Vygon Group Expands into Singapore
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Vygon has announced the opening of a subsidiary in Singapore.
This latest expansion will strengthen Vygon’s presence in Asia-Pacific, a strategic market for the group. The new site will be a base for local development and direct sales in the region.
“We are delighted with the opening of our subsidiary in Singapore, at the crossroads of the strategic markets of Asia and Oceania,” said Stéphane Regnault, chairman of Vygon’s board of management. “This subsidiary brings us closer to our customers, nearly all of whom will be within a six-hour reach. Our goal is to provide highly tailored solutions for specific market needs.”
Thanapathy Kumaraiah, regional director for Asia-Oceania, manages the subsidiary. Its role is to provide the necessary support to Vygon’s distribution network in the region: product registration, marketing support and training seminar organization. Four countries will be managed as priority targets: Australia, China, Indonesia and South Korea.
“The Asia-Pacific region faces numerous challenges, with countries that do not follow the CE mark and have specific and significant demands in terms of documentation and clinical trials,” said Christophe Deffontaines, vice president, Asia-Pacific. “We aim to increase our sales in the region six-fold, by providing customized marketing and training to our distributors in the local environment.”
Asia-Pacific, a high-potential target market
Vygon has divided its markets into six geographical areas. Among these, the Asia-Pacific area includes Asia and Oceania, along with the Middle East and South Africa. Heavily populated China, India and Indonesia are included within the Asia-Pacific region, which as a result encompasses nearly two-thirds of the world’s population.
The development of health care services has become a priority here. It has to meet greater and greater challenges in public health care. The main factors in the increase in health care expenditure, particularly on medical devices, are an aging and growing population and the increase in the number of chronic diseases.
Vygon already has a presence in a number of countries in this territory through its 25-strong network of offices and subsidiaries. The most recent offices opened were in Japan (2009), Dubai (2004) and India (1995).
Vygon Group expects to double its sales by 2022, with a target of 20% of Group sales coming from Asia-Pacific by that point.