Effects of medical device legislation on innovation within Australian manufacturing companies

Svistounov, Alexander; Kestell, Colin; Adams, Karen; Munday, K.

doi:10.5172/impp.2007.9.3-4.343

Cited by 2 publications

(2 citation statements)

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“…Research on medical devices mainly takes a micro perspective and examines the technological innovation and enterprise efficiency of medical device companies using tools such as case analysis, data envelopment analysis (DEA), and questionnaire survey (10)(11)(12)(13). Some studies have also been conducted from the perspective of the industry by investigating the current regulation status, innovation, regulation mechanisms, technical standards, and industry development of medical devices (14)(15)(16)(17)(18)(19)(20).…”

Section: Theoretical Basismentioning

confidence: 99%

Global Trade Pattern of Medical Devices and China's Trade Position: Based on Data From 2001 to 2020

Hao

Wang²,

Zhou³

et al. 2022

Front. Public Health

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To depict the evolution of the global trade of medical devices, this study analyzes the spatiotemporal evolution characteristics of global and China's trade patterns of medical devices from 2001 to 2020 based on data from the World Bank and United Nations Commodity Trade Statistics Database, and thereby investigates the status quo of global and China's medical device trade, as well as changes in China's position in the global medical device trade. The findings are as follows. First, the total global trade volume of medical devices is generally on the rise, showing closer network connections. Despite some changes in trade position, the core countries in the global medical device trade network are relatively fixed. The intermediate position of core trading countries has been weakened on the whole, whereas exporting countries have generally assumed an enhanced central position. Communities with geographical proximity have been formed in the global medical device trade network, including two large communities, the Asian-European countries and the Pacific Rim countries, and one small community, the South American countries. Second, with its rapidly growing trade volume of medical devices with other countries, China has now become the fourth largest medical device trading country in the world. Its number of import and export partners has remained relatively stable and continued to increase. Its export markets are relatively concentrated, and a tripartite pattern of import sources has been formed. China has established extensive interdependent relations and almost no one-way dependent relations in the medical device trade. Among its major trading partners for medical devices, the interdependence of China with developed countries/regions, such as European and American countries and Japan, has generally deepened.

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Section: Theoretical Basismentioning

confidence: 99%

Global Trade Pattern of Medical Devices and China's Trade Position: Based on Data From 2001 to 2020

Hao

Wang²,

Zhou³

et al. 2022

Front. Public Health

View full text Add to dashboard Cite

show abstract

“…More recently, anticipated drug-safety regulations from the FDA could double the annual cost of clinical testing, reducing research and development (R & D) investment that leads to breakthrough therapies (Shelby, Califf, and Schulman 2006). Medical device manufacturers surveyed in Australia expect that planned regulations relating to product quality will increase costs and the delivery time of new products to the market (Svistounov et al 2007).…”

Section: Hypothesis 1ementioning

confidence: 99%

Market Responsiveness to Societal Interests

Gonzalez-Padron

Nason

2009

Journal of Macromarketing

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The authors provide evidence that firms can enhance their own objectives by internalizing the objectives of most stakeholder groups. This suggests that society’s objectives, as defined by stakeholders to the firm, can be augmented by the self-interest motivation at the heart of a market system. Specifically examined was the impact of stakeholder responsiveness on innovativeness. The second objective of this study was to explore the impact of compliance-based versus strategic-based regulation approaches on firm innovation and overall corporate social responsibility (CSR). Findings suggest that regulatory responsiveness decreases innovation when firms expend resources only on compliance. Firms adopting strategic-based approaches, such as voluntary regulatory programs and collaborative strategies between the firm and government, however, are more innovative and demonstrate greater CSR. This study presents empirical tests that provide a strong first step in understanding how society’s goals can be further internalized into the engine of the market system. The implication is that both firms and regulators can find areas of win—win, with society as the beneficiary.

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Effects of medical device legislation on innovation within Australian manufacturing companies

Cited by 2 publications

References 0 publications

Global Trade Pattern of Medical Devices and China's Trade Position: Based on Data From 2001 to 2020

Global Trade Pattern of Medical Devices and China's Trade Position: Based on Data From 2001 to 2020

Market Responsiveness to Societal Interests

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