Strategic Analysis of Indian Nutraceutical Regulatory Scenario through Market Research

Pise, Ajay and Pise, Shilpa and Sreedhar, D and Janodia, Manthan D and Ligade, Virendra S and Udupa, N (2012) Strategic Analysis of Indian Nutraceutical Regulatory Scenario through Market Research. International Journal of Current Research and Review, 4 (12). pp. 223-231.

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Abstract

Objective of study: To analyse Indian Nutraceutical regulatory scenario. Research Methodology: A questionnaire was designed including open and closed ended questions. Data was collected through primary data collection method by visiting retail stores to know about the Nutraceutical product in selected area. Convenient, non-probability sampling process was adopted for the study. Sampling Unit: retail shops, medical shops, malls from selected localities of southern Karnataka. Sampling size of 70 was calculated by standard formula to achieve desired confidence level of 97% . Percentage analysis method was adopted for Data Analysis, Statistic calculator (version 3.0) by StatPac Company was used for data processing. This study has revealed that, child Nutraceutical Products are in high demand followed by Nutraceuticals for Pregnant / Lactating Mothers and Weight Gain Products therefore, it is very important to regulate the manufacturing, labeling, and advertisement of the Nutraceutical products targeted to Children, Pregnant and lactating mothers. Increasing trends in preventive therapy is a major driving force for nutraceutical market followed by increase in self medication. It is also important to regulate the advertisement of Nutraceuticals to restrict misleading claims in advertisements. In order to increase the sale of Nutraceutical product, it is advised that, manufacturers should reduce the price of product and make more efforts to spread awareness about the benefits of nutraceutical product. This study reveals that, Nutraceutical manufacturer have tremendous opportunities to explore Nutraceutical market.

Item Type: Article
Subjects: Pharmacy > MCOPS Manipal > Pharmacy Management
Depositing User: KMC Manipal
Date Deposited: 06 Jul 2012 07:26
Last Modified: 06 Jul 2012 07:26
URI: http://eprints.manipal.edu/id/eprint/76785

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