Tokyo-based Fujifilm Corporation, a maker of photography devices and medical equipment, is betting high on India to grow healthcare, a space it entered over a decade ago after its traditional, photo films, business went out of the market.
The company is planning to double its revenue from healthcare business to $10 billion by 2025. In March 2020, Fujifilm as whole reported total revenue of $23 billion and health alone accounted for $5 billion.
Masaharu Morita, global marketing and new business manager, modality solutions, medical division, Fujifilm Corporation, told The Hindu that: “We are looking at growth from multiple channels and these include organic growth through expansions and business scale-ups and also acquisitions. Growth is expected to come from Hitachi as well as the acquisition is now completed.’’
Fujifilm acquired Hitachi Diagnostic Imaging Business for $1.6 billion in December 2019.
According to him, Japan has a strong focus on preventive healthcare, early detection and screening is part of the country’s culture and that’s why the Japanese have a better life expectancy compared to that of others.
“We are trying to instil a culture of periodic health screening across many geographies and we are starting with India,” he added.
As an initial step towards its India foray in health screening, Fujifilm has set up, NURA, its first health-screening centre in the country in Bengaluru in collaboration with Dr Kutty’s Healthcare.
The centre will screen for early detection of breast and oral cancers, as well as for early signs of pulmonary disease and heart attacks. All equipment used here will emit only ultra-low doses of radiation and images will be made brighter and clear using AI, claimed the company.
Koji Wada, general manager, Fujifilm India Medical Division, said India contributed $150 million to the company’s global healthcare revenue last year, growing at a CAGR of 10%.
“India is a critical growth market for our medical imaging equipment, machines and technology. Some 100 such facilities are being planned across the country, in metros and in small cities,” he added.