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Conquering foreign markets - the German and the Scandinavian Medtech Markets" Webinar In2LifeScience 20. June 2013 Mr Benny E. Sørensen, In2LifeScience.

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Presentation on theme: "Conquering foreign markets - the German and the Scandinavian Medtech Markets" Webinar In2LifeScience 20. June 2013 Mr Benny E. Sørensen, In2LifeScience."— Presentation transcript:

1 Conquering foreign markets - the German and the Scandinavian Medtech Markets" Webinar In2LifeScience 20. June 2013 Mr Benny E. Sørensen, In2LifeScience Consultant Partner SØRENSEN – Connecting Markets

2 Agenda 1.Short presentation SØRENSEN – Connecting Markets 2.Introduction: Lower Saxony as a gateway to Germany a.Lower Saxony a strong Life Science location 3.Introduction: Denmark as a gateway to Scandinavia a.Medicon Valley – a top medtech region 4.Practical guidelines to successful internationalization 5.Practical cases 6.Questions/ Discussion 20 th June 2013

3 SØRENSEN ApS SØRENSEN e.K Connecting Markets GmbH Our Organisation Sales, Marketing, lead-generation DK Sales, Marketing, lead-generation DE Project Management 1. Short presentation SØRENSEN – Connecting Markets

4 Our Services Coaching & Strategiy development Market research Partnering Assistance with own set-up 1. Short presentation SØRENSEN – Connecting Markets

5 Selection of Life Science reference projects 1. Short presentation SØRENSEN – Connecting Markets

6 Selection of public cooperation partners – Germany 1. Short presentation SØRENSEN – Connecting Markets

7 Selection of IHKs Germany IHK Braunschweig IHK Stade IHK zu Hannover IHK Lüneburg-Wolfsburg IHK Osnabrück-Emsland IHK Oldenburg IHK zu Münster IHK Rostock IHK Berlin IHK Essen IHK Köln IHK Kassel Etc. 36 Selection of public cooperation partners – Germany 1. Short presentation SØRENSEN – Connecting Markets

8 Selection of public cooperation partners – Denmark 1. Short presentation SØRENSEN – Connecting Markets

9 Germany 82 m citizens Nominal GDP per capita (2012): EUR 32,276 Main religion: Christianity, 30% Catholics (South+West), 29,9% Protestants (North+East) Head of state: Federal president Joachim Gauck Head of government: Federal chancellor Angela Merkel Annual real GDP growth (2012): 0,7% Major Trading Partners: France, the United Kingdom, the Netherlands, the United States and China Languages: German. 67% of German citizens claim to be able to communicate in at least one foreign language and 27% in at least two languages other than their own 2. Introduction Lower Saxony as a gateway to Germany

10 Germany 82 m citizens Regional differences between North, East, West and South 2. Introduction Lower Saxony as a gateway to Germany Federal State Areal km² Citizens, totalCitizens/ km² Berlin891,543.431.6753.849 Hamburg755,161.772.1002.347 Bremen404,28661.8661.637 Nordrhein-Westfalen34.088,4317.933.064526 Saarland2.568,651.030.324401 Baden-Württemberg35.751,4810.749.506301 Hessen21.114,756.064.953287 Sachsen18.419,484.192.801228 Rheinland-Pfalz19.853,704.028.351203 Schleswig-Holstein15.799,222.834.260179 Bayern70.551,5812.519.728177 Lower Saxony47.626,607.947.244167 Thüringen16.172,142.267.763140 Sachsen-Anhalt20.447,642.381.872116 Brandenburg29.480,972.522.49386 Mecklenburg-Vorpommern23.186,291.664.35672 Germany, total357.111,9182.002.356230 Source: Statistik Portal der Statistischen Ämter des Bundes und der Länder

11 Lower Saxony – a gateway to Germany and a gateway to Europe An industrial location with a great future The second-largest German federal state The fourth-largest population (approx. 8 m) Geographical location in the heart of the European Union Exceptional infrastructure: central hub linking northern and southern, eastern and western Europe Lower Saxony – a gateway to Germany and – a gateway to Europe 2. Introduction Lower Saxony as a gateway to Germany

12 2. Introduction Lower Saxony as a gateway to Germany Lower Saxony Strong sectors Lower Saxony is home to almost every sector of industry and commerce and many sectors are at the forefront. These include: - The automotive industry including - The maritime industry - The automotive supply industry - The steel industry - The chemical industry - The aviation industry - The agricultural and food industry - Machine-building - Solar and wind energy generation - The healthcare industry - The life science and medical sectors - The insurance and tourism branches

13 Life Sciences in Lower Saxony Life Sciences and Biotechnology take a top position in Lower Saxony More than 260 companies with almost 20,000 employees work on enzymes, vaccines, innovative medicines and seeds Extensive research landscape with many first-class research facilities Area of life science: 18 universities and technical colleges Area of biotechnology: additional 80 research institutions and 230 working groups 2. Introduction Lower Saxony as a gateway to Germany

14 2. Introduction Lower Saxony as a gateway to Germany Life Sciences in Lower Saxony Companies, universities and institutes within the fields of biomedical technology and biotechnology are spread out across Lower Saxony However, they are particular concentrated around the agglomerations of Hannover, Göttingen and Braunschweig

15 2. Introduction Lower Saxony as a gateway to Germany Life Sciences in Lower Saxony Lower Saxony has special potential and unique features within: Infection research Genome- and proteome based diagnostics Biomedical engineering Biomaterials, biotechnology Regenerative medicine Neurobiology Nutrition and agricultural biology

16 Denmark 5.5 m citizens Nominal GDP per capita (2011): EUR 40,200 Religion: Evangelical Lutheran Head of state: Queen Margrethe II Head of government: Prime Minister Helle Thorning Schmidt Annual real GDP growth (2011): 1.0% Major Trading Partners: Germany, Sweden, the Netherlands, China, the United Kingdom, Norway Languages: Danish. 86 % of the Danes speak English, which is the predominant second language 3. Introduction Denmark as a gateway to Scandinavia

17 Denmark as a gateway to Scandinavia Through the bridge to Sweden, Denmark has become a gateway to Scandinavia The region Malmø Copenhagen has become an important trade and service center of Northern Europe Øresund region Attractive test market: Use Denmark as a gateway to Scandinavia Danish consumers are the fastest in the world to adopt new products Tech-savvy consumers Optimal market size Work culture that supports innovation Scandinavia: A market nearby ! Source: Copenhagen Capacity 2008 3. Introduction Denmark as a gateway to Scandinavia

18 Scandinavian population Attractive concentration of citizens 25 m consumers Source: Copenhagen Capacity 2008 CountryPopulation Denmark5.450.000 Copenhagen1.831.000 Sweden9.100.000 Stockholm1.624.000 Norway4.690.000 Oslo763.000 Finland5.280.000 Helsinki551.000 3. Introduction Denmark as a gateway to Scandinavia

19 Source: http://www.faz.net August 2012http://www.faz.net ConsistentlyTop-Ratings for Scandinavia growth with stability 3. Introduction Denmark as a gateway to Scandinavia Those who seek security, should go to the North! (http://www.format.at, Bloomberg/Jochen Hahn, 24.07.2012)http://www.format.at

20 Medicon Valley – one of Europes most successful Life Science Clusters 1997 2013 3. Introduction Denmark as a gateway to Scandinavia

21 Medicon Valley – a TOP Medtech Region in the Øresund Region Cluster Facts Population is approx. 3.6 m with a work force of approx. 1.5 m people Companies with R&D and/or production: Approx. 200 medtech companies, 150 biotech companies and 25 pharma- ceutical companies Approx. 44,000 employees in the private life science sector 15 Clinical Research Organizations and 13 Contract Manufacturing Organization 12 Universities, 5 of which supply life science related educations 150,000 students and 10,000 scientists 7 Science parks with significant focus on Life Science 3. Introduction Denmark as a gateway to Scandinavia

22 Medicon Valley – a TOP Medtech Region Your benefits in Medicon Valley Highly skilled employees – crucial to knowledge based companies A well-established medtech, biotech and pharmaceutical industry Medicon Valley is a gateway to the Nordic medtech market Access to capital - finance your development from Medicon Valley Unique interplay between universities, hospitals and industry Excellent in combining different areas of technologies and competences Attractive environment for clinical trials and development with focus on user involvement 3. Introduction Denmark as a gateway to Scandinavia

23 Further attractive general conditions in Denmark TOP rankings in the last years within the Ease of Doing Business by the World Bank Attractive general conditions: Easy to set up a business (and close down) High flexibility of the labour market and no dismissal protection Low labour costs Low corporate tax Low risk – low start-up costs (low equity) Etc. Source: Copenhagen Capacity 2013 3. Introduction Denmark as a gateway to Scandinavia

24 Germany – sixteen states – sixteen cultures Independent of your starting point – CULTURE matters: 4. Practical guidelines to successful internationalization Scandinavia – four countries – four cultures

25 Example: The German Ice Bergvs. The Danish Ice Berg High population density Many citizens History Performance society High competition Highly specialized Regional diversity Multiethnic state Hard working Ordnung muss sein Punctuality Perfection Cleanliness Thorough planning Reliability Central position Urban structure Low population density Few citizens History Welfare society Outskirts Relatively homogenous population Easy going Tradition and modernity Family orientation The law of jante Strong women Openness towards new things Humility is positive Justice All are equal(ly good) Consensus Laissez fair 10% 4. Practical guidelines to successful internationalization

26 It is not just about explaining your product – it is about positioning and finding the right way into the market New and foreign markets are foreign and different markets: Market size Health care systems Decision makers (centralized vs. decentralized) Reimbursement and financing systems Routines Customers Certificates and approvals Sales channels (distributors, own salesmen, etc.) Sales arguments It is essential to gather local market information ! Find your local USPs, that match to market conditions ! Successfully expanding to new markets 4. Practical guidelines to successful internationalization

27 Direct Sales Agent Distributor Joint Venture Strategic alliance Representing office Branch Subsidiary Risk and investment increase Control and market knowledge increase Your succeful market entry – the choice of market entry strategy 4. Practical guidelines to successful internationalization

28 Your succeful market entry The choice of your individual market entry strategy should be dependent on: + Present market situation + Timing + Your individual situation + Your company's export preparedness + goal oriented planning = Differentiated market entry strategy Market knowledge Market commitment No regular export activities Export via independent representatives Establishment of sales subsidiary Production or manufacturing 4. Practical guidelines to successful internationalization

29 Lina A/S A medium-seized danish company that develops, produces and sells person lifts After focusing on the Danish market they turned their gaze beyond the borders – towards Germany A market analysis showed that it was an absolute requirement to be present in the market if a market penetration was to be guaranteed Approval from the German Krankenkassen (health insurance companies) to reimburse the products Sales via distributors and Sänitätshäuser/ Orthopädiehäuser (special medical supply stores) Here patients were advised and counseled The market strategy was first applied locally in Lower Saxony and later expanded to the whole of Germany 5. Practical cases

30 Anonymous Development and manufacturing of medical devices for aortic and peripheral vascular diseases Product portfolio includes conventional grafts and interventional implants for cardiovascular surgery, radiology and cardiology For many years the company followed the market strategy to use partnerships abroad Since the product required a lot of explanation it was very difficult to achieve the wanted market penetration In the end, the company terminated the partnerships and hired their own employees 5. Practical cases

31 De Koningh Medical Systems De Koningh Medical Systems develops high tech mechatronic instruments and systems for the medical market The company aspired to grow internationally and had several positive feedbacks from Scandinavia A marked research was conducted to get a feeling about standards and recommendations about market entry modes in Scandinavia Due to market size (25 mio. Inhabitants) and market conditions, the company got recommended to establish an own set-up on the market This was positively decided and as a first step, the company had to build up internal competences to secure a long term market entry 5. Practical cases

32 Vodisys Medical Software A Dutch Company who produces a high dedicated medical software for hospitals and universities Company is used to invest 5-6 years to get access into the first concrete customer- discussions During the research on the Scandinavian Vodisys got in contact with 4-5 hospitals and universities first orders were already given on the first meeting A sales office was founded immediately in Denmark "It was just because I was curious I came to the Chamber of Commerce to meet Sørensen, now it is serious business." 5. Practical cases

33 Polytech POLYTECH Health & Aesthetics is a German manufacturer of soft-tissue silicone implants One of the market leaders for silicone implants in Europe POLYTECHs products are used worldwide in more than 60 countries for reconstructive and aesthetic plastic surgery Based on a market research the company find out that they had to work with high dedicated partners in the market Sweden offered a unique market opportunity and a partner was found, who was able to further develop the market in Scandinavia 5. Practical cases

34 Conclusion Be aware of local conditions: culture, market structure, pricing etc. knowledge is essential The choice of sales strategy in new markets is not always the same as in the home market New markets are more interested in the hands-on advantages that your product can provide in their system than in long technical descriptions find your local USPs 5. Practical cases

35 Let us talk about your companys individual possibilities We can also arrange a telephone/Skype meeting, in order to discuss your individual situation Just get started ! 1.6. Questions/ Discussion6. Questions/ Discussion

36 Thank you for your attention! SØRENSEN – Connecting Markets GermanyDenmark: Sørensen e.K.Connecting Markets GmbHSørensen ApS Podbielskistr. 333Nerongsallee 9Centervej 2 E D- 30659 HannoverD- 24939 FlensburgDK- 6000 Kolding Tel: +49 511 965 18 10Tel.: +49 461 9049 3949Tel.: +45 7634 4500 E-mail: de@connecting-markets.com cm@connecting-markets.comdk@connecting-markets.comde@connecting-markets.comcm@connecting-markets.comdk@connecting-markets.com Web: www.connecting-markets.comwww.connecting-markets.com Mr. Benny Egholm Sørensen bes@connecting-markets.com


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