The market for dermatological products will continue growing at a CAGR of 11.5 percent globally till 2030, according to a report published by Allied Market Research. Several factors have contributed to the growth of this sector. Technology has played a significant role. Innovation of advanced technologies to create accurate formulations is one of the primary reasons for growth not only in India but globally. There is also considerable awareness among end consumers as they are always up to date with the new formulations available for skin beautification and treatment. This is inspiring manufacturers in this domain to introduce new technologies available and use their domain expertise to create products that live up to the requirements of the market.
Shubhangi Kharat, Managing Director
However, most of the brands in the dermatological segment have been traditionally importing products from countries like Korea and China because advanced formulations were not present in India. Owing to this reason, the cost incurred by the companies was high. Samrvir Biotech observed this gap and started contract manufacturing of products by bringing in the latest technologies and formulations in the country. This has resulted in growing demand for its products as it is one of its kind firm trying to solve this crucial problem in the industry.
Samrvir Biotech is primarily engaged in contract manufacturing of private labels for dermaceutical and cosmeceutical products. It is associated with several such Indian brands that were dependent on imports for the formulations. In order to create new age products, Samrvir Biotech has started a dedicated R&D company named Innoscience Research that aims to study all the developments that are happening in the industry and create formulations that were not available in India earlier. “Our R&D Company is run by Shubhangi Kharat who has joined us after having 18+ years of experience in this domain. The company is primarily working in the dermatological segment and Samrvir Biotech is manufacturing its products only on the basis of research,” mentions Sumant Vir Kapoor, MD, Samrvir Biotech.
Carving a Niche
The innovation of stick formulations has worked as a game changer for the dermatological industry. The manufacturing of this formulation in order to create different kinds of skin treatment products was not available in India before Samrvir Biotech created a state of the art facility of stick manufacturing. The company has been able to create sunscreen in a stick successfully.
This is not only a revolutionary step towards dermatological treatment but also a new way to view the usage of the product. “The country has seen a 30 percent growth in the demand for sunscreen post Covid. For the past 10 years we have dedicated our expertise in developing a stick formulation for sunscreen. Stick formulations will have good market share by 2025,” states Subhangi Kharat, MD, Innoscience Research. Apart from sunscreen, the company also manufactures products for pigmentation, acne, hair fall, anti-aging and other skin problems. The company is not only associated with brands but are also in interactions with dermatology practitioners.
Only physicians working in this domain are able to provide accurate intelligence about the specific demands that are rising in the market. The company also gains insights on the skin problems that the current generation is experiencing. It is important for the company to live up to the requirements of the physicians because the products which get manufactured can only reach the consumer if they are prescribed. This is why Samrvir Biotech is dedicated in developing unique formulations for many pharmaceutical products.
Operational Excellence
Sumant Vir Kapoor and Subhangi Kharat bring about a combined professional experience of 55 years which has been very implemental for the growth of the company. Being experienced in ayurvedic, neutraceutical and pharmaceutical segment has further helped the company in understanding the specific requirements of the dermatological industry. The R&D setup has been built out of sheer experience of the management and it helps the company in two significant aspects which are product identification and product efficacy. Owing to enormous experience in the field, the company management is able to detect accurate formulations that can bring change and furthermore, it is also able to develop efficient products from those formulations. This holistic outlook towards growth gives Samrvir Biotech the added value that is not usually found in a manufacturer.
Another factor that has provided growth to the company is its adherence to international standards. It has always been the aim of the company to bring in the globally acknowledged technologies and formulations that can give a new face to the Indian dermatological industry. “Our company was started 13 years ago and I am having 27 years of global experience even before that. I have worked in many countries and that has given me a complete understanding about the product developments that are happening across the world. Subhangi and I have also been conducting research on the causes for dermatological problems in India one of which is pollution. We have also discovered that the age group for acne problems has also increased in the country. We dedicate our research to these segments because product demand is on the rise”, mentions Sumant Vir Kapoor.
Samrvir Biotech follows an open door policy for any prospective client that wants to work with them and get the products manufactured. “Clients can check our in-house facilities and the technology that we use for production. We are ready to go through any kind of audit or crosschecking before finally starting to manufacture for a client”, says Subhangi Kharat.
Sumant Vir Kapoor & Subhangi Kharat bring about a combined professional experience of 55 years which has been very implemental for the growth of the company
The Road Ahead
Sumant Vir Kapoor had a very humble motive of creating employment in his birthplace. The condition of the place, lifestyle of people and no electricity supply saddened him which is why he decided to set up his manufacturing unit there back in 2010. Since then, the company has broken many barriers in pharmaceutical, nutraceitical, cosmeceutical and dermatological segment. The MD has extended technocommercial experience in countries like US, Russia, Ukraine and Bulgaria markets which were completely integrated in the operations of the company. This has given Samrvir Biotech an added edge in the industry. “We have also been able to develop a team of professionals who are expert in their respective domains and have immensely helped the company grow. There has been a boost in the technology front as well”, says Sumant Vir Kapoor.
Looking ahead, Samrvir Biotech is planning on various developments that can take the company to the next level. It will be conducting research on various pharmaceutical segments and try to come up with new age products for the same. It also wants to delve deeper into the demacosmetic segment and make use of the advanced formulations using active pharmaceutical ingredients. “We will be opening another manufacturing unit shortly that will specifically cater to the pharmaceutical segment and start our operations Pan India. We want to become the fastest growing dermatological products manufacturer in the country”, concludes Subhangi Kharat.
