland-based Royal Philips also has India’s first High Definition Multimedia Interface (HDMI) authorised testing centre in its Bangalore-based Philips Innovation Campus.

Philips has also introduced its iCT scanner in the Indian market.

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