Siemens: Biomedical Innovation & Venture Creation in Saudi Arabia

This report examines the biomedical innovation and venture creation strategies of Siemens Healthineers, focusing on the reusable products business model and its application in the Saudi Arabian market. The selection of Saudi Arabia as the beachhead market is based on the compatibility of the product, available resources, and the market's potential. The primary products targeted for this market include advanced imaging and diagnosis systems such as X-Ray, MRI, CT scanning, and advanced digital imaging. Given the increasing saturation and competition in the healthcare equipment manufacturing industry in Western countries, Saudi Arabia presents a promising opportunity for Siemens' advanced imaging devices. The target demographic includes middle-class, upper-middle-class, and elite segments of Saudi society who seek high-quality healthcare solutions. The report also highlights the growing demand for cost-effective imaging products, projecting a total addressable market of over $12.3 billion for advanced imaging devices by 2020. The analysis references sources on US health policy and entrepreneurial networks to support its findings.

Running Head: BIOMEDICAL INNOVATION & VENTURE CREATION
BIOMEDICAL INNOVATION & VENTURE CREATION
Name of the Student
Name of the University
Author note

1BIOMEDICAL INNOVATION & VENTURE CREATION
The purpose of choosing the Reusable products based business model it to examine the
Biomedical Innovation and Venture creation of one of the most renowned Biomechanical
company named Siemens. The target market has been chosen as Saudi Arabia. The choice of the
market is totally based on the compatibility between the product and the resources available
along with the market itself. In this case the product for the beachhead market of Saudi Arabia
will be the general imaging and diagnosis systems including X-Ray, MRI, CT scanning and
Advance digital imaging. The organization has already presented the advance imaging and
diagnosis products in a good number of developed as well as developing countries. Considering
the fact that the healthcare equipment manufacturing industry of the western world is getting
saturated due to excessive competition between the competitors, the current beachhead market of
the organization for the advanced imaging and diagnosis products will be Saudi Arabia. The
chosen reusable products for Saudi Arabia are
 Advanced Imaging Angiography
 MRI
 Sliding Gantry CT
 X-Ray Machines
 Dedicated Cardiac System
 Stratus CS 200 Acute Care Diagnostic System
 Stratus CS Acute Care Diagnostic System
 DCA Vantage Analyzer
 Digital Morphology Systems

2BIOMEDICAL INNOVATION & VENTURE CREATION
Considering the fact that the qualities of the advanced imaging and diagnosis equipments offered
by the organization to the consumers are higher compared to its competitors, the healthcare
homes using the equipments manufactured by the Siemens Healthineer company are generally
found to treat patients who belongs to the middle class, upper middle class as well as elite lass of
the society (Barr, 2016). According to researchers, due to increasing cost of imaging products in
healthcare industry, majority of the developed as well as developing healthcare organisations it is
expecting better product in lower cost. Therefore, by the year 2020, the total addressable market
of the advance imaging devices manufactured by Siemens will be more than 12.3 billion dollars
(Cooper, 2017).

3BIOMEDICAL INNOVATION & VENTURE CREATION
Reference:
Barr, D. A. (2016). Introduction to US Health Policy: the organization, financing, and delivery
of health care in America. JHU Press.
Cooper, A. C. (2017). Networks, alliances, and entrepreneurship. Strategic Entrepreneurship:
creating a new mindset, 201-222.