Research On The Development Strategy Of Mindray Medical

As the leading corporation of medical device in China,Mindray Medical has been focusing on improving the level of research,and manufacturing first-class equipment since its establishment,making great contributions to the development of China’s medical device industry.However,the sudden attack of COVID-2019 not only caused a huge impact on China’s economic development,but also fully exposed many problems in the development process of Mindray Medical,including low added value of its products,few high-end products and low overall R&D efficiency.Under the new opportunities,it is necessary to further improve the development strategy of Mindray Medical in view of the new environment and the new trend it is facing,to ensure that the company seize the new opportunities,achieve leapfrog development,and become the leading high-end medical device giant in the world.This paper firstly introduces and analyzes the development of medical device industry at home and abroad.Through porter’s five forces competition model,it is found that Mindray Medical’s main threat is reflected in its comparative disadvantage with foreign competitors.In order to improve its international competitiveness,it needs to learn advanced experience from foreign countries to make up for the deficiency.Then,through the comparison with international medical device giants,the relative shortcomings of Mindray Medical are determined,namely,the shortcomings in product upgrading,overseas expansion and improvement of r&d efficiency.Finally,in order to effectively respond to the new trend of the medical device industry and solve the above problems restricting the development of the company,this paper combined the industry environment and the experience of foreign medical device giants,from the perspective of product,sales,research and development for Mindray Medical development strategy to improve measures.The strategy focuses on the high-end medical device market,and strives to expand the high-end market share and improve the company’s international competitiveness through r&d investment and marketing system construction.At the same time,in order to ensure the smooth implementation of the company’s strategy,this paper also formulated the corresponding safeguard measures from the perspective of internal governance,talent team building,financing channels and risk control.ance,talent team building,financing channels and risk control.In this paper,the combination of external environment analysis and internal competitiveness analysis,the environment of China’s medical device industry,market situation and characteristics are introduced,a more complete description of the industry development background,so as to help enterprises forecast the overall development trend of the industry.In addition,through the study of Mindray medical development strategy,we can give some enlightenment to other domestic medical device enterprises.