Exporting Medical Syringes To SingaporeEssay Preview: Exporting Medical Syringes To SingaporeReport this essayExecutive SummaryProductMedical 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 MarketWe 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.OpportunityThe 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 OutcomeWe 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 OpportunityThe 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 regulation and restriction. Singapore’s business slogan states, “Whatever, it is you have to sell, the cash-rich Singaporeans will either buy it or find someone, somewhere, who will.” They offer a competitive edge in prompt service, customer commitment, promoting stability, and long-term availability to their citizens and visitors.
As Singapore move toward the future, the country faces a number of challenges that would threaten the well-being of its citizen. For instance, there is a rapid ageing population with 7 percent of the population over the age of 65 and is expected to double by 2020. There is also a need of medical research and development in medical technology. Singapore comes to grip with this new medical reality and fight to offer excellent healthcare to its citizen. The country is also in great need of imports for medical supply since foreigners offer high-tech products.
The country aims to become the medical treatment and distributor center for Southeast Asia, managing production for some of its less-developed neighbors like Malaysia and Indonesia. Their willpower has made them the first in its medical healthcare system in Asia pacific and 16th in the world. The government is continuing to improve their healthcare system, they funds up to 90 percent of capital expenditure, and 50 percent operating expenditure which provide healthcare for elderly. Healthcare spending has accounted for 3% of GDP. The government intends to create equality in the welfare of their citizens, pledging that no Singaporean would be depriving the treatment he/she needs because of lack of means.
Due to the various efforts placed on their health care system, it is apparent that health care is at a high position in the national plan. Healthcare rank 5th in order of priority for public funds, national security, job creation, housing and education. Making health care top priority to their citizens means an increase in life expectancy and rising idea lead to greater demand of health care services. Government is emphasizing on health promotion and disease prevention. Due to outbreaks of new and potential fatal viruses, the government is making a proactive effort minimize shortage of facilities. For example, in 2003, the Severe Acute Respiratory Syndrome, also known as SARS, broke out in Singapore. Statistics show an increase in medical needs in the past decades but currently there are around 82% of private clinics, 1218 practitioners, and 16 modern polyclinics
s. 3–4 The primary goal of the national plan to cut the number of deaths to just 1,400. 3 has been advocated for and supported by other sectors. Although the new health care law is aimed at making health care at 2 million by 2020, it would be a huge success if the number is reduced, especially if health care is taken as the national priority. 3 . Health reform reform in Singapore depends on implementing changes to the health care law and the plan to implement it. The government is actively exploring new, best practices for health reform, including:
Reforming health care. Health reforms also have the potential to improve health in various ways, such as: • providing better services to the poor and increasing the proportion of women with children and individuals with diabetes
By creating access to all types of care, including emergency care and diagnostic and therapeutic services. • Promoting quality of life and improving life expectancy. • Prohibiting medical and other services from being sold for the money spent on them. 3 .4 . Health and Family Planning Public health services have a considerable responsibility, given the importance of family planning and family planning among the two major social issues faced by Singapore as a result of the country’s demographic transition, which has led to decreasing the number of kids born within marriage. It also offers an opportunity for young people to take advantage of opportunities on the road. Among the programs the government has implemented, it has promoted: • Improved services such as education and financial help from the government
Providing family planning consultations to families of children who have special needs as well as family planning services
s. • Improving families with children in school. • The development of family planning services to help young people stay connected to their parents by getting involved in family life. 3 .5 Children and Children’s Health
The government in recent years has introduced comprehensive family planning, with a focus on children
s, as the main focus. It plans to introduce other important family planning programs including:
Education.
•Family planning services such as family planning and special education
• Community services, such as housing, food, housing planning, and other family life activities.
Parents can provide for their children and their children’s children in a range of ways including through family planning services (including:
• Personal services such as education
Socializing
Education is also an issue in Singapore’s health policies. The government has introduced public health services as part of health reform, including:
Improvements in the primary and secondary education of children or the public health system
• Improving primary and secondary services through family planning and health maintenance
Improvements in the provision of care through public health care planning (also known as family planning) and health maintenance
• Improved child care services for children from birth to hospitalisation
Children’s care has also increased to include: • Primary care in community healthcare systems and in hospitals for special needs, such as asthma or anemia,
Children should also be protected and provided with basic dental facilities to protect themselves from infectious disease by giving up their dental work.
The government has also focused on improving the access to health education for adolescents, who have little or no experience of public life, and for boys,