Exporting Medical Syringes to Singapore
Executive Summary
Product
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
Product
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
Bibliography: Khalik, Salma “Singapore ranks second for people on verge of diabetes”. The Straits Times, <http://www.lexisnexis.com.lib-proxy.fullerton.edu/us/lnacademic/results/docview/docview.do?risb=21_T2602259808&format=GNBFI&sort=RELEVANCE&startDocNo=1&resultsUrlKey=29_T2602259815&cisb=22_T2602259814&treeMax=true&treeWidth=0&csi=144965&docNo=22> December 5, 2006 Journal Commision International “Stop Chasing After ISO Certs” July 21, 2007 < http://www.jointcommissioninternational.com/26601/> Final comments: I am not seeing very much in the way of citing respected sources of information. You need to bolster your strategy and argument with facts and statistics that are specific to this industry- look at www.export.gov, look at medical schools or journals that address the Singapore market – consider looking at articles that address Singapore’s share of the “medical tourism” market.. You also need to work on the grammar and eliminate redundant verbage Overall Suggestion Define the opportunity broadly (which you have done)– boil it down to a market segment and explore that market segment – giving enough detail so that we (the audience or readers) feel as if you have become experts on this topic – which wont take much because none of us really know this topic well – but it seems you have a little more work to do before it is convincing.