Essay Mdeical Device Markets and Industry

Essay Mdeical Device Markets and Industry

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Since the world medical device markets have been growing rapidly, the medical device manufacturing has been becoming an emerging industry with good prospect. According to the analysis of Chinese medical product industry, the global sales revenue of medical products has grew from 187 billion USD in 2001 to 355.3 billion USD in 2009, of which the growth rate has exceeded the global GDP’s. Over the past two decades, China has had a massive impact on the medical products market due to the open-door of the market supply for China. As the emerging hi-tech manufacturer, Chinese brand medical products have been gradually accepted by the international markets for their emerging new technology and better quality. China plays a more and more significant role in the international medical products market. This development attributes to the internationalization of the Chinese medical products industry that involved the integration of the Chinese domestic market into the international markets.

The latest figures show that the medical apparatus manufacturing has been shifting to China, China is expected to be the world manufacture of medical apparatus. It matches the reforming point of Chinese industry, which is developing from labor demanding manufacturing to technology and innovation-oriented areas. The figures in analysis of Chinese medical product industry show that the export of Chinese medical products succeeded in trade surplus from the year 2005, which contributes tremendously to the overall Chinese export revenue.

In many cases, motivation to gain access to industrialized markets and to gain access to superior technology, management resources and knowledge are the most driving factors of the Chinese medical pro...

... middle of paper ...

...process, such as tariff barrier, complicated registration for permission of entering market. Chinese medical devices industry has been developing rapidly in recent years, and gained more and more approval in the international markets. However, it’s not the same as other industry’s internationalization process for its higher technology requirement and stricter marketing regulations, and the different kinds of registration for entering markets also attributes much cost to enterprises.
This research will thoroughly identify the motives, barriers of the Chinese medical device industry’s internationalization, and examine the success factors in both the steps of theory building and cases study. As a result, a systematic knowledge for the Chinese medical device industry’s internationalization will be presented to the reader, which will fill the gap in the current research.

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