MMSL 2014, 83(4):134-144 | DOI: 10.31482/mmsl.2014.024

PORTER'S FIVE FORCES ON MEDICAL DEVICE INDUSTRY IN EUROPEReview article

Petra Marešová1*, Kamil Kuča ORCID...2
1 Department of Economic, Faculty of Informatics and Management, University of Hradec Kralové, Rokitanského 62, 500 03 Hradec Kralové III, Czech Republic
2 Faculty of Informatics and Management, University of Hradec Kralové, Rokitanského 62, 500 03 Hradec Kralové III, Czech Republic

Healthcare is an industry that has a very strong position in economies and a relatively high share of GDP. It also includes the medical device industry. The aim of this paper is to analyse the potential of the market for medical devices in Europe. The starting point is the analysis of the external environment, describing the selected macroeconomic variables affecting aggregate demand and therefore the medical device industry in selected countries. The tool for strategic analysis of the European market is Porter's Five Forces model, where initial information is obtained from the analysis of economic indicators of the given industry, analysis of world databases data, analysis of documents dealing with studies of the medical device industry.The European market can be described as highly competitive, with a large number of small and medium-sized companies, stable innovative activity, which is significantly defined by the regulations by the competent authorities. Globally, this industry is predicted to grow.

Keywords: Medical device industry, Porter's Five Forces, Europe

Received: August 19, 2014; Revised: October 10, 2014; Published: December 5, 2014  Show citation

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Marešová, P., & Kuča, K. (2014). PORTER'S FIVE FORCES ON MEDICAL DEVICE INDUSTRY IN EUROPE. MMSL, 83(4), 134-144. doi: 10.31482/mmsl.2014.024
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