Sirona Hygiene, the Indian femtech company known for its innovative women's wellness products, has staged a strong recovery after its founders regained control in 2025. The company is now targeting an annual recurring revenue (ARR) of ₹500 crore within the next 24-36 months, according to co-founder Deep Bajaj.
Company Rebound and Growth Targets
Sirona was founded in 2015 by Deep Bajaj and Mohit Bajaj with the launch of PeeBuddy, a portable female urination device. It later expanded into menstrual cups and intimate hygiene products. In 2022, The Good Glamm group invested ₹100 crore into the company, and in 2024 acquired it in an all-cash deal valued at ₹450 crore. However, within four months of the deal closing in 2025, the founders bought back the company as The Good Glamm group faced mounting losses.
"We have now scaled up to about ₹100 crore ARR. I will be disappointed if we don't reach ₹500 crore revenue run rate in the next 24-36 months," Bajaj said. He added that without the acquisition disruption, the business would have already been at ₹220-300 crore run rate, and the focus is to recover that level in one year.
Market Penetration and Product Innovation
Bajaj highlighted the dramatic growth in menstrual cup adoption, stating, "In 2018, we may have sold about 1,000 menstrual cups, but in 2023 we were selling 8 lakh cups a year. Today, about 5 million women use our cups, moving away from sanitary pads forever."
| Year | Menstrual Cup Sales |
|---|---|
| 2018 | ~1,000 cups |
| 2023 | 8 lakh cups (800,000) |
| Today | 5 million users |
The overall menstrual cup market in India is estimated at ₹100 crore, and Sirona has regained about 50% market share on online channels after its relaunch. Bajaj noted that challenger formats such as menstrual cups, liners, and period panties have captured a 20-25% share of the feminine hygiene space, and this shift is accelerating among millennials and Gen Z.
The current portfolio includes menstrual cups, tampons, period panties, pH-balanced intimate care, and toilet hygiene essentials. The company also launched India's first herbal period pain relief patch and the first natural anti-chafe cream for intimate areas.
Expanding into Menopause Care
In a strategic move, Sirona recently launched a specialised menopause-focused product range. "Menopause is one of the most underserved yet high-potential categories within women's healthcare. This launch is a natural extension to build a comprehensive women's wellness portfolio that supports every life stage," Bajaj said, emphasising the company's mission of breaking taboos.
As the market evolves with social media awareness and online shopping proliferation, Sirona plans to continue innovating for unaddressed hygiene issues from puberty to menopause.
Implications for Trade and Distribution
For trade executives, Sirona's aggressive ARR target and market share gains signal robust demand for women's wellness products in India. The company relies heavily on online channels, which accounted for a 50% market share for menstrual cups. Importers and distributors of raw materials (medical-grade silicone, organic cotton, etc.) and packaging may find opportunities as Sirona scales production. The shift from traditional sanitary pads to alternative products also opens up new supply chain segments, particularly for specialised absorbent materials and eco-friendly components. With a planned revenue run rate of ₹500 crore, sourcing partners and logistics providers should anticipate increased order volumes and potential expansion into tier-2 cities and rural markets as awareness grows.
What to watch: Whether Sirona achieves its ₹500 crore ARR target within the announced 24-36 month timeline and how it expands its menopause range into both online and offline retail channels.
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