-
Essay / Medical Device Industry Rating - 1871
Medical institutions purchase many expensive medical instruments, including scanning devices used in patient treatment. Although some products are sold in intense product markets, sellers of more specific devices operate in oligopolistic markets with very few competitors. In these industries, not all buyers pay the same price to a merchant for a given or comparative item. Buyers may not know the costs paid by different buyers. A significant part of the advertising system does not correspond to the representation of an intense market in aggressive equilibrium, with the “law of one price”, the value being determined at the minimum long-term cost and the benefits limited to the targeted level. control of medical device activities arises from patent security and restrained rivalry. In any case, unit manufacturers do not set a single value, reflecting their commercial power, and do not offer all buyers a uniform price. Dealers often charge some buyers more than others. Some unit sellers have gone further than simple segregation of values and drafted contracts with agreements that could be seen as preventing buyers from revealing the final agreed price to different buyers, or even to patients or insurers. In this final segment of economic analysis, we evaluate the medical device industry as a whole against the expected growth of the Accuray, Inc. Figure. Analysis of the medical products market in the United States in 2012 Reference: Espicom (2012); Industrial Technology Research Institute (ITRI), organized by IEK (2012/08) The medical device industry is profitable and has grown despite the recent recession. Its 1,494 establishments employ nearly ...... middle of paper ......ts with a total margin of 31.3% for the similar period of the previous financial year. Thus, is expected to continue to show moderate growth compared to the macroeconomic medical device industry as a whole and develop more domestic and international market shares. Works CitedGrassley, Specter Introduce Transparency in Medical Device Pricing Act,” Press Release, October 23, 2007, LR Burns and JA Lee, “Hospital Purchasing Alliances: Utilization, Services, and Performance,” Health Care Management Review 33, no. . 3 (2008)Scannell and Bedell, “Orthopedics”; and M. Hsu and F. Wise, “Orthopedics: Unique Market Dynamics Drive Steady Growth” (New York: Bear Stearns, May 2004). TJ Philipson and AB Jena, “Who Benefits from New Medical Technologies? Estimates of Consumer and Producer Surpluses for HIV/AIDS Drugs,” Forum for Health Economics and Policy 9, no. 2 (2006).