GENICON Case Study

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Executive summary (200 words):
GENICON is a U.S. based firm owned by Gary Haberland wanted to maintain its business but it was quite difficult to run locally since the U.S. health care market preferred purchasing through group purchasing organizations (GPO). GPO has always preferred to purchase products from only the largest companies, Accordingly, Haberland has decided to seek international markets and was able to establish international business in almost 30 countries around the world.
In Addition to that, Haberland is currently considering to grow and diversify by identifying the best market opportunity for growth internationally as it was expected to grow faster than the U.S. market by 5%. He has considered four of the most promising countries;
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Its rapidly growing population and the government’s commitment to expanding access to essential health care were key drivers of future growth in the market. According to BMI, ABIMED, WHO, US Commercial Service, the medical device market in 2008 was $3.0 billion, and was expected to reach $5.7 billion by 2013. Brazil’s medical device market valued at $3.0 billion in 2008was the largest in Latin America. A compound annual growth rate (CAGR) of 13.8% was anticipated through 2013, driven by increase in health care expenditures. With the few large-scale domestic manufactures and a large rapidly growing market, Brazil’s medical device sector offered strong potential for foreign device makers to exploit imports. Medical devices approvals were based on four–tier system were low-risk health products were allowed easier access to the market compare higher risk products. But the registration process was relatively swift taking around 10 months and were valid for 5…show more content…
According to BMI, RMBC, WHO, US International Trade Administration, Coalition for US-Russia Trade, the medical device market in 2008 was $1.98 billion, and was expected to reach $2.88 billion by 2013. The ongoing modernization of the health care system was the key drier of the medical device market’s growth, through this was other followed by an inconsistent and piecemeal manner. On the other hand, foreign investors were put off by poor legal safeguards, high levels of bureaucracy and
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