Eris Lifesciences aims to tap the underpenetrated Indian women's health market

Pharma firm Eris Lifesciences is setting sights on capturing the underpenetrated women’s health market in India. With a growing demand for specialised treatments related to gestational diabetes, polycystic ovary syndrome (PCOD), and in-vitro fertilisation (IVF), the company plans to consolidate and expand its women’s health portfolio, which is currently valued at approximately Rs 150 crore.  

By offering innovative treatment solutions and addressing the specific needs of women, the company aims to position itself as a key player in the segment, senior officials told Business Today. 

“The Indian market for women’s health treatments, particularly IVF hormones, is predicted to grow at an impressive rate of 16–17% per annum until the end of the decade. As of now, the market faces a shortage of players capable of meeting this surging demand, leaving ample room for growth and market penetration,” said Krishnakumar V, COO of Eris Lifesciences. 

The company said that it has been closely observing lifestyle-related trends such as gestational diabetes and late pregnancies, leading to a sharp spike in IVF treatments. "The women’s health segment is massively underpenetrated and offers significant growth opportunities. Recognising the potential of these emerging healthcare demands, we have been strategically building a robust woman’s health franchise," said Krishnakumar V. 

“Our focus has always been on chronic and lifestyle therapeutic areas, but women’s health, with its unique challenges and increasing demand, presents a compelling opportunity for us,” he said, adding that lifestyle-related factors have driven the need for specialised treatments, creating a room for growth and expansion in the women’s health market. 

The company also has ambitious plans for growth in the coming and current fiscal years across the segments it caters to. "In FY24, we expect to cross Rs 2,000 crore in turnover. We have been focused on chronic therapeutic areas like diabetes and cardiovascular disease. Along the way, we have added additional therapies, including dermatology, neuropsychiatry, and women’s health," said Krishnakumar V. 

The company’s expansion strategy includes a combination of organic growth and potential acquisitions in all its portfolios. Outside of diabetes and cardiology, dermatology emerges as one of the most important and attractive therapeutic areas for Eris.  

The company has already made a strong foray into the dermatology segment. In May 2022, Eris Lifesciences acquired Oaknet Healthcare, followed by Glenmark brands in January 2023, and then a clutch of brands from Dr. Reddy’s in March 2023.  

“The size of the dermatology therapy market is around Rs 12,500 crore, and it’s growing at a decent growth rate of about 19%. There are many interesting segments emerging, such as acne and hair care, in addition to the usual medical dermatology segments,” said Krishnakumar V.  

“Together, these three constitute our dermatology franchise. We have been interested in this franchise for a while as a chronic and lifestyle-focused company. With all these businesses put together in the current FY24, we should exceed Rs 400 crore,” he said.