Manish Singh

C_24
Market Size
Global Market Size

Pulse Oximetry Market was valued at USD 1.38 Billion in 2018 and is projected to reach USD
2.23 Billion by 2026, growing at a CAGR of 7.1% from 2019 to 2026.

As home care captures the imagination of people, mainly for convenience and cost associated
reasons, particularly in regions where reimbursement policies are weak, contributes heavily to
the demand for the global pulse oximeter market. It is also quite pertinent to note here demand
for remote monitoring is seeing a rapid rise as continuous monitoring is an expensive task,
propelling growth in the pulse oximeter market as spot-checking via fingertip variants or
handheld oximeters can reduce these costs. For instance, this can cut down on readmission
costs, which are quite commonly incurred by patients with COPD. Other critical factors include
the rise in the geriatric population and the increase in the incidence of chronic diseases.

North America is set to dominate the market landscape, owing to a high geriatric population
better healthcare system, and the presence of an active American Academy of Paediatrics,
which endorses the product in a big way. All this together will propel significant growth in the
global pulse oximetry market.

Indian Market Size

India pulse oximeter market is expected to grow at an impressive rate during the forecast
period. India pulse oximeter is driven by the sudden outbreak and spread of pandemic
COVID-19 in the country. The lack of hospital beds for COVID-19 patients in most part of
the country has led to the widespread adoption of home quarantine options by different
governments across the country, especially the Delhi government. The Delhi government
has advised its population with mild symptoms to stay at home, isolate themselves and get
them treated at their home only. The government has also started providing its people with
 pulse oximeters, which they can use to monitor their oxygen levels at home only. This in
turn is expected to positively influence the market growth through FY2026.

From 2016-2019, Hospitals and other healthcare facilities segment dominated the market and held
a high revenue share owing to an increase in the number of surgeries and emergency room visits.
The market size of Oximeter was limited to healthcare sector, but after the advent of covid-19,
there is drastically change in demand of pulse oximeter. The Market size in 2016 was 217 Crores
and in 2021 it has been increased to approx. 690 Crores. It is estimated that by 2026, the market
size will be approx. 1760 crores.

Manish Singh
C_24

Pawan Singh Bhakuni

C_44
TARGET CUSTOMERS
Medical Device Marketing: Three Key Principles You Can’t Afford to Miss

You can’t market medical devices the same way you’d market a t-shirt or restaurant.

While medical device marketing shares plenty of fundamentals with marketing in other
industries, there are important differences.
You have to find a way to get the attention of smart, technical buyers. You have to find a way
to convince them that your device is a better fit than all the others – even if it’s expensive and
complex.

This takes more than just a great product. It takes communicating that product’s potential in a
compelling way.

Market Analysis Summary

The two key factors influencing discussion of BPL Medical Technologies ’s market are
the medical procedures and product usage statistics and the customer or chain of
distribution considerations.

In both cases the trends are upwards in the favour of BPL medical technologies. Banding is
growing rapidly replacing sclerotherapy and managed care stresses lowest cost of total
treatment. The following sections explain how both offer great market potential to BPL
medical technologies.

Market Segmentation
The potential customers of BPL medical technologies are both domestic and foreign.
Domestic customers include managed care groups, hospital buying groups, physician groups,
independent physicians, and other (catalogues) and medical supply houses. The market is
dominated by managed care groups. More than 50% of all purchases of medical devices are
made by these groups and that is forecast to reach 75% by the year 2000.

The foreign market includes many of the above segments but also includes key distributors.
For example, only four distributors are required to penetrate the European, Middle Eastern,
African, Central and South American and Japanese markets. These distributors have already
been identified.
Medical device buyers are usually hospitals,
scientists, and other healthcare professionals. That
means they tend to be intelligent, well-educated, and
analytical. This makes them likely to respond well
to quantifiable reasons to buy, like data. Most medical
device marketers recognize this. They understand that
while the end-user of the device—the patient—might
not care about an obscure case study, they still need to
appease the healthcare professionalswho make the
ultimate buying decisions.

Pawan Singh Bhakuni

C_44

Point combined by everyone

Financial Goals
The firm has major financial goals following its first year of operations.

Funding BPL Medical Technologies has raised a total of — in funding over 2 rounds. Their
latest funding was raised on Jan 1, 2019, from a Venture - Series Unknown round. BPL
Medical Technologies is funded by 2 investors. Jupiter Capital and Goldman Sachs are the
most recent investors that the company has.

Backed by these major investors, by 2022, the company is targeting cross Rs 1,000 core
revenue, according to the MD and CEO, Sunil Khurana. For this, they will have to show a
cumulative growth of 20% and a small acquisition as well. Their partners are keen to invest
more and go for some acquisitions. In 2015, BPL Medical Technologies did its first overseas
acquisition when it bought UK-based
Pennon, a leading manufacturer of
anaesthesia systems and vaporisers and
today, it has its reach in various other
countries, thereby, aiming to expand its
revenue, especially in global markets at
great levels. They have also enhanced
their product basket and their aim is to
dig deeper into various segments, thereby
capturing a huge market share and
expanding revenue shares to a great
extent.
 Jay Shah
C_13
KEY FEATURES OF BPL TECHNOLOGIES PULSE
OXIMETER

 Highly Accurate: Measures the oxygen concentration in the blood with a

minimum deviation of +/-2% and measures the pulse rate with a minimum
deviation of +/-2 bpm

 Colour OLED Display: Four directional colour OLED display provides clear view
of SpO2,PR and Perfusion Index

 Alarm Indication: Visual and audible alarm indication alerts user in case of hi/low
measurement reading

 Clinical alert function: visual and audible alarm indication Alerts user in case of
hi/low measurement readings

 Compact Design: Light and compact, suitable for wide range of finger size

 Low Power Consumption: Equipped with two AAA batteries, the oximeter
automatically powers off when not in use and delivers up to 20 continuous hours of
battery life.
Dimensions
Width x Height x Depth  10 x 5 x 5 mm
Weight  0.4 g

Modifications to the current pulse Oximeter:

Adding profiles: Profiles will help them to keep a regular check of their oxygen, especially
for the elders or those facing any respiratory diseases who need to keep a regular check on
their oxygen level.
Also, this helps during the Covid-19 times as one can keep a track on their oxygen level.
The pulse oximeter can have a USB port so that it can be attached to the computer and the
data can be transferred as an excel file.
This will also help the doctor to examine the patient better.
Jay Shah
C_13
 Jitesh Kumar Singh
C_14

DISTRIBUTION STRATEGY OF BPL MEDICAL

TECHNOLOGIES OXIMETER
Distribution Strategy: Distribution Strategy is a strategy or a plan to make a product or a
service available to the target customers through its supply chain. The distribution strategy
designs the entire approach for the availability of the offering starting taking inputs from
what the company communicated in marketing campaigns to what target audience is to be
served. A company can decide whether it wants to serve the product and service through its
channels (Direct) or partner with other companies to use their distribution channels to do the
same (Indirect).

DISTRIBUTION STRATEGY ADOPTED BY BPL:

Direct Channels: BPL has adopted Online/Cyber Marketing and the oximeter is available in
several online retail websites like Flipkart, Amazon, India Mart, BPL technologies (official
website). The company is providing a 7 days replacement offer also and the product is
usually delivered within 2 weeks.
Benefits of Online/Cyber Marketing-
1. Global Reach
2. Specific customer targeting
3. Low entry cost
4. Flexibility
5. Image technology
6. Competitive Advantage
7. Niche Product
8. Measurable RoI

Indirect Channels: BPL has tie-ups with

various chemist shops in most of the parts
of India and the product availability is high
but at times it’s unavailable too due to high demand (Information collected from nearest
chemist shop).
Benefits of Retail
marketing-
1. Helps to gain a
competitive
advantage.
2. Increased brand
awareness
3. Helps in attracting
new customers.
4. Efficiently utilize
marketing budget

Conclusion- Due to its precise and effective distribution strategy, BPL oximeters
holds a good position in the market and is one of the most sought products in that
category.

Jitesh Kumar Singh

C_14

Point combined by everyone

THE PROMOTIONAL PLAN

 Developing and executing the strategy to grow business and increase brand visibility
worldwide.
 Initiating innovation by assessing client requirements to help shape the business
development roadmap.
 Managing all aspect of new engagements (resourcing, commercial negotiations,
services, implementation, Vendor Management)
 Drive change while responding appropriately to resistance to achieve short-term and
long-term goals.
 Building client loyalty and creating `added value´ engagements through building
client loyalty and creating `added value´ engagements through strategically targeted
business development and account retention initiatives.
 Translation, Localization and Localization testing for products and applications.
 Voice Transcription Multilingual voice over recording, subtitling and integration e-
Book Development and e-Publishing Service Digitization and Desktop Publishing
(DTP) E-Learning Service (Flash / Articulate) Interpretation of Indian and foreign
languages Linguistic staffing.
 Creative services (A to Z Services) Branding and Event management.
 Stall Designing and Fabrication online and On field, not to forget the various social
media services that we have.
 REFERENCES

1. https://www.owler.com/company/bplmedicaltechnologies
2. https://bel-india.com/best-pulse-oximeters-in-india/
3. https://www.crunchbase.com/organization/bpl-medical-
technologies/company_financials
4. https://www.business-standard.com/article/companies/bpl-medical-tech-to-
scale-up-global-presence-aims-to-break-even-in-fy19-118123100930_1.html
5. https://www.bplmedicaltechnologies.com/product-details/respiratory-
solutions/pulse-oximeters-46/bpl-smart-oxy/
6. https://www.techsciresearch.com/report/india-pulse-oximeter-
market/4981.html
7. https://www.zaubacorp.com/company/BPL-Medical-Technologies-Private-
Limited/U33110KA2012PTC067282
8. https://www.verifiedmarketresearch.com/product/pulse-oximetry-market/
9. https://www.bplmedicaltechnologies.com/
10. https://www.moneycontrol.com/news/business/announcements/-1600985.html
11. https://www.investopedia.com/ask/answers/052115/what-difference-between-
direct-and-indirect-distribution-channel.asp
12. https://www.business-standard.com/article/companies/bpl-medical-tech-to-
scale-up-global-presence-aims-to-break-even-in-fy19-118123100930_1.html
13. https://www.bplmedicaltechnologies.com/product-details/pulse-oximeters-
46/pulse-oxy-02/
14. https://www.amazon.in/BPL-Medical-Technologies-Finger-
Oximeter/dp/B07G45MZM7