Project Report on Himalaya Products

Project Report on Himalaya ProductsINDUSTRY SNAPSHOTThe orbiculate wellness check manufacture is iodin of the initiations fastest growing industries, absorbing over 10% of gross domestic product of most developed nations. It constitutes of liberal serve offered by respective(a) hospitals, physicians, nursing homes, diagnostic test groundoratories, pharmacies and ably back up by medicates, pharmaceuticals, chemicals, medical exam equipment, manufacturers and suppliers.The medical and wellness cargon labor provides marvelous workout opportunities to choose from. Apart from using the services of medical professionals, this industry also utilizes the expert services of public policy workers, medical writers, clinical question lab workers, IT professionals, sales/ selling professionals and health insurance providers. size OF THE INDUSTRYThe United States of America has iodin of the largest medical and healthc ar industries in the world, followed by Switzerland and Germ any. The USAs medical industry comprises of more than 750,000 physicians and 5,200 hospitals. USA witnesses round 3.8 one million million inpatient visits and 20 million extinctpatients visit on a periodical basis. Furthermore, the United States of America has the largest workforce i.e. one in every 11 US re perspectivents employed in the health allot business.The Global prescription drug drug market was $550 million in the year 2006. Also, the total health c atomic number 18 expenditures across the world were $4.5 trillion last year. Of which, US solo account for $ 2.2 trillion, $ 2 trillion in OECD countries and remaining $ 0.3 in an separate(prenominal) countries of the world.MAJOR SEGMENTS OF THE INDUSTRYThe planetary medical industry is highly fragmented, comprising of sundry(a) ancillary sectors namely medical equipment and supplies, pharmaceutical, health care services, ergonomics, and alternative medicines sectors. checkup Equipment and SuppliesIt consists of mixed establishments or units busy 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. Glob each(prenominal)y, the market share of pharmaceutical industry is US $340 billion. The globular pharmaceutical sales account for US$ 602 billion, with an annual maturation assess of 7%. healthcare Services IndustryIt includes various establishments spreading in different type of services like testing, outsourcing, compliance, chemical analysis, transcription, quality assurance, validation, and other types of services. The orbicular market share of biotechnology services industry is worthy US $ 50 billion, which is soon expected to witness a advance in coming years. Presently, pharmaceutical testing service indust ry value 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 orbicular healthcare industry. Biotechnology industry is composed of many establishments, which are engaged in do wide variety of biotech products. Biotechnology is primarily world used by the pharmaceutical industry but there are other industries like agriculture, mining, waste treatment industries as well, which are making continuous use of biotechnology. Biotechnology companies focus on developing methods or products used for preventing, diagnosing and treating dozens of life threatening and chronic distempers. The biotechnology industry has mushroomed since its inception and at present it is equivalent to US $ 50.7 billion. China, USA, Ind ia, Australia, and France are the market attracters of biotech products in the world.Alternative Medication IndustryIt consists of various groups involved in the promotion of different forms of alternative medications and therapies like ayurveda, homeopathy, aromatherapy, work therapy etc. The total market size of alternative medicine is set at US $2.7 billion while global market for conventional therapies accounts for US $60 billion. dietetic Supplements IndustryAs per the Office of Dietary Supplements, consumers in the USA spent $20.3 billion on dietary 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. adjust by the Dietary Supplement health and culture Act of 1994 (DSHEA), the manufacturers are responsible for ensuring the safety of dietary supplements before they are marketed. The industry derives a great deal of its demand from growing health awareness, ageing population, consumer spending, and nutrition trends. Bringing out innovative products, effective merchandising and competitive pricing de considerationines the manufacturers profitability. Supplements are change via supermarkets, drugstores, Internet, mail orders, health food stores, and by direct sellers.KEY harvest-home DRIVERS OF THIS INDUSTRYThere are various factors, which govern the growth of the medical and healthcare industry. around of the key factors areContinuous investments in research development has resulted in ontogenesisd 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 nat ions earn driven patients to migrate to Asian countries.Rise in ailments among the ageing population especially in developed nations has led to the increase in demand of variety of drugs or medicines.Innovative techniques of drug stripping and drug development, new cures and treatments, gene testing for insurance, genetic predictions of disease and tie in 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 legal injury 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.increase corporatization of Private Healthcare in the backdrop of a growing and affl uent middle discipline is an emerging trend that has been pushing the growth of this industry. Health Insurance and Medical Tourism are the other significant 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 legitimacy of the services provided by them. Robust advancement in the field of culture technology depart allow critical medical data to be processed and transferred right away 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 meg On HealthcareHEALTHCARE MARKET (2005 VS 2025)Healthcare is the third largest growth segment in IndiaTHE CURRENT STATUS OF HEALTHCAREOut of grievous bodily harm semi-urban and rural expenses higher than UrbanDRIVERS OF GROWTHIncreasing health awareness, Increasing spends on healthHealth Insurance penetrationIn creasing disease burden lifestyle diseasesAwareness of healthcare and preventive careEmployer provided healthcareCommunity 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 confederacy was founded in 1930 by Mr. M. Manal with a clear vision to bring Ayurveda to friendship in a contemporary form and to unravel the mystery down the 5000 year old establishment of medicine. The Himalaya Drug Company is a leader in the Indian phyto-pharmaceutical (Ayurvedic) products ever since its founder M Manal, while see Burma in 1930, discovered how elephants were pacified and developed the worlds first anti-hypertensive drug, Serpina.It offers a wide range of a government agency of pharmaceutical, in-person care, consumer and animal health products. Over 300,000 doctors around the globe have endorsed Himalayas products an d consumers in over 70 countries rely on Himalaya for their health and personal care needs.The society has pioneered the use of modern science to rediscover and sustain the secrets of Ayurveda, the centuries-old Indian system of medicine. It employs cutting edge-technology to be get in pharmaceutical-grade ayurvedic products. Himalaya is dedicated to providing the highest quality and trunk 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 provide help people live safe and healthier lives. Himalayas history is one of innovation through research. The company believes that holy person healthcare system lies in the synergy in between ayurveda and modern science. Himalayas constant endeavour is to create innovative products that satisfy the health and personal care requirements of contemporary living. fancyTo bring Ayurveda the source of natural medic ation, to the society in a modern form and to untangle the mystery behind the 5000 year old system of medicine.MISSIONEstablish Himalaya as a science based, problem work out holistic marker with its source entrenched in the ancestry of constitution and characterized by trust and healthy lives.Not just consider the local markets but also broaden their horizons across regions (worldwide) with a presbyopic 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 sponsor the environment that we live in.The employees are expected to support the Himalayan promise of exceeding consumer expectations each and every time.PRODUCT SERVICESHimalayas products can be broadly classified into 3 main ranges viz.HealthcareHealth maintenance, eye care, skin care, cardiac care, immune booster and cough commandPersonal CareHealth care, oral care, fuzz care, skin care and baby careAnimal HealthDaily care products for excellent cats and dogsEach of the products under the categories mentioned above are ayurvedic and have no side do after use.Constant innovation has been the mantra of the management at Himalaya. Himalaya has had more or less 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 embed serpentina. It was a natural tranquiliser with anti-hypersensitive properties. Was the world first natural hypersensitive medicine launched in 1930.Liv. 52 An expert example of innovation at Himalaya. The RD department was given the job to come up with a natural remedy that improved liver function as that was the main concern of people then in 1950. The police squad came up with a natural medicine t hat became the hallmark of innovation. Today, 1 billion tablets and 13 million syrup bottles of Liv. 52 are sold each year across the globe.Bonnisan A sweet tasting 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 prepare loss and strengthens deck out. 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 post 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 san itizer that kills 99.9% of the germs and prevents infection. The germicidal action on Neem, luminescence of lemon and softening action of hrivera has helped this product 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 restrain the growth of the prostrate.Hair Loss Cream This product helps reduce hair loss, stimulate hair growth, increase hair thickness and improve flexible strength of hair. The regular 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 companionship services and corporate citizenship programs, which are a part of their corporate kindly responsibility. This has been broadly classified into Health, Education, Community and Environment. Himalaya has constantly been investi ng in Training, Education and community welfare projects. They have taken the global cultivation practices, deoxidise cultivation techniques and rain water harvesting techniques to the farmers. Partnerships with companies like Shristhi Special honorary society (NGO) and IDEI has helped them walk an extra mile towards community services.GLOBAL PRESENCEHimalaya has self-aggrandising from universe an Indian Ayrvedic brand to a global player with its products being well accepted in more than 70 countries. It has a cash in ones chips base in USA, Middle due 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 I ndia, 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 furnishs to the southeastward African regionU.S.A. Texas Houston which caters to USA, Canada, Mexico, South America and the Caribbeancapital of Singapore 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 adoptive by Himalaya to entice customers to barter for more Himalaya products. This chain of exclusive Himalaya stores is a retail strategy adopted by the company to increase the accessibility, visibility and enhance the consumer shopping experience. In the fiscal year 2006, Himalaya has 92 exclusive retail stores and the number has been increase ever since.These retail stores also act as crucial inform ation centers where the customer queries are answered by trained managers. Also, these outlets are electronically conjugated to a customer Relationship Management (CRM) Cell, which is assisted by a team of medical doctors who respond to specific 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 see proof CIM. Also, the work load has been reduced as the primary scan is done by customer service representatives of Talisman and then the calls / emails are forwarded to the in-house people.