FMHG market in India: A Close View
With fast changing consumer beliefs, values and aspirations the marketing executives perhaps have a difficult task on their hands.
Professionals have gone to the extent of penetrating the consumer mind with technologies like 'Neuro Marketing' to know what would really click with their identified consumers. The change is not only rapid but it is also of high magnitude affecting the multiple segments including health.
However, thanks to this high involvement of consumers, Fast Moving Health Goods (FMHG) is now a burgeoning market in India. More and more businesses from pharma, OTC, nutraceuticals and dietary supplements, functional foods and Fast Moving Consumer Goods (FMCG) are entering into this high growth segment. Indian market is largely a prescription oriented market. While Rx to OTC switches are implemented more frequently by the pharma majors, many other pharmaceutical and nutraceutical companies who were trying to promote their products through the doctor are now adopting a different route, the direct route to the identified end user.
FMHG market represents products for health that are directly promoted to end users. For eg. Saffola Gold a FMCG product is more like a FMHG product the way it is promoted and used; health drinks (like Complan and Horlicks) are categorically FMHG products along with other health beverages such as fruit, energy and protein drinks. Equal, Sugarfree, Natura and other low calorie sweeteners, Benadryl and Glycodin the cough syrups, Tums and Gelusil the antacids, Vicks, Coldarin, Anacin, Listerine, Waterbury's Compound, Woodward's gripe water, and Iodex are some of the other FMHG products. Rejuvenators, weight loss products, dietary supplements, honey, joint pain relievers and even pregnancy test kits and emergency contraceptive pills have found their way in this segment.
FMHG segment—Components
1. Over-the-counter (OTC) drugs are medicines that may be sold without a prescription eg: Crocin, Disprin, D Cold, Benadryl,...
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