Exporting Medical Syringes to Singapore

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  • Topic: Medical equipment, Medicine, Syringe
  • Pages : 12 (3980 words )
  • Download(s) : 38
  • Published : April 21, 2008
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Executive Summary

Medical Syringe Co. is one of the top leading providers of medical syringes to hospitals and clinics. We manufacture bulb syringes, Catheter Tip Syringes (feeding tube syringe), Curved Tip Syringes, Feeding/ oral medication syringes, and insulin syringes. We also manufacture syringe and needle combinations as well.

Target Market
We intend to develop the markets in Singapore. According to the State Department, there is much opportunity to export into Singapore. Generally, government accounts for most of the healthcare purchases for the country. We intend to enter the Singapore market because we have seen recent increases in diabetes cases. Data that was released by International Diabetes Federation at its 19th world congress, showed that Singapore ranked second among countries for people on the verge of having diabetes. “About 250,000 people in Singapore are estimated to suffer from diabetes. The Atlas, released yesterday, predicts that by next year, there will be 246 million people with diabetes worldwide. This will jump to 380 million by 2025.” (Straits Times, Singapore 2006). This creates a need for suppliers to supply more insulin syringes. As more and more cases of diabetes arises, patients will look to our syringes to help save their lives. These patients are what drives our demand. To get a picture of how large there operation is that they account 80% of the total number of hospital beds in the country. Singapore will not run out of demand because they the have access to many neighboring countries as well. Singapore cares for patients in Malaysia, Brunei, Indonesia, Thailand and the Philippines. Population abundance demand drives the Singapore medical market. They call this medical tourism – Thailand and Malaysia are big competitors – Singapore might have to focus on a specialty segment. Opportunity

The biggest player in demand of healthcare supplies for Singapore’s own government. They have focused on building structures to help with Medical Supply chain in the country. According to Singapore’s government, they want to expand their market growth in medical and healthcare from 1% to 3% by 2012. There are 134 government hospitals in the country (Star, The Peoples Paper, 2007). There areThey have 23 area hospitals and 6 specialty centers that cater to 400 million people in Southeast Asia. Singapore’s Their government is focussed on medical technology and the medical industry itself, which leaves a lot of room for growth in the coming years. Projected Outcome

We believe that we have laid out the proper groundwork to have a successful impact in medical service to Singapore. Our team has put forth the proper plans in regards to our connections, logistics, and requirements for exportation. For these reasons, we believe that we will more than a 15% return on investment. Based on our projected income statement, we will have at least a 19% increase on profits in 2 years. Our projected income statement is evaluated based on cost from international and domestic cost. Fixed and variable cost were applied to the income statement, we see an increase of $637,331.00. That is almost double from 2007 statement.

Situation and Opportunity
The prosperous country of Singapore can undoubtedly constitute their success to their remarkable business judgments. Within the positive subject matter, Singapore’s import and export of products and agricultures has made a huge impact on the economy. As the country moves toward a long-term goals there is a great need for raw materials to meet the standards of the growing population. The fast growing population demands exceeds supplies, which amount to the annual growth rate of 8 percent a year on imports. Singapore is the most sophisticated economy in Southeast Asia; the government and citizens are confident they are going to continue to do well. The country offers economic and political stability to their citizens and foreign investors with few...
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