Medical Language Translation Business Plan

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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
Medical language translation business plan, market analysis summary chart image

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%

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