The global economy is shifting. Over the next 15 years, there will be a tremendous surge in the middle class worldwide – the primary consumers of marketed health products. Find out why North American suppliers are exporting their products internationally – and why you should too.
For many years our consultants have been trusted partners for our clients, and international business development is no exception. We are thrilled to bring our clients into new markets with confidence and care. Our company has a singular objective – to improve our clients’ chances of success in the markets they penetrate.
The global economy is shifting. Over the next 15 years there will be a tremendous surge in the middle class worldwide – the primary consumers of marketed health products. Today, the most targeted markets for health products are the USA, Canada and European Union. By 2030, World Bank estimates that North America will retain only 7% of the global middle class (down from 18% today). And all eyes are on Asia.
Many health product manufacturers in Canada and the USA are hesitant to expand their sales internationally. Or perhaps put more eloquently, many have not developed intentional plans to expand internationally – and their experiences to date have left them wanting. Expanding into a new market – any new market, foreign or domestic – requires thought and care. With the right plan, you will diversify your business and won’t look back.
Dubai is a city unlike any other, which has grown like a wildflower out of the desert. Dubai is a great example of a burgeoning market widely unknown to suppliers in North America. Known as the “Hong Kong of the Middle East”, Dubai in the UAE is poised to become an international hub for trade in the region. The great value of bringing health products to Dubai, however, is as a strategic launching point into the Middle East. According to World Bank, by 2030 there will be 234 million people in the middle class in the Middle East, rivaling North America (313 million people by 2030). These effects are predicted globally, with Asia Pacific gaining 59% of the global middle class by 2030.
In Canada and the USA, marketed health products have an accelerating rate of competition in the domestic marketplace. The shelves are crowded, and new brands are launching every day. For marketed health products in Canada and the USA, the market is crowded and noisy. Getting noticed is 99% of the sales struggle.
Contrast this to overseas markets, where the rising consumer class have less to choose from. Especially when it comes to quality products. In many foreign markets such as the UAE, health products are sourced internationally, not manufactured locally. The challenge for manufacturers in Canada and the USA, however, is lack of experience and insight in developing an international sales strategy. This is where we come in. We will take you to foreign markets with confidence.
“The world is in the throes of a major expansion in the middle class, particularly in emerging Asia.” – World Bank (Brookings Institution, 2011)”