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.