Med-Tech Industry Entry Strategy Analysis under COVID-19 Impact

Abstract

COVID-19 has been impacting the Med-Tech industry dramatically since the beginning of 2020. Along with the pandemic continuously growing, the demand for major global medical products such as masks and protective clothing has surged. The Med-Tech industry is facing the huge challenge of a lack of production capacity, including raw material, production equipment, production line, professional human resources, and more. It would require not only the operators in the Med-Tech industry to enlarge their productivity, but also new investors from outside. This study focused on the entry strategy analysis of the Med-Tech industry, developing five driving factors, and conducting an opinion survey from three different aspects, including vendors, channels, and end-users, under COVID-19 impact. A total of 99 valid questionnaires were collected. After that, the Importance Accessibility Analysis-Network Relation Map (IAA-NRM) approach was used to verify the importance and implementation priority of the entry strategies. Then, the Decision Making Trial and Evaluation Laboratory (DEMATEL) technique is used to construct the NRM method. The research results showed that there is a common strategic path, from the regulatory system to operation resources and then marketing promotion. In addition, in these three viewpoints, vendors and end-users have similar priorities in terms of industry attributes and barriers to entry.

Determining the Development Strategy and Suited Adoption Paths for the Core Competence of Shared Decision-Making Tasks through the SAA-NRM Approach

“…Several current studies have adopted the DEMATEL technique to evaluate complicated issues, such as user interface analysis [ 55 ], intertwined evaluation in e-learning programs through a hybrid multiple criteria decision making (MCDM) model [ 56 ], building airline safety management system [ 57 ], evaluating value-created systems for science (technology) parks [ 58 ], selecting vehicle telematics system [ 59 ], improving the performance in a matrix organization [ 60 ], evaluation of design delay factors by importance-satisfaction analysis and NRM [ 61 ], selecting the model for digital music service platforms [ 62 ], the analysis of the environmental sustainability challenges in the Indian automobile industry [ 63 ], identifying the sustainable development strategies for industrial tourism via innovation opportunity analysis-NRM approach [ 64 ], determining critical performance criteria for hospital management by the double hierarchy hesitant fuzzy linguistic term sets (DHHFL)—DEMATEL method [ 65 ], the analysis of Med-tech industry entry strategy during pandemic [ 66 ], building the digital transformation strategies for the Med-Tech Enterprises by acquisition-importance analysis-NRM approach [ 67 ], identifying the critical success factors of SDM [ 8 ], investigation of factors impeding the dissemination of medical information standards [ 68 ], assessment of urban sustainable adoption strategies and common suited paths [ 69 ], planning urban revitalization and regional development strategies [ 70 ], analyzing the driving factors of urban music festival tourism and the strategies for service development [ 71 ], exploring the cause of gas explosion accidents by the DEMATEL-ISM method [ 72 ], evaluating the risk analysis of maritime accidents using the DEMATEL and ANP technique [ 73 ], and addressing the classifier selection problem in assistive technology adoption for patients with dementia by integrating the IF-DEMATEL and TOPSIS methods [ 74 ].…”

The Logical Framework of Industry Analysis and Stock Investment

“…These four periods are general descriptions of trends, but they are not applicable to all industries. Under the influence of many other factors, changes in the industry life cycle are more complicated [4].…”

Assessing the Robustness of a Factory Amid the COVID-19 Pandemic: A Fuzzy Collaborative Intelligence Approach

“…x k = phase 2 (3, 4, 5) if x k = phase 3 (4,5,5) if x k = approved for limited or full use where x k is the stage of vaccines developed in the region [74]. 5,5) if x k = very insignificant or demand increased where x k is the shrinkage of demand.…”

“…The COVID-19 pandemic has severely affected many industries, such as tourism, aviation, telemedicine, and catering [ 1 , 2 , 3 , 4 , 5 ], and manufacturing was no exception. Factories all over the world were, to varying degrees, affected by the COVID-19 pandemic.…”