Every year Russian Government purchase traditional glucose sensors and expenditure materials for diabetics. Using Cybiocare product government as well as the people can economize on the consumables, the company will be probably able to get the public purchase contract.
In this sector we need to analyze how economical environment influence the way our company will operate on the Russian market, what problems it can face getting the recourses etc.
First of all we want the focus on the governmental support. Due to the fact that your product is customized to people with very serious illness – diabetes, we can count on the governmental help. Diabetes as well as the AIDS, tuberculoses and many others is included in the list of the socially important diseases, thought hospitals, special centers and companies which provided help to sick people can get the contracts and money. This is the most important recourse for Cybiocare company.
Nowadays Russian government provide diabetics with the glucose sensors and special stripes (government, as well as people spent the majority of money on this consumable material). During the last year Russian government increase the part of the budget for the diabetes now is around 30%. Moreover as PGS is included in the list of medical equipment Cybiocare can get tax concession (the company will get the VAT expenditures back).
Secondly, we need to understand what other key recourses company needs. As it will produce in Russia only the plastic part of the product the company will not probably meet any problems, but it can face some complications with getting the premises for the production. Also last increasing in transportation costs can influence the total costs and price of the PGS but the company doesn’t need to transport huge amount of good this factor is not that important.
The most important issue is that unfortunately diabetes is widely spread among all groups of people. First of all there are two types of diabetes the first one is widely spread among young people and children, as for the second one it become apparent in elderly ages. That means that our product could be used by people of all ages. In comparison with for example vascular diseases, which is more typical for elderly people.
Moreover diabetes doesn’t depend on level of income, as for example tuberculosis that is more widely spread among pure people.
Among cultural factors we can mention the changing attitude to the diabetes. Just several years ago diabetics were considered as almost disabled people due to that fact that they were forced to control level of sugar and depend on insulin. Nowadays everyone wants to leave free and actively and diabetics are not exclusion.
The other issue that can influence the popularity of PGS is attitude towards shots among glucose sensors users. The Photonic Glucose Sensors can exempt people from shots.
First of all we need to mention that unfortunately nowadays there is no radical treatment for the first type of diabetes. Thereby till person get this disease he have to cope with it all life long, use glucose sensor, special strips and insulin. Due to this factor traditional glucose sensors are widely used and which is more important produced in Russia, technologies in this field are developing mostly in this direction. Traditional glucose sensors are becoming more convenient, more easily to use, but still people don’t feel free and cannot live active life.
As for the photonic technologies in this field they are just developing in Russia and today there is no serious models of non-invasive glucose sensors, so Cybiocare will be the pioneer on this market with its product Photonic Glucose Sensor.
As we mentioned before governmental contract is a good chance to be successful for the Cybiocare. But the its not a secret that in Russia successful project, good perspective and low costs is not enough for getting the contract due to the high level of nepotism. Unfortunately there is now way to prevent tor reduce this factor and company will have to spend huge recourse.
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