Medical Supply Manufacturing
In today’s world, the fastest growing market for medical devices is found in the lesser and least developed nations of the world. While they are relatively small markets presently, they hold immense potential.
To date, close to 30% of the world’s healthcare expenditures are in the developing world and this percentage is continuously growing. Despite that, over 95% of the medical equipment is imported. There is typically no local production, and when there is, it is controlled by multinational corporations, often for export.
We believe that the key to ameliorating these problems is in strategic approach to financing and coordination of local infrastructure aimed to provide locally produced, cost-effective solutions for diagnosis or treatment of a variety of medical conditions.
In this particular project we have assessed a territory plagued by shortages of an essential medical device. The local communities are faced with daily uncertainty involving backorders, timeliness of deliveries and rising costs.
VEIAG A&E Team have established that the market demand for this product in region currently stands at 3-3.5 million units per annum. It was proposed that in the case where VEIAG was to realize local production of this product and implement efficient processes along the supply chain, this locally produced product would be 20-25% cheaper than its current price on the market. It would be produced at a quality acceptable to customers and delivered at highly competitive cost with reliable delivery times.