A medical gadget producer in Cardiff has expanded its enterprise into the Center East for the primary time after securing a contract within the area with the assistance of the Welsh Authorities.
Eakin Surgical, which produces high-quality, single-use surgical devices from its website in Llanishen, set its sights on coming into the Center East market as a part of the corporate’s technique to develop its international presence and gross sales via exports.
The corporate has appointed a brand new distributor within the area after attending the Arab Well being exhibition in Dubai as a part of a Welsh Authorities commerce mission. The deal will see Eakin Surgical’s merchandise bought throughout the UAE, Saudi Arabia, Oman, Bahrain and Qatar, opening up probably big new income streams for the enterprise.
The Center East is a key goal marketplace for the corporate alongside Latin America and components of Asia, all of which have rising and thriving healthcare and life sciences sectors.
Worldwide gross sales account for a 3rd of Eakin Surgical’s enterprise, however the firm is aiming to triple its export figures over the subsequent 5 years by coming into these new goal markets. It at present exports its merchandise to twenty-eight international locations throughout Europe, Australia, New Zealand and South Africa.
Alana Rodgers, Head of Gross sales at Eakin Surgical stated:
“We didn’t have a lot of a global presence till round 5 years in the past after we began exploring the alternatives that exporting provides. We now see exporting as a key path to enterprise progress and are placing a technique in place to increase our presence inside our current areas, like Europe, whereas coming into new profitable markets too.
“The Center East is a brand-new enterprise for us however provides big potential. After securing our first distributor, we expect our gross sales within the area to achieve $300,000 by 2026. Add to that different key markets which have nicely established well being sectors, like Asia and Latin America, and the probabilities are infinite.”
The current growth comes after the corporate additionally secured a brand new distributor in Spain, and is in talks with one other in Romania, after attending a Welsh Authorities commerce mission to Medica, the world’s main medical exhibition held in Germany, final yr.
Assist from the Welsh Authorities has performed a key position within the firm’s export progress over the past 5 years. In addition to attending worldwide exhibitions on varied commerce missions, the agency has obtained assist creating an financial export plan and figuring out attainable clients and distributors abroad.
Alana added:
“Trying forward, Latin America would be the subsequent space we’ll purpose to enter, adopted by Asia. Just like the Center East, these areas have expansive healthcare markets and a rich shopper base that’s extra open to disposable devices, undeterred by the extra price.
“We’re at present constructing our portfolio for Latin America and plan to utilize additional Welsh Authorities assist to go to the area subsequent yr on a subsidised foundation to help with our market analysis.
“If it wasn’t for the assistance of our Welsh Authorities commerce advisor, we wouldn’t have even recognized concerning the worldwide exhibitions that we have now attended, which have performed an important position in our success having straight led to new enterprise.”
Established in 2001, Eakin Surgical, a part of the broader Eakin Healthcare Group, specialises within the manufacture of single use devices used for classy surgical procedures. The merchandise provide a high-quality disposable different to everlasting instruments, which may compromise affected person security and outcomes due the problem in cleansing such intricate objects.
