Nikon India, which entered into the healthcare sector in the country last year with microscopes, expects a double-digit growth by 2024. The company is witnessing an uptick in demand for its microscopes from government institutions in healthcare and private labs.
Sajjan Kumar, Managing Director, Nikon India said, “The demand is shaping up and currently we are about 18-20 per cent in the healthcare segment wherein we offer a biological range of microscopes. There is scope for further development as this part of business happens with research institutes and clinical labs including IVF labs. A dedicated team is working on the expansion in Gurgaon, Bengaluru, and Mumbai.”
Nikon stated that the healthcare segment that is available across India presently contributes up to 6 per cent of the company’s turnover.
Uptake in sales
While the business was impacted during the Covid-19 pandemic, content creation and video consumption saw an increase. Nikon India also witnessed an increase in sales of its products.
“Vloggers are generally smart with smart devices but migrate to Nikon when they want to upgrade as it is easier to shoot, has content clarity, and smooth update facilities. Demand for products among professionals also spiked as video content has increased. Year-on-year sales of full-frame market growth are 40 per cent post-coronavirus. The high-end segment is witnessing continuous growth. Our flagship Z9 is well accepted by people creating videos,” said Kumar.
The company is anticipating a growth of 8 per cent above the Covid-19 levels in 2023.
“This year, we will be closing at a decent growth of 17 per cent from last year. We see 2023 as a year when business will remain normal. Over the last two years, the business has been impacted due to the pandemic but we are witnessing recovery,” added Kumar.