Project Report on Himalaya Products

Project Report on Himalaya ProductsINDUSTRY SNAPSHOTThe globose aesculapian industry is superstar of the worlds fastest growing industries, absorbing over 10% of gross domestic product of most developed nations. It constitutes of broad serve offered by various hospitals, physicians, nursing homes, diagnostic laboratories, pharmacies and ably supported by drugs, pharmaceuticals, chemicals, checkup equipment, manufacturers and suppliers.The medical and health c atomic number 18 industry provides enormous employment opportunities to choose from. Apart from using the services of medical professionals, this industry also utilizes the expert services of public policy lenders, medical writers, clinical look for lab workers, IT professionals, sales/marketing professionals and health insurance providers.SIZE OF THE INDUSTRYThe joined States of America has one of the largest medical and healthcare industries in the world, followed by Switzerland and Germany. The USAs medical industry co mprises of more than 750,000 physicians and 5,200 hospitals. USA come acrosses approximately 3.8 million inpatient visits and 20 million outpatients visit on a daily basis. Furthermore, the United States of America has the largest workforce i.e. one in every 11 US residents employed in the health care business.The b any-shaped prescription drug market was $550 billion in the year 2006. Also, the total health care exp wipeoutitures across the world were $4.5 trillion last year. Of which, US solely news report for $ 2.2 trillion, $ 2 trillion in OECD countries and remaining $ 0.3 in other countries of the world.MAJOR SEGMENTS OF THE INDUSTRYThe world- gigantic medical industry is highly fragmented, comprising of various accessory sectors namely medical equipment and supplies, pharmaceutical, healthcare services, biotechnology, and alternative medicines sectors.Medical Equipment and SuppliesIt consists of various establishments or units engaged in designing, manufacturing, selling and distributing of surgical and medical instruments, ophthalmic, lab apparatus, electro medical, dental, irradiation, surgical appliances and supplies. pharmaceutical IndustryIt consists of several establishments involved in developing, researching, marketing and distributing drugs or medicines. Globally, the market share of pharmaceutical industry is US $340 billion. The world(a) pharmaceutical sales account for US$ 602 billion, with an annual exploitation rate of 7%.Healthcare Services IndustryIt includes various establishments ingesting in various type of services bid testing, outsourcing, compliance, chemical analysis, transcription, quality assurance, validation, and other types of services. The global market share of biotechnology services industry is worth US $ 50 billion, which is soon expected to witness a hike in coming years. Presently, pharmaceutical testing service industry values to US $ 5.9 billion, which is predicted to reach US $ 9.5 billion by the end of 2009 . Microbiological testing service industry accounts for US $ 2.4 billion. Globally, the medical outsourcing services industry accounts for approximately US $ 200 billion.Biotechnology IndustryIt is one of the most research-intensive segments of the global healthcare industry. Biotechnology industry is composed of many establishments, which are engaged in making wide variety of biotech products. Biotechnology is primarily being utilise by the pharmaceutical industry but there are other industries analogous agriculture, mining, waste treatment industries as well, which are making continuous uptake of biotechnology. Biotechnology companies focus on developing methods or products used for preventing, diagnosing and treating dozens of life threatening and chronic diseases. The biotechnology industry has mushroomed since its inception and at symbolize it is equivalent to US $ 50.7 billion. China, USA, India, Australia, and France are the market leadership of biotech products in the w orld.Alternative Medication IndustryIt consists of various groups involved in the promotion of different forms of alternative medications and therapies like ayurveda, homeopathy, aromatherapy, massage therapy etc. The total market size of alternative medicine is valued at US $2.7 billion while global market for traditional therapies accounts for US $60 billion.Dietary Supplements IndustryAs per the Office of Dietary Supplements, consumers in the USA spent $20.3 billion on dietetical supplements in 2004. This comprises of vitamins, minerals, herbs, botanicals, amino acids, whole foods, nutraceuticals, etc, the USFDA regulates dietary supplements differently than the conventional foods and drug products. Regulated by the Dietary Supplement Health and Education Act of 1994 (DSHEA), the manufacturers are responsible for ensuring the safety of dietary supplements before they are marketed. The industry derives much of its demand from growing health awareness, ageing population, consumer spending, and nutrition trends. Bringing out sophisticated products, effective merchandising and competitive pricing determines the manufacturers profitability. Supplements are sold via supermarkets, drugstores, Internet, mail orders, health food stores, and by direct sellers.KEY GROWTH DRIVERS OF THIS INDUSTRY there are various factors, which govern the growth of the medical and healthcare industry. Some of the key factors areContinuous investments in research development has resulted in increase productivity and better quality of drugs, medicines, medical instruments, hospital equipment, and other medical supplies used in medical industry.Provides employment to large chunk of human population. United States of America has the largest workforce i.e. one in every 11 US residents employed in the health care business.Increased costs in the medical treatment in the developed nations adopt driven patients to migrate to Asian countries.Rise in ailments among the ageing population espec ially in developed nations has conduct to the increase in demand of variety of drugs or medicines.Innovative techniques of drug discovery and drug development, new cures and treatments, gene testing for insurance, genetic predictions of disease and related to issue, human cloning and reproductive technologies are the other key drivers of the medical industry.FUTURE PERSPECTIVE OF THE INDUSTRYThe future perspective of medical industry seems to be immensely bright and encouraging for this industry in terms of the expected surge in global demand and upsurge in investments. Several trends such as globalization, continuous investments in research and development, newer techniques of drug development and discovery, product proliferation, mergers and acquisitions are the key drivers of this industry.Increasing corporatization of Private Healthcare in the backdrop of a growing and affluent middle class is an emerging trend that has been pushing the growth of this industry. Health Insuran ce and Medical Tourism are the other solid trends, which are governing the global healthcare and medical industry. Most of the nations are now emphasizing on the accreditation of medical professionals so as to ensure genuineness of the services provided by them. Robust advancement in the field of information technology will allow critical medical data to be tasteful and transferred quickly over larger distances, thereby saving time of both the patients and physicians in the speeding delivery of treatment.THE INDIAN HEALTHCARE MARKETIndia Spends US $ 22.7 one thousand million On HealthcareHEALTHCARE MARKET (2005 VS 2025)Healthcare is the third largest growth segment in IndiaTHE CURRENT STATUS OF HEALTHCAREOut of pocket semi-urban and campestral expenses higher than UrbanDRIVERS OF GROWTHIncreasing health awareness, Increasing spends on healthHealth Insurance penetrationIncreasing disease burden modus vivendi diseasesAwareness of healthcare and preventive careEmployer provided h ealthcareCommunity based health plansINDIA PREFERS PRIVATE PROVIDERSPrivate expenditure as % of total expenditure on health 82.7 (2004)MAJOR PLAYERSHealthcare services is highly unorganised segment in IndiaABOUT HIMALAYAThe Himalaya Drug company was founded in 1930 by Mr. M. Manal with a eliminate vision to bring Ayurveda to federation in a contemporary form and to unravel the mystery behind the 5000 year old system of medicine. The Himalaya Drug Company is a leader in the Indian phyto-pharmaceutical (Ayurvedic) products ever since its founder M Manal, while visiting Burma in 1930, discovered how elephants were pacified and developed the worlds first anti-hypertensive drug, Serpina.It offers a wide range of pharmaceutical, personalized care, consumer and animal health products. Over 300,000 doctors around the globe have endorsed Himalayas products and consumers in over 70 countries rely on Himalaya for their health and personal care needs.The company has pioneered the use of mo dern apprehension to rediscover and validate the secrets of Ayurveda, the centuries-old Indian system of medicine. It employs cutting edge-technology to create pharmaceutical-grade ayurvedic products. Himalaya is dedicated to providing the highest quality and consistency in herbal care products and the company was also awarded the ISO 9001-2000 certification in 2003.Himalaya has always focused on developing safe, natural and innovative remedies that will help good deal live safe and healthier lives. Himalayas history is one of innovation by dint of research. The company believes that ideal healthcare system lies in the synergy in amid ayurveda and modern science. Himalayas constant endeavour is to create innovative products that satisfy the health and personal care requirements of contemporary living.VISIONTo bring Ayurveda the source of natural medication, to the society in a modern-day form and to untangle the mystery behind the 5000 year old system of medicine.MISSIONEstabl ish Himalaya as a science based, problem solving holistic brand with its source entrenched in the ancestry of nature and characterized by trust and healthy lives.Not just run across the local markets but also broaden their horizons across regions (worldwide) with a long term in-depth approach, by adopting the highest ethical standards at each step.Value, consider and utilize the inputs of all the stakeholders of the Himalaya family to garner the seed to shelf policy. The focus is on adopting eco friendly practices to support the environment that we live in.The employees are expected to support the Himalayan promise of especial(a) consumer expectations each and every time.PRODUCT SERVICESHimalayas products can be broadly classified into 3 main ranges viz.HealthcareHealth maintenance, eye care, sputter care, cardiac care, immune booster and cough controlPersonal CareHealth care, oral care, hair care, skin care and baby carezoology HealthDaily care products for sensitive cats and do gsEach of the products under the categories mentioned above are ayurvedic and have no side effects after use.Constant innovation has been the mantra of the management at Himalaya. Himalaya has had some exceptional innovative products in its product offerings that has helped it grow in stature. Some of the most successful innovations that have helped Himalaya become the leaders in Herbal Healthcare are as followsSerpina Derived from the plant serpentina. It was a natural tranquiliser with anti-hypersensitive properties. Was the world first natural hypersensitive medicine launched in 1930.Liv. 52 An apt example of innovation at Himalaya. The RD department was given the job to come up with a natural remedy that improved liver suffice as that was the main concern of people then in 1950. The team came up with a natural medicine that became the hallmark of innovation. Today, 1 billion tablets and 13 million syrup bottles of Liv. 52 are sold annually across the globe.Bonnisan A sweet t asting natural paediatric digestive tonic introduced in 1972. Soon after launch it became the leading brand in its category and today is Indias number 1 paediatric digestive product. On further research in Malaysia, Bonnisan also helped cure the long standing asthama problems in several preteens.Reosto A unique herbomineral preparation that slows bone loss and strengthens bone. The plant hormones that are present present in Resto influences the bone formation and also minimizes the risk of fracture cased by osteoporosis.Menosan It is an ideal alternative to Hormone Replacement Therapy. Menosan helps women during the menopausal and put forward menopausal stages. The plant derived hormones i.e. phytoestrogens are completely risk free and help women cope with the menopausal discomforts and mood swings.PureHands A herbal sanitizer that kills 99.9% of the germs and prevents infection. The germicidal action on Neem, freshness of lemon and softening action of hrivera has helped this pr oduct gain acceptance in the market.Himplasia A product that was launched in 2002 to help aged men deal with the prostrate problems. This is a natural product with no side effects and men could start taking this medicine early and hence restrict the growth of the prostrate.Hair Loss Cream This product helps reduce hair loss, stimulate hair growth, increase hair thickness and improve tensile strength of hair. The standard use of this product lead to a 20% reduction in hair loss in just 2 weeks.In their effort to do something good for the society, Himalaya has also forayed into many community services and corporate citizenship programs, which are a part of their corporate social responsibility. This has been broadly classified into Health, Education, Community and Environment. Himalaya has unceasingly been investing in Training, Education and community welfare projects. They have taken the global cultivation practices, contract cultivation techniques and rain water harvesting tech niques to the farmers. Partnerships with companies like Shristhi Special Academy (NGO) and IDEI has helped them walk an extra mile towards community services.GLOBAL PRESENCEHimalaya has grown from being an Indian Ayrvedic brand to a global sham with its products being well accepted in more than 70 countries. It has a sound base in USA, Middle East, Europe and Asia and has been diversifying its base rapidly.Himalaya went onto instituting a global company in the name of Himalaya Global Holdings Ltd. which is a parent company of the Himalaya Drug Company worldwide.The company has its offices strategically located in 7 regions through which they reach across to 71 countries. One of the offices in Bangalore (India) extensively looks into the pharmaceutical operations for India, Russia and Asia Pacific while another office in Bangalore looks into only the consumer products.They have their other offices inEurope Latvia, Middle East Dubai which also caters to the federation African regi onU.S.A. Texas Houston which caters to USA, Canada, Mexico, South America and the CaribbeanSingapore This office caters to East Asia and South PacificJohannesburg This office caters predominantly to South AfricaHIMALAYA NEW INITIATIVESHimalaya has come up with State of the art Retail Outlets that cater to only Himalaya Products. This is a strategy follow by Himalaya to entice customers to buy more Himalaya products. This chain of exclusive Himalaya stores is a retail strategy adopted by the company to increase the accessibility, visibility and evoke the consumer shopping experience. In the fiscal year 2006, Himalaya has 92 exclusive retail stores and the number has been increasing ever since.These retail stores also act as authoritative information centers where the customer queries are answered by trained managers. Also, these outlets are electronically linked to a Customer Relationship Management (CRM) Cell, which is assisted by a team of medical doctors who reply to spec ific customer health queries.Customer Interaction Management Himalaya outsourced the entire integration project to a company called Talisman. CIM has helped Himalaya respond to the queries from the customers, doctors and distributors. The main advantage of outsourcing CIM was that they got the module up and running in 2 weeks. Hence, all the queries were catered to and the expertise of Talisman helped them build and strong and fool proof CIM. Also, the work load has been reduced as the primary scanning is done by customer service representatives of Talisman and then the calls / emails are forwarded to the in-house people.