Essay Competitive Advantages Of The Medical Devices

809 Words Jun 2nd, 2015 4 Pages
In analyzing the competitive advantages of the medical devices industry in Australia, not only should we focus on the internal factors but we should also pay attention on the external factors that create competitive advantages. By looking at the related and supporting industries and firm strategy, structure and rivalry, we can obtain a boarder image of the strengths of this industry.
Related and Supporting Industries
The related and supporting industries create a mutual influence relationship with the medical devices industry. Owing to this relationship, these industries are therefore upgrading by obtaining an effective utilization. First, the Research and Development Institution provides new ideas and trends for the next level of Australian medical devices. As a world-class medical researcher, Australia hires the multinational research companies such as Cook Medical, GE Health, Medtronic and Baxter Healthcare to undertake the investigation. Apart from having such strong army for backup, Victoria’s Collaborative Research Centers (CRCs) is set up for joint project between researchers and industry (Victorian Government, 2013). There are more than 34000 medical devices are listed on the Therapeutic Goods Register and new ideas such as Invetch, Hydrix are also introduced to the devices industry (Victorian Government, 2013). R & D, therefore, facilitates medical devices industry by providing new opportunities. Second, medical industry is an indispensible industry for medical…

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