Entering International Markets With a New Medical Device : case Innomentarium Oy
Kimani, Mary W. (2020)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020060416891
https://urn.fi/URN:NBN:fi:amk-2020060416891
Tiivistelmä
The case company is a Finnish medical device manufacturer which has developed a mammography upgrade solution. With a well-established local market, the case company is now exploring opportunities to expand to international markets, including Lithuania.
The goal of this thesis is to study the business environment and assess the market potential of a mammography digitizing solution in Lithuania, and to guide the commissioning company on the most suitable market entry strategy.
The theoretical chapter is based on well-known and reliable printed and electronic sources. The study consists of a theoretical framework for the fundamentals of entry into the Lithuanian market and the analysis of the customers of medical equipment in Lithuania. Printed and electronic sources have been used. References are drawn from official Lithuanian and European statistics and reports on mammography and medical equipment market in general.
Qualitative research was chosen for the study, information was gathered through interviews and online surveys to support theoretical and practical understanding. Findings from the research shows that Lithuania is an attractive investment country for Finnish companies due to its business- friendly regulations. There are no specific restrictions for the case company to enter Lithuania with a new medical device, however, according to the findings, the market size is small.
During the research, I realized the need to study the complexity of procurement processes, both in public and private, and to find out whether the procedures are similar or more complicated in public hospitals than would be the case in private hospitals. This would be an area that could be further studied in the future.
The goal of this thesis is to study the business environment and assess the market potential of a mammography digitizing solution in Lithuania, and to guide the commissioning company on the most suitable market entry strategy.
The theoretical chapter is based on well-known and reliable printed and electronic sources. The study consists of a theoretical framework for the fundamentals of entry into the Lithuanian market and the analysis of the customers of medical equipment in Lithuania. Printed and electronic sources have been used. References are drawn from official Lithuanian and European statistics and reports on mammography and medical equipment market in general.
Qualitative research was chosen for the study, information was gathered through interviews and online surveys to support theoretical and practical understanding. Findings from the research shows that Lithuania is an attractive investment country for Finnish companies due to its business- friendly regulations. There are no specific restrictions for the case company to enter Lithuania with a new medical device, however, according to the findings, the market size is small.
During the research, I realized the need to study the complexity of procurement processes, both in public and private, and to find out whether the procedures are similar or more complicated in public hospitals than would be the case in private hospitals. This would be an area that could be further studied in the future.