MUMBAI, October 23, 2017 /PRNewswire/ --
Company aims to achieve 5-fold revenue growth from international markets by 2022 with its highly differentiated and branded OTC portfolio, and 'on-ground' strategies for Developed and Emerging Markets.
Mumbai-based Fullife Healthcare Private Limited is working towards growing its international division through its 'Effervescent Technology', with the acquisition of Switzerland-based, Novelty Pharma. With a rich product portfolio and a resilient delivery format, Fullife is all set to expand its existing presence in the overseas market. The international business of Fullife currently comprises 50% of the company's FY2017, topline of Rs 35 crore. The revenue of the international business, which stood at Rs 15 crore in FY2017, is expected to double to more than Rs 35 crore by FY2018; and multiply 5-fold by FY2022.
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"We are set to reiterate our overseas presence by capitalising on our proprietary technology, unique portfolio of products and the effervescence delivery format. Our early success story so far is the testimony to our expected path ahead. Talking in terms of 5-year expectations, we forecast that we will comfortably cross Rs 150-175 crore in international sales by FY2022," said Mr. Varun Khanna, Director - Business Development at Fullife Healthcare.
Fullife is an 'innovative product' player in the Indian and global markets. It has a growing focus in the space of 'preventive healthcare and active living' segments, which are expected to be its major contributors over the next five years.
Globally, Fullife caters to the upper tier segments in the developed and high-margin markets of the US and Europe. Its OTC and prescription-based products have been readily accepted by consumers in over 22 markets across the world. Specific markets with a foothold include several countries in Europe and Asia, while it recently also made a foray into the North American markets.
A key reason for Fullife's projections is the sheer scale and tectonic shift taking place towards people wanting a more holistic approach to self-care. More consumers are gravitating towards products with embedded health benefits that are desirable, accessible, fun and tasty. Within the overall wellness space, the OTC wellness segment commands around 45% share. According to company estimates, the global health and wellness segment is currently estimated to be more than US$ 3.5 trillion, expanding by more than 15% per annum over the next five years. This has created a lucrative window of opportunity for specialist firms such as Fullife.
Yet, another aspect driving the company's global sales forecast is the upsurge in the preventive medicine segment, worth more than US$ 500 billion, according to the company. The awareness for preventive medicine has expanded significantly, motivated by the prospects of enhancing one's quality of life and minimising future healthcare spends from potential lifestyle-related illnesses. This segment is currently growing the fastest in markets that demand cutting-edge technologies. Within the preventive medicine segment, Vitamins and supplement sales are seen crossing US$ 13 billion in sales by 2018, a market that has more than doubled in size since 2008.
Fullife is making steady inroads into pharma-dominated areas globally through its unique business model. Besides its solid commitment to quality, Fullife also bridges the gap between the developed and emerging markets. "Through our unified and homogenous approach, we provide every global citizen same products of the same quality, leading to social inclusiveness," asserted Mr. Khanna.
The gradual tapering off in the generics market globally is also creating fresh growth opportunities. According to a recent report by Crisil, the annual sales growth of generic drugs in the US, the largest generics market globally, is seen slowing to 8%-9% over the next five years. And this is seen further decelerating owing to the lower value of patented drugs expiring. The value of drugs going off-patent, which peaked in 2012 at around US$ 48 billion, is predicted to have decelerated to US$ 20 billion in 2016.
Apart from its global play, Fullife also has a well thought out playbook for the Indian market. Through its large portfolio of products, it is catering to the rising demand-supply gap in the US$ 3 billion worth OTC wellness and consumer healthcare space in India. Company estimates suggest that the OTC market in India is growing at a CAGR of 12%-15%. Compared to the traditional pharmaceutical marketplace, this segment enjoys growth potential and higher margins.
Today, consumers in India are taking their personal healthcare to centre-stage, and are actively seeking wellness products that aid in enhancing health and combating the ill-effects of erratic lifestyles. Affluent consumers are also demanding quick access to latest and most advanced products available globally. For achieving good health, they are seeking holistic healthcare methods - wellness, fitness, healthy body and mind, supplements - as part of a single ecosystem. Through its portfolio of proprietary products, Fullife is playing a meaningful role in addressing the needs of changing consumer lifestyle, consumption trends and the growing demand for OTC wellness products.
About Fullife Healthcare Private Limited:
Mumbai-based Fullife Healthcare Private Limited is committed to revolutionise health management through trending innovation, global alliances and an asset-light, smart-manufacturing business model. The company brings a fresh perspective to healthcare management, in which 'Prevention is The New Cure'. Fullife's growing portfolio of clinically approved, branded, pharmaceutical, Nutraceutical and Cosmeceutical OTC products - are available in 22 countries across the globe, including India. Fullife's flagship brand 'FAST&UP' has gained wide acceptance by the rapidly growing up-market consumer segment, that comprises discerning users who believe in an Active Living lifestyle.
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