DISPOSABLE SYRINGE AND MEDICAL PLASTIC PRODUCTION BUSINESS PLAN

TABLE OF CONTENTS

 

EXECUTIVE SUMMARY

1.0    Business Overview

1.1    Problem Statement

1.2    Vision Statement

1.3    Mission Statement

1.4    Core Values

1.5    Products to Be Manufactured

1.6    Target Market

1.7    Competitive Advantage

1.8    Business Location and Rationale

1.9    Required Regulatory Compliance

1.10 Startup Cost Summary

1.11 Financial Projection Summary (First 5 Years)

1.12 Funding Requirement

1.13 Key Success Factors

 

2.0    Company Description

2.1    Business Name

2.2    Business Location

2.3    Nature of Business

2.4    Vision Statement

2.5    Mission Statement

2.6    Core Values

2.7    Products Portfolio

2.8    Business Objectives

 

3.0    Business Environment Analysis

3.1    Overview of the Medical Plastics Industry in Nigeria

3.2    Opportunities in the Sector

3.3    Regulatory Environment

3.4    SWOT Analysis

3.5    Industry Competition

 

4.0    Market Analysis

4.1    Overview of the Nigerian Medical Consumables Market

4.2    Target Market Segments

4.3    Market Size Estimate (Lagos State)

4.4    Competitor Analysis

4.5    Market Trends

 

5.0    Marketing Strategy

5.1    Product Strategy

5.2    Pricing Strategy

5.3    Distribution Channel Strategy

5.4    Promotion Strategy

5.5    Sales Strategy

5.6    Market Penetration Strategy

5.7    Growth Strategy (Years 2–5)

 

6.0    Overview of Production Operations

6.1    Production Capacity

6.2    Production Process Flow

6.3    Production Facility Layout (Word-Friendly Text Format)

6.4    Machinery & Equipment Required

6.5    Utilities Required

6.6    Production Staffing Requirements

6.7    Regulatory & Technical Compliance

6.8    Estimated Project Timeline

 

7.0    Financial Plan

7.1    Start-up Capital Requirement

7.2    Operating Expenses (OPEX) — Year 1

7.3    Revenue Projection (5 Years)

7.4    Profit & Loss Projection

7.5    Break-Even Analysis

7.6    5-Year Return on Investment (ROI)

7.7    Financial Sustainability Strategies

 

8.0    Risk Analysis, Mitigation & Management Structure

8.1    Major Risks & Mitigation Measures

8.2    Overall Risk Rating

 

9.0    Sustainability Strategy

9.1    Financial Sustainability

9.2    Environmental Sustainability

9.3    Social & Human Capital Sustainability

 

10.0 Exit Strategy

10.1 Exit Options

10.2 Conditions That Maximize Exit Value

10.3 Optional Succession Plan

 

 

 

 

 

EXECUTIVE SUMMARY

 

1.0 Business Overview

Medisure Syringe & Plastics Manufacturing Ltd. is a proposed medium-scale manufacturing company specializing in the production of high-quality sterile disposable syringes and essential medical plastic consumables such as IV cannula components, urine bags, needle caps, catheter parts, and medical-grade plastic packaging.

The factory is proposed to be located in Ojo Industrial Layout, Lagos State, strategically positioned to serve hospitals, clinics, pharmacies, NGOs, wholesalers, government health programs, and private distributors across Nigeria and West Africa. The business aims to reduce Nigeria’s overdependence on imported syringes from China, India, and Europe by establishing a locally compliant manufacturing plant that meets NAFDAC, SON, ISO 13485, and WHO Good Manufacturing Practices (GMP) standards.

The business will adopt advanced injection molding technology, automatic assembling machines, ethylene oxide (ETO) sterilization chambers, and clean-room production environments to ensure the highest global quality standards.

1.1 Problem Statement

Nigeria consumes more than 1.7 billion syringes annually, yet over 90% are imported due to limited domestic production capacity. This heavy reliance exposes the nation’s healthcare system to:

·       Supply disruptions

·       High cost due to foreign exchange fluctuations

·       Counterfeit and substandard syringes entering the market

·       Inconsistent availability for immunization and emergency care

·       High import duties and logistics delays

Medisure Syringe & Plastics Manufacturing Ltd. aims to close this gap by providing locally manufactured, affordable, high-quality syringes that comply with international medical standards.

1.2 Vision Statement

To become Nigeria’s leading and most trusted manufacturer of disposable syringes and medical plastic consumables, delivering superior quality products that enhance healthcare delivery across Africa.

1.3 Mission Statement

·       To produce globally certified, safe, sterile, and reliable medical consumables.

·       To reduce Nigeria’s dependence on imported medical plastics.

·       To support national healthcare programs and immunization campaigns.

·       To create employment opportunities for skilled and semi-skilled workers in Lagos State.

·       To adopt environmentally responsible and sustainable production processes.

 1.4 Core Values

·       Quality & Safety: Zero tolerance for contamination or substandard production.

·       Integrity: Ethical operations and transparent business practices.

·       Innovation: Continuous improvement and adoption of world-class technologies.

·       Reliability: Consistent product availability and timely delivery.

·       Customer Focus: Meeting the needs of hospitals, governments, and distributors.

·       Sustainability: Responsible waste management and recycling initiatives.

1.5 Products to Be Manufactured

Medisure Syringe & Plastics Manufacturing Ltd. will manufacture:

Disposable Sterile Syringes

(Each individually sterilized and blister-packaged)

·       1ml insulin syringes

·       2ml disposable syringes

·       5ml disposable syringes

·       10ml disposable syringes

·       20ml disposable syringes

·       50ml disposable syringes

·       Needles (20G, 21G, 22G, 23G, 25G variants)

Medical Plastic Consumables

·       Needle caps

·       Syringe barrels and plungers

·       Urine bag components

·       Catheter connectors

·       IV set drip chamber plastics

·       Blood bag plastic components

·       Laboratory sample containers

·       Medical-grade packaging plastics

These product lines ensure diversified revenue streams and reduce production downtimes.

1.6 Target Market

The company will serve:

1.     Government hospitals & federal medical centers

2.     State and LGU hospitals

3.     Private hospitals and clinics

4.     Medical laboratories

5.     NGOs (WHO, UNICEF, Red Cross, MSF)

6.     Pharmacy chains & distributors

7.     Health insurance/HMO providers

8.     Immunization and vaccine programs

9.     Export markets (ECOWAS region)

1.7 Competitive Advantage

Medisure Syringe & Plastics Manufacturing Ltd. will stand out through:

A. Local Production Advantage

·       Lower cost versus imported syringes

·       Faster delivery to Nigerian buyers

·       No forex dependence or import delays

B. Technical Superiority

·       Fully automated injection molding and assembling

·       ISO 13485 and NAFDAC-compliant sterile operations

·       ETO sterilization for 100% guaranteed product safety

C. Quality Assurance Systems

·       In-house QC laboratory

·       Clean room production (Class 100,000)

·       Batch traceability and serialization

D. Market Position

·       First-mover advantage in Lagos industrial corridor

·       High demand unmet locally

·       Strong distribution partnerships

E. Economies of Scale

Bulk production lowers unit cost, increases margins, and enhances market competitiveness.

1.8 Business Location and Rationale

Ojo Industrial Axis, Lagos State was chosen due to:

·       Proximity to Apapa and Tincan Ports for importation of raw materials

·       Access to skilled labour, logistics, and transportation

·       Access to industrial power supply clusters

·       Closeness to large medical markets like Idumota, Mushin, Onitsha, Kano, and Aba

·       Government incentives for local medical manufacturing

 1.9 Required Regulatory Compliance

The company will comply with:

·       NAFDAC Registration & Licensing

·       SON MANCAP Certification

·       ISO 13485: Medical Device Quality Management

·       Environmental Impact Assessment (EIA)

·       Fire Safety Certification

·       Ministry of Health Industrial Approval

·       Federal Ministry of Labour & Employment Requirements

·       LASPA (Lagos State Safety Agency) Compliance

 1.10 Startup Cost Summary

(Detailed breakdown will be in Batch 8)

Estimated Startup Capital: ₦730 million – ₦1.2 billion
Depending on scale of automation and monthly production capacity.

Major cost components include:

·       Factory building & renovation

·       Injection molding machines

·       Syringe assembly machines

·       Needle manufacturing line

·       ETO sterilization equipment

·       Clean room installation

·       QC laboratory setup

·       Power backup systems (generators, solar hybrid)

·       Raw materials (PP, PE, steel cannula)

·       Licensing and certifications

·       Working capital (6–12 months)

1.11 Financial Projection Summary (First 5 Years)

With a conservative production scale of 12 million syringes annually (1 million per month):

Year 1 Revenue: ≈ ₦1.48 billion

Year 3 Revenue: ≈ ₦2.6 billion

Year 5 Revenue: ≈ ₦4.1 billion

Net Profit Margin (after tax): 24–30%
Break-Even Point: Within 24–30 months
Return on Investment (ROI): 35–55% by Year 3

 1.12 Funding Requirement

Total funding required: ₦850 million
To be sourced through:

·       Owner’s equity

·       Bank loans

·       Development finance (BOI, AfDB, CBN Health Sector Fund)

·       Private investors/partners

·       Equipment financing arrangements

1.13 Key Success Factors

·       High local demand, low domestic supply

·       Strong government support for local medical manufacturing

·       Access to skilled workforce in Lagos

·       High-quality products to replace imports

·       Strong distribution network

·       Strategic partnerships with hospitals and NGOs

 

2.0 Company Description

2.1 Business Name

Mediplast Syringe & Medical Products Ltd.

2.2 Business Location

Proposed site: Odofin Industrial Layout, Ojo LGA, Lagos State, strategically chosen due to:

·       Proximity to the Lagos-Badagry Expressway (for distribution).

·       Access to raw materials from nearby plastics markets (Lagos Island, Ojo, and Alaba).

·       Close proximity to hospitals, clinics, and wholesalers across Lagos.

2.3 Nature of Business

Mediplast Syringe & Medical Products Ltd. will be engaged in the:

·       Manufacture of sterile disposable syringes (2ml, 5ml, 10ml, 20ml sizes).

·       Production of complementary medical plastics, including:

o   IV fluid bottles

o   Urine bags

o   Needle caps

o   Specimen containers

o   Surgical disposables

The business will operate as a small-to-medium scale medical plastic manufacturing plant with initial focus on disposable syringes and gradual expansion to other medical consumables.

2.4 Vision Statement

To become one of Nigeria’s leading producers of high-quality disposable syringes and medical plastic supplies, reducing the nation’s reliance on imported consumables and promoting safer healthcare delivery.

2.5 Mission Statement

To manufacture safe, sterile, affordable, and internationally compliant medical plastics that meet Nigeria’s growing healthcare needs, while maintaining environmental sustainability and operational excellence.

2.6 Core Values

·       Quality

·       Safety

·       Integrity

·       Innovation

·       Regulatory compliance

·       Customer satisfaction

2.7 Products Portfolio

Initially, Mediplast will produce:

1.     Disposable Syringes

o   2ml syringes

o   5ml syringes

o   10ml syringes

o   20ml syringes

o   Each syringe supplied with sterile needle

2.     Medical Plastic Consumables

o   IV bottles (250ml, 500ml, 1L)

o   Urine bags

o   Specimen containers

o   Needle caps

o   Plastic trays

2.8 Business Objectives

·       To produce over 6 million syringes annually by year 3 of operation.

·       To secure supply contracts with at least 25 hospitals and 50 wholesale distributors by year 2.

·       To achieve N800 million annual revenue by year 5.

To maintain 100% compliance with NAFDAC, SON, and ISO9001 quality standards

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