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Post-Torrent deal, a much leaner and better leveraged Elder Pharmaceuticals Ltd has set in motion a process to expand its footprint in the Rs 4,000-crore dermatology segment in a big way.
The company already had some presence in skin care category but with a slew of new launches it plans to grab a market share of 4-5% in each sub-category, Elder Pharma said in a statement here.
Skin care has always been a segment characterised by global MNCs like Unilever, P&G, Revlon, Lakme, Amway, Olay, Artistry, Garnier and L'Oreal as well as local players and thousands of small units in unorganised category, each vying for a dominant presence through adoption of a combination of marketing strategies and product differentiation.
The growth of 20% in the skin care segment comes not only from urban areas but also semi-urban and rural pockets where a wide distribution network and judicious pricing policy are very important.
Elder has introduced 'Eslite Plus', a hydroquinone and combination cream for skin lightening; 'Ultraguard', a sunscreen containing American & European FDA standard ingredients; 'B-New', an anti-aging cream; 'Camoflage', a stretch-marks & pregnancy line remover and 'Skin O2', a multi vitamin product in soft gelatin capsules for skin nourishment.
"Launched through the ethical route, the initial response to our new products has been encouraging and we expect these brands to contribute a combined turnover of about Rs 115-125 crore by FY16.
"Also on anvil are products for lip care, hair loss, under-eye gel, face cleansers, moisturisers etc. Derma products are in demand not only for therapeutic requirements but also lifestyle reasons, enabling the skin care industry to evolve to the age of cosmetic and anti-aging treatments," Elder Pharma Managing Director Alok Saxena said.
With a rise in disposable incomes and subsequent increase in lifestyle diseases, the craze for cosmetic surgeries is driving more young people to doctors and dermatologists. The volume of cosmetic procedures is expected to cross 2 million for the year 2016, Saxena said.
Due to pollution, ultraviolet light and global warming, photosensitive skin disorders like tanning, pigment darkening, sunburn, skin cancers and infectious diseases are also increasing at a faster pace, he added.
