It is a hundred years old and in the pink of health. And for Becton Dickinson and Company "" the $ 2.7 billion US based healthcare conglomerate "" this centenary year is also an occasion to venture into new worlds, expand its operations and grow some more. We are looking at the next ten years, says William A Kozy, president of the company's worldwide Injection Systems division. For we are not just building more market share any more but creating new markets, he adds by way of explanation.
India is one of these new markets. Dramatic changes in the medical care industry is creating new demand for more sophisticated medical supplies and equipment. Kozy "" who's been to India twice in the last 17 months "" sees this as a major driver of growth for his products.
Especially for the high-technology disposable syringes and hypodermic needles which the company will begin manufacturing in Gurgaon (Haryana) soon. There are some 700 million syringes being presently sold in the Indian market "" well below what a healthy market should be consuming.
The average consumption should be about 5 injections per capita per year, says Kozy. Which means "" potentially "" a market for nearly 5 billion needles every year. This huge market is, of course, one of the reasons why Becton Dickinson has spent nearly $ 50 million setting up a state of the art factory. The company expects to sell some 400 million syringes and notch up $8 million in revenues in its first year of operation.
Kozy "" an enthusiastic baseball and golf player "" also sees the India operations growing into a major export base for the region over the next decade.