Essay about Companies and Technology in the Medical Field

Essay about Companies and Technology in the Medical Field

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In United States medical care, the instrumentation and supply industry forms a focal unit in ensuring that the field is well equipped to deal with the ever growing medical requirements for both, the people living in and out of the country. Medical device companies produce a massive amount of products used for diagnosing and treating ailments. These incorporate surgical and professional medical instruments, electromedical, and also electrotherapeutic apparatuses, precise appliances and materials, ophthalmic goods, and clinical equipment (Scannell 2004). Demand is influenced by population class and advances into the medical knowledge in addition to technology. The earnings of individual organizations depend on how they are able to develop superior solutions. Large companies possess economies of scale in manufacturing as well as distribution. Tiny companies can contend successfully by devoted to a particular marketplace segment, or via technical innovation. The American industry is centered on the 50 greatest companies accounting for around 60 percent of the total revenue.
Accuray Inc., which is a radiation oncology company, that engages in the development, manufacture and distribution of precise and innovative tumor treatments. The medical field has in the recent times been facing many uncertainties, which have led to the decrement in the investments directed to the medical production industry. Just like other companies, the company has been impacted by the global economic crisis; however, the increase of the medical equipment and supplies business has remained uninfluenced due to the fact that it is an essential sector. Even those marketplaces that are reducing growth in America, there are increases in other countries which ...

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...up. Reliance upon large customers is really a threat to medical field. The amounts of the buyers within the medical equipment and supplies market is actually comparatively low, and the price-to producers involving the loss of one can be significant and leading incumbents will be in competition with the other person to assure sales. As a result buyers get a certain amount of power over other market players because they are many.

Works Cited

Grassley, Specter. (2007). Introduce Transparency in Medical Device Pricing Act.

Hagerty, J. (2012). U.S. Loses Out as R&D Shifts to Asia - Retrieved March 21,

2014, from

Scannell and Bedell, (2004) “Orthopaedics”; and M. Hsu and F. Wise, “Orthopedics: Unique Market Dynamics Drive Steady Growth” New York: Bear Stearns.

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