Sales and Exports to Asia Medical device companies significantly have increased exports and sales

Sales and Exports to Asia

Medical device companies significantly have increased exports and sales in Asia during the last few years. For example, medical device exports from the United States to Japan were $1.9 billion in 2005 and rose to $3.5 billion in 2008.1 With a weaker dollar, rising incomes in all the Asian markets (except Japan), and the need for more sophisticated products, Western device companies’ sales in Asia should continue to grow.

If your firm uses local Asian distributors to sell your products there, the main issue is whether you have the right distributor network and if your company is providing adequate distributor training, service support, etc. Too many device companies pick the wrong Asian distributor and then when sales are not growing, incorrectly conclude that the market for their products is really not that big.

If your firm has its own sales force in the Asian markets, what is the quality of your salespeople? Often, device companies do not provide enough incentives or training to their salespeople to maximize opportunities. If there is high turnover within your sales force, something is probably not right—retaining key people is crucial to long-term success.