The Patient Monitoring Equipment Industry in USA

Published: 2021-09-29 22:05:11
essay essay

Category: Health Care, History of The United States

Type of paper: Essay

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The patient monitoring equipment industry first emerged and developed in the United States due to several reasons reflecting the determinants. The most important are the demand conditions, factor creation and related and supporting industries. The most advanced medical research led by the United States is the driving force behind many new monitoring products.
The United States is also the early center of the electrical and electronics industry. This combination has led to a shift in technology and a growing ranks of American electrical engineers. These developments have created a favorable environment for start-ups and encouraged many new entrants. A large number of contestants created new niches and led to positive competition. The United States also has a strong position in related industries, such as computers, test and measurement equipment, which have spawned other entrants (such as HP). The development of American industry and its rise as a world leader benefit from early and complex US demand, as well as active domestic competition. Compared to markets in other countries, the US market is more likely to accept innovation in most market segments. Many independent US hospitals and researchers have made independent purchasing decisions and have a history of less cost pressures. The US’s leading position in key supplier industries has also stimulated continuous innovation. In the 1950s and 1960s, US companies dominated the semiconductor industry, and US companies still dominated microprocessors.Equally important is the leadership of US companies in computers and software. American companies are early international competitors in the field of monitors. Initially, they entered the country through the internationalization of US demand through the research community and doctors trained in the United States. Later, the saturation of the domestic market, coupled with the aggressive domestic market competition, led to increased exports. Subsequent overseas manufacturing helps to penetrate foreign markets.
The United States represents a system that creates and maintains strengths in this industry (and various other medical-related industries) that are unparalleled. Siemens is the only truly successful foreign company, but only by moving its effective home run to the US can Siemens gain a place. American companies have always been their source Driven by complex buyers, world-class supplier industries, domestic competition and substantial investment in factor creation (especially medical knowledge and professionals), innovation in almost all industries has been promoted. However, the US position is not without challenges: for example, American companies are distracted and frustrated by repeated acquisitions. As with the German press industry, integration may ultimately undermine the ability of a group of dynamic competitors to innovate. Due in part to product liability issues, US demand conditions are expected to be less in areas such as telemetry and closed-loop systems.
Cost pressures also make the US market more like a foreign market. Japanese competitors, with strong domestic electronics clusters and production standardization skills, may become increasingly serious. However, as long as US health care spending remains unique, US health care systems remain the most vulnerable to competitive pressures. The factors that make it difficult to foresee a major shift in international leadership in advanced surveillance.

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