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  • Essay / Medical Device Markets and Industry - 2816

    Rationale/IntroductionAs global medical device markets are growing rapidly, medical device manufacturing has become an emerging industry with good prospects. According to the analysis of China's medical products industry, the global revenue of medical products increased from $187 billion in 2001 to $355.3 billion in 2009, the growth rate of which exceeded that of the World GDP. Over the past two decades, China has had a massive impact on the medical products market due to opening up its supply to the Chinese market. As an emerging high-tech manufacturer, Chinese brand medical products have been gradually accepted by international markets for their new emerging technology and better quality. China plays an increasingly important role in the international medical products market. This development is due to the internationalization of the Chinese medical products industry which has involved the integration of the Chinese domestic market into international markets. The latest figures show that medical device manufacturing has shifted to China, and China is expected to become the world's manufacturer of medical products. medical device. This corresponds to the reform point of China's industry, which is evolving from a labor-intensive manufacturing sector to areas focused on technology and innovation. Figures from the analysis of China's medical products industry show that the export of Chinese medical products generated a trade surplus compared to the year 2005, which contributes enormously to the overall Chinese export revenue. In many cases, the motivation to enter industrialized markets and gain access to superior technology, management resources and knowledge are the most determining factors in the Chinese medical process...... middle of paper ......processes, such as tariff barriers, complicated registration for authorization to enter the market. China's medical device industry has developed rapidly in recent years and won more and more approval in international markets. However, it is not the same as the internationalization process of other industries due to their higher technological requirements and stricter marketing regulations, and the different types of registration to enter the markets attribute also a lot of costs to businesses. This research will deeply identify the motivations and obstacles of the Chinese medical sector. internationalization of the device industry and examine the success factors in the theory development and case study stages. As a result, a systematic knowledge of the internationalization of China's medical device industry will be introduced to the reader, which will fill the gaps in current research..