Research On Mindray’s International Strategy And Performance Evaluation

The medical device industry and people’s health are closly bounded up.The demands of medical devices have been increasing since global population aging trend deepens and the awareness of keeping healthy enhances and the technical level is improved.As a technology-intensive industry featuring in multi-subject crossing and combination,the medical device industry has relatively higher entry barriers and its products have a long life cycle.The enterprises from Europe,America and Japan start earlier,and with technology accumulation and the expand of market,these enterprises have taken possession in the global market of medical devices.As the leading of national policies,the medical device companies have developed positively and rapidly,but there is no denying that they are in smaller scale and lower concertration of industry,apart from lower technical level.In addition,the outbreak and spread of COVID-19 pedemic have been challenges as well as chances to global economy and society,which means that it has provided with massive market and opportunities of deepen development in terms of exposed shortcomings of the global health care field.Given the overall background,I choose Shenzhen Mindray Bio-Medical Electronics Co.,Ltd is to analyse the international starategies and performance evaluation.As the largest corporation in China in medical device industry,the company targets the international market from the beginning,when it has been going into the international market,the company has taken much into consideration,such as its own advantages and disadvantages,the internal and external developing environment.And then it has made efficient international strategies.To be specific,as for target market,it enters low-end and medium-end market first and then go into high-end market;as for entry strategy,the Mindray begins with agents and engages in mergers and acquisitions home and abroad,aiming at expanding the products of three main businesses or increasing business lines.With about thirty-year development,the Mindray has established excellent research and devolopment system,advanced manufacturing system and favorable after-sales service system.Faced with the COVID-19,the company has responded efficiently,the accumulation of technology and experiences have helped Mindray become the first company of connected hospitals home and abroad online.The company has delivered essential devices to global hospitals and organizations with effective manufacture and deployment ability,which has provided global clients with comprehensive service on the premise of prices unchanged.These behaviors have increased the global influence of the brand and accelerated international process.This essay uses N elements cobweb model for internationalization to evaluate the Mindray’s degree of internationalization.Because of worldwide horizons,transnational operations and global talent layout,the Mindray has a reletively higher degree of internationalization.It can expand the range of local international strategy and optism the use of intangible assets and dig into segenmentation to enhance its degree of internationalization.Based on the reasults,together with the persistent inflluence of COVID-19,the demands of global health care field will expand,the Mindray should increase the input of research and development,and grasp and expand high-end clients steadily.As for opening up new markets,the company should try to enter into emerging markets like countries along The One Belt,One Road with its advantage of lower costs.As the leading corporation in China,it should also promote the construction of platform by aiming at global giants and boosting information integration capability.In the end,the Mindray has provided other Chinese medical device corporations with some precious experiences,including the choice and entry of target markets and the establishment of technology and service system.So Chinese medical device corporations are supposed to base on the technology and work out international strategy according to their own needs,then make a big difference in global medical device sectors.