Development Strategy Study Of BM Group Medical Cable Division

In the medical device market,the medical device industry in developed countries has developed earlier,and the medical device products of foreign big brands have a great market share.Compared with developed countries,China’s medical device industry started late.Although some small devices have gradually completed the domestic substitution,the localization rate of large and medium-sized medical devices with high technology is still very low.However,with the improvement of domestic technology level,the enhancement of R&D and innovation ability,and the improvement of raw material supply chain,the domestic medical device industry is developing vigorously in the direction of "domestic substitution" and "high-end medical devices".The CAGR(compound annual growth rate)of the market demand of China’s ultrasound diagnostic equipment and endoscope significantly exceeds that of global medical device.At the same time,the domestic medical device field has also bred many new medical device products,such as intravascular ultrasound,endoscopic ultrasound,etc..With the improvement of domestic economic level,the domestic demand for medical devices is also increasing.And with the improvement of national education level,people pay more attention to health,and the demand for medical checkups increases,driving the upgrade of medical consumption.With the aging of China’s population,the demand for medical devices will also be expanded as the population grows older while getting richer.The medical device industry is undoubtedly a sunrise industry.All companies in this sunrise industry are trying to find the best way to develop.The main products of BM Group’s Medical Cable Division are cables and cable assemblies for ultrasonic diagnostic equipment probes.With excellent technology and outstanding quality in the product field,BM Group is a world-renowned supplier of ultrasonic diagnostic equipment probe cables and cable assemblies and has a high market share in the field of ultrasonic diagnostic equipment probe cables and cable assemblies for a long time.The life cycle of ultrasonic diagnostic equipment is long,so the replacement is slow.In the field of ultrasonic diagnostic equipment,it is said that "after developing a project,you can relax for seven years".However,in recent years,as domestic companies break the technical barriers of ultrasonic diagnostic equipment probe cables,the competition in the field of ultrasonic diagnostic equipment probe cables has gradually increased.If BM Group’s medical cable division had focused on only one kind of the products in the medical field,the business risk of the division would have been significant.Therefore,the time has come for BM Group’s Medical Cables Division to plan for a new direction of development.This thesis analyzed the macro environment in which medical devices are located by using PEST analysis;analyzed the market demand for medical devices,especially ultrasonic diagnostic devices,endoscopic devices,and intravascular ultrasound devices;analyzed the industrial environment for medical devices by using Porter’s five forces model analysis;and analyzed the internal conditions of BM Group’s Medical Cable Division.Combining the opportunities and threats of the external macro environment,market demand,and the industrial environment,as well as the strengths and weaknesses of the internal conditions,this thesis used the SWOT analysis to position the development goals of BM Group’s Medical Cable Division.Using the Mc Kinsey matrix analysis,this thesis identified the development direction of BM Group’s Medical Cable Division in terms of business diversification and business value chain extension,as well as determined the products to be developed in key areas.Two main tasks were positioned: new product and technology development,capacity enhancement and component production automation.Finally,in accordance with the development strategy requirements,the existing resources will be reallocated,new investments will be added,new products will be developed for new markets,and the targets set by the Group will be reached to seek the sustainable survival and development of the Medical Cables Division.