Chapters Transcript Video Justin Leong – President, Asian and Latin America ResMed’s strategy is driving accelerated market growth in Asia Pacific and Latin America. everyone. My name is Justin leo and I'm president of Residents business in Asia and Latin America. Okay, we're really excited today to touch on board topic firstly, what is the market opportunity in this part of the world, secondly, why is the market still relatively untapped? And what are we doing to really unlock this market? Certainly more specifically what some of the trends in these markets and what are some of the strategies were employing to take advantage of these trends importantly, how is the execution of this strategy going and how do we see the outlook from now? So firstly Around 70% of the world's population is in Asia and Latin America. And if you think about the prevalence of sleep apnea, it's actually pretty similar to the rest of the world. So what that means is there are hundreds of millions of people with undiagnosed and untreated sleep up there. More than 90 of the Kremlin population is still there to be helped. That's a huge opportunity. Baroque, when you think about few beauty over 70% of the world CVD patients or sufferers are in china and India alone and that's because of the high rates of smoking in both of those two countries and the terrible pollution. Both those things contribute to high prevalence syria unique. But these are markets where we think there's huge opportunity to continue, were already growing bust in these markets. We are the market leader but there's still a huge potential for a while. These markets still relatively undeveloped compared to the US and europe. Well apart from countries like Japan Korea. Australia. These are wealthy or developed countries, most of the other countries in this region are still emerging and they have very basic healthcare system. Most of the position community in the in these countries are not focused on our disease areas are sleep disorders. I think you don't see every day, They're more focused on the war. Complete problems in in the 2015 health problems. These emerging markets don't have enough money to reinvest therapies like we know. So these are cash pay markets and therefore the business models that we need to employ in these cash pay or patient pain markets are quite different to what we need, what we do successfully in reimburse park. It just transplanting business models from reimbursed when the western markets to these markets in the more emerging doesn't really work well. What does work well though our our therapies and products, our market leading see perhaps and ventilators were perfectly well on patients in asia latin America. What we need to think about is the go to market strategy, how does that do that? How does the business follow up in these markets in order to fully penetrate them? Basically, we need to find new ways to identify patients, engage them diagnose and treat them and manage them on therapy. That's what I really want. Our resident team in this market is injury in the last several years. What are some of the trends in these markets that we can really take advantage of firstly there is the writing consumer middle class in management that time people are increasingly spending and caring about their health and wellness and sleep in particular. He's a big trend that people are thinking about and it's not just the length of sleep, but it's the quality is like that people really realize is important as well as your fitness and your reading habits. It's the triumvirate of health that we talked about and we try and find a real positive message in these markets and if you sleep well and you breathe well, you will be your best self. We have a time when you awaken your best self and we think there's a positive message will really resonate in these communities where consumerism and lifestyle are increasingly important. These countries are also highly digitally savvy in china, you have a huge e commerce market in India, you have an extremely high mobile penetration as well as the other Southeast asian countries also that term. So we think by employing digital technology to find and reach consumers and patients, we think we can be really successful in opening lead marketer. So what is this that after. In terms of a strategy we're trying to leverage these trends of rising consumer middle class digitally savvy consumers. So it remains what we call and and digital digitally enabled patient pathways to find and treat more patients that want to sleep and I will breathe back, we've got several examples exist of this already. So in terms of how we're executing this so in Australia and India now in china we have created these enter and pathways where through digital marketing, social media we're out there finding patients, we are getting them diagnosed using the latest technology, latest home sleep testing devices which are consumer friendly, connected to the cloud and to mobile apps extremely easy to use and affordable most importantly. And then we are enabling people to trial out of ice to get set up on our devices and then to be managed without ever seeing them face to face. So we call this a pure virtual model of digital model and during covid this was particularly important because people were not able to see their doctor, they were not able to visit the hospital but we were able to get patients from right from the beginning when they first think they have a problem with these people reading through the diagnostic phase, the trial phase, the fed up days and then being on therapy without seeing anyone face to face purely using digital tools, self managing your way on the therapy and we think this is the future particularly in these emerging markets but also potentially and later on in other countries around the world we think by creating these enter n journeys that we can really expand these markets accelerate growth and help potentially hundreds of millions of people sleeve and read better in these informants office. We think that through bolt on acquisitions which were done recently in Korea and also in Australia New Zealand we can enhance our service operates to offer more and more services to patients. We call it sleep as a service. Uh huh We can't do everything alone. So these countries are huge, particularly china and India millions of people. So we also have uh rely on our channel partners that expand our reach into more remote areas uh, into all the different cities. So through both online and offline through our offline distributors, there are online e collars through our online virtual pathway. We can really extend our reach into these countries that offer uh life saving garvey's to the people that need it. I hope that gives you will get a red playing now for market opportunity in our strategy and how we're performing in these markets. We're growing quickly. We think we can grow even faster. And I want to really want to thank uh Probably 700 people raise millions that work in Asia and latin America for all the hard work they're doing to treat our vision and to help people in this part of the world sleep and breathe better and awaken the next Published September 7, 2021 Created by
