Plan Outline
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SIC 7389 Business Services - Business services, nec
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Medical Language Translation Business Plan
Global Health Translations
Market Analysis Summary
In the biomedical industry, each new product, instantly, has an international market. The problem for most companies is finding translators that understand the medical concepts in their materials. This is a critical first step is assuring that foreign subsidiaries can use the material. It is an essential component of releasing the product to market during its optimum window of opportunity. Poor translations can create delays that will push back release dates. This ultimately will impact the company's sales.
4.1 Market Segmentation
Global Health Translations will focus on three significant client groups:
- Medical device companies
- Pharmaceutical companies
- Biotechnology companies
| Market Analysis | |||||||
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
| Potential Customers | Growth | CAGR | |||||
| Medical Device Companies | 10% | 3,240 | 3,564 | 3,920 | 4,312 | 4,743 | 10.00% |
| Biotechnology Companies | 10% | 3,300 | 3,630 | 3,993 | 4,392 | 4,831 | 10.00% |
| Pharmaceutical Companies | 10% | 1,020 | 1,122 | 1,234 | 1,357 | 1,493 | 9.99% |
| Total | 10.00% | 7,560 | 8,316 | 9,147 | 10,061 | 11,067 | 10.00% |
