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Global demand for private luxury yachts has been increasing steadily over the last five years. Marinas are at saturation point in many parts of the Mediterranean as well as the Caribbean with even Egypt expe

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

riencing a rapid rise in Red Sea marina developments. This growth is due to the largest demand for leisure boats ever seen.

Recreational boat ownership is currently a $25 billion international industry and

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ales are growing annually at 5-10%. According to Showboats International, a publication that tracks vessel construction, in 1993 the world had fewer than 700 private owners with boats over 24 metres (79 feet

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

. Today, there are an estimated 7000 yachts over 24 metres (79 feet) in use.

Another indicator of the strong growth of the luxury yacht industry is the potential for 'flipping'. With waiting lists of up to

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

hree years for luxury yachts in the USA and Europe, yacht flipping is becoming a profitable business for entrepreneurs who commission a vessel and sell it before completion.

Why is luxury yacht ownership a

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

nd the trend for yacht charter holidays increasing? There are several reasons.

1. People can live tax-free through 'off shore' residency on a yacht, cruising the world and docking in exotic, exciting locati

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

ns such as Porto Cervo Marina on the Costa Smeralda in Sardinia, Marina Frapa in Croatia, Port d'Hercule in Monte Carlo and Emerald Bay Marina in the Bahamas. Yacht ownership offshore is on a record rise. Sh

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

w Boats International's 2005 Global Order Book indicated that that year's increase was equal to the entire order book rating for 1995. That equates to a $1.2 billion dollar increase in sales.

2. Baby boomer

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

are splurging on travel as a way to enjoy their retirement, wealth, relative youth and to demonstrate that they are still intrepid pathfinders. Many baby boomers already own everything they could want and n

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ow they demand experiences rather than acquisitions. Social marketing research firm DYG's survey of status symbols highlights this. "Travel is the number one non-materialistic way to express success," DYG Pr

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

sident Madelyn Hochstein says, "and for the older set, it is also a way to express continued youth and vitality."

3. Yacht chartering now tops the list of the most popular and most expensive activity for pe

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ple with a net worth of more than US$10 million. In a survey of the spending habits of 198 millionaires by Prince & Associates for Elite Traveler magazine, summer holiday spending in 2007 is up 56% on 2005.

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

n particular, spending on private yacht charters will cost an average of US$384,000 per family this summer with the cost of chartering between $200,000 - $250,000 per week. This is part of an increasing tren

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

d among the wealthy for 'experiential excursions' that offer much more than a typical tourist vacation. As with most trends, what the wealthy are experiencing now the upper middle class will be aspiring to i

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

the coming years. The yachts may not be as large, but they will add yet more demand to the yachting and marina industries already straining to meet the demands of the wealthy. Expect yacht prices and the co

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

t of marina berths to continue to rise.

4. There are at least two dozen Russians now worth at least $1 billion, according to private bankers, and thousands of new Russian multi-millionaires have been create

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

in the past five years. Roman Abramovich, the 11th richest person in the world according to Forbes, epitomises the growing reputation of Russians as the world leaders in conspicuous consumption. The mega we

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

althy Russian has commissioned a new yacht, the Eclipse, being built under a veil of secrecy in Germany, at a cost of around US$300 million. Yacht brokers say at least 20% of the business for new vessels ove

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

200 feet is coming from Russians - more than from any other single country including the USA.

As Mike Kelsey, from the world's leading luxury yacht builders Palmer Johnson in Fort Lauderdale, says, "There

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

re yachts being built for hundreds of millions of dollars and I think we have not hit the ceiling yet. Although, I will say there comes a point when a yacht is no longer a yacht; it is most certainly a ship!

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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If you want to attract more clients - get busy. Because activity attracts. Your busy-ness should include:
Being seen at industry or networking events.
Writing articles that get published – at least in your own newsletter.
Participating in industry meetings.
Participating in web-based discussion groups. Don’t just be a lurker on the list.
Getting out and meeting people, prospects and referral partners.
Having projects that you are working on, even if you are in-between client engagements.
Running surveys to find out more about your market space.
And more...

Ironically enough, guerrilla marketing skills are used both in large corporations and small business. However, even though large corporations have originally grown from small businesses using guerrilla marketing methods, they find the system itself is better suited for the smaller business.

Are you looking for a home in Scottsdale, Arizona? Scottsdale has earned a reputation as an expensive community, one of affluence and sophistication. Unfortunately many people firmly believe that these traits come with a hefty price tag. Although this is often true, you may be surprised by your options.

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