We believe digital spends and digital distribution is going to be a key growth driver for us going forward in 2021
Padma Shri Dr. J Hareendran Nair, Founder and MD, Pankaja kasthuri Herbals India Pvt. Ltd.
In the year 2021, Ayurveda is expected to emerge as a driving force and front runner in India’s pharmaceutical and healthcare industry. With immunity-building becoming a priority for consumers globally due to the pandemic, we are witnessing a significant growth in consumer demand for Ayurvedic and herbal products.
The Indian market has traditionally been a quick fix, short-term curative market. We are expecting this to change with increase in awareness among masses about immunity-boosting products and supplements, which will eventually benefit traditional medicine and the Ayurveda sector. We are going to focus on this segment by introducing new and innovative solutions to a variety of medical conditions that have been fairly ignored the past, due to lack of demand and awareness in the pre-COVID era.
Optimising and consolidating existing markets would be another key focus area for us at PKHIL to not only maintain growth but to also tap newer consumer segments. For a company of our stature, which is a well-established Ayurvedic and herbal drug company with an existing portfolio of more than 400 products and around 120 new products in the R&D phase, launching these new products in established markets will be an effective bet. Newer markets would be far more sceptical in accepting a new product/brand during these testing times.
Furthermore, in 2020 we have witnessed exponential growth in the consumption of digital content across the country. With a never seen before lockdown, people have been confined to their homes for most of the year and thus have been spending majority of their time consuming digital content. We are in the process of reshuffling our marketing spends and directing resources towards digital platforms. We believe digital spends and digital distribution is going to be a key growth driver for us going forward in 2021.
Pankaja kasthuri Herbals India Pvt. Ltd. has championed itself as a research based organisation. Having advocated for the concept of modern-backed Ayurveda, we have ensured that all the necessary research and development procedures are followed to introduce quality products that meet global standards. We aim to continue on this path of developing scientifically-backed Ayurveda products to ensure efficacy and offer the best to our customers.
The addition of products such as ZingiVir-H, which has been repurposed as a cure for COVID-19, will enhance our position as scientifically-backed modern Ayurveda Company. We are currently pursuing R&D work for a series Ayurvedic formulation. We aim to launch these products post-approval from the authorities in 2021.