Photonic Glucose Sensor on Russian Market, страница 7

The other negative factor is high level of bureaucracy; company will probably face problems during operations and especially on the very start. As Cybiocare produces medical equipment it will have to get a lot of licenses, problems can appear on the stage of getting the premises, equipment ect.

The last important environmental factor is negative statistics of the diabetes in Russia. The quantitative of diabetics is doubled every 15 years.

Legal factors

The only legal factor that can influence Cybiocare company operations is complexity with getting all the required documents for registration of medical equipment production. The most important ones are the following:

-  Documents, that confirm that production facilities are meet the required demands of Russian legislation

-  Documents, that confirm the compliance with technological demands of the product

-  Documents, that describe the technological issues of product

SWOT analysis

Strengths

Weaknesses

A. The latest stage in a process of non-invasive glucose sensors development among the competitors (have the product prototype)

B. More cost-efficient and advanced glucose sensor on Russian market

C. Strong R&D capability

D. Expertise in developing and manufacturing non-invasive medical devices

E. High labor costs of production in Canada

F. The process of licensing is not completed yet neither in Canada nor in Russia

G. The concrete figures can be displayed with help of applications which now are developed only for iPhones

H. PGS has to be from time to time checked by invasive sensor

Opportunities

Threats

I. Possibility working on B2G market

J. Tax remissions for importing medical equipment

K. Possibility of manufacturing in Russia

L. Cooperative promotion with government

M. Other companies can license IR non-invasive glucose sensors early

N. Risk of non-invasive glucose sensors on the base of other technologies entering Russian market

O. Threat of not getting patent on Russian market

P. Russian consumers can be loyal to invasive sensors because of their habits and conservativeness

 R. Risk of strong pressing from the major producers of invasive glucometers (Roche and Lifescan)

Used SWOT analysis task

List of SWOT items under consideration

Consequences expected

Actions and/or counteractions

How can we Use Strength?

More cost-efficient and advanced glucose sensor on Russian market

High demand from end consumers; effective for government because there is no need to subsidize expandable materials 

Explaining benefits for both B2C and B2G customers

 Strong R&D capability

High probability of getting license; more advanced technology than possible competitors have

Maintaining core competence

How can we Stop Weakness?

The concrete figures can be displayed with help of applications which now are developed only for iPhones

iPhones are not widespread in Russia and it can prevent consumers from buying our product

Development of new applications to provide an ability to connect with other devices 

High labor costs of production in Canada

High end price

Replacing manufacturing to Russia

How can we Exploit Opportunity?

Possibility working on B2G market

Guaranteed sales volume

Thrashing over all the possibilities of conducting contracts with government persuading that it is better for population and more saving

Possibility to set up production facilities in Russia

Cost reduction

Search for production facilities

How can we Defend against Threat?

Risk of non-invasive glucose sensors on the base of other technologies entering Russian market

Tough competition

Invest into promotion and advertising

Threat of not getting patent on Russian market

Not entering the market

Process of other country selection