Vygon to dom­i­nate Asia’s health­care mar­ket

Just four years after open­ing its sub­sidiary the man­u­fac­turer has more than dou­bled its rev­enue.

Singapore Business Review - - EVENT COVERAGE: SBR AWARDS -

French med­i­cal de­vice man­u­fac­turer Vygon SA is gear­ing up to carve its mark in Asia’s boom­ing health­care mar­ket. Just four years after open­ing its sub­sidiary in Sin­ga­pore, the man­u­fac­turer has more than dou­bled its rev­enue in the re­gion.

This im­pres­sive feat was achieved through the lead­er­ship of Thana­p­a­thy Ku­mara­iah, Vygon’s re­gional di­rec­tor for Asia-ocea­nia. “There is so much de­mand for Vygon’s wide range of qual­ity med­i­cal prod­ucts due to rise in pop­u­la­tion, con­sumer de­mand and in­come growth,” he ex­plains. “Th­ese fac­tors point to the need for Vygon’s prod­ucts hence Vygon Asia can gen­er­ate hand­some rev­enue, adding that the Asia Ocea­nia re­gion will be a dom­i­nant profit con­trib­u­tor to the group at least for the next four years,” he adds.

More mile­stones ahead

Aided by the other mem­bers of its Sin­ga­pore team, Vygon Asia will heav­ily fo­cus of five pri­or­ity coun­tries, namely Aus­tralia, China, Tai­wan, South Korea, and In­done­sia. “We want to con­cen­trate our dis­tri­bu­tion op­er­a­tions so that it would pro­vide am­ple time for Vygon Asia man­age­ment to look into reg­u­la­tory af­fairs and busi­ness de­vel­op­ment ac­tiv­i­ties and to build and grow a strong team that can serve other promis­ing mar­kets,” Ku­mara­iah says.

He adds that whilst Vygon has se­cured a ma­jor head­start into the promis­ing re­gion, there are ma­jor struc­tural chal­lenges that need to be over­come as coun­tries roll out dif­fer­ent safety stan­dards.

“Most of the coun­tries in the Asian re­gion are now im­ple­ment­ing and adopt­ing dif­fer­ent med­i­cal de­vice stan­dards. For in­stance,

China and South Korea are de­vel­op­ing their own reg­u­la­tions that suit their needs. Th­ese com­pli­cated reg­u­la­tion struc­tures in th­ese coun­tries pose a ma­jor busi­ness bat­tle,” he ex­plains.

As part of a shift in the com­pany’s busi­ness strat­egy, Vygon Sin­ga­pore will be deal­ing di­rectly with cus­tomers and end­ing the tra­di­tional route of us­ing dis­trib­u­tors, says Christophe Def­fontaines, Vice-pres­i­dent Vygon Asia Pa­cific. “By 2022, the group aims to have a rev­enue of EUR500M. And by then, Vygon Asia will be a key con­trib­u­tor to this growth.” he says.

Vygon won this year’s Sin­ga­pore Busi­ness Re­view In­ter­na­tional Busi­ness Awards for Phar­ma­ceu­ti­cals. The award was re­ceived by Thana­p­a­thy Ku­mara­iah.

“By 2022, the group aims to have a rev­enue of EUR500M.“

Thana­p­a­thy Ku­mara­iah, manag­ing di­rec­tor, Vygon

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