Exploring the Medical Device Industry: A Historical Approach of Medison’s Competitive Growth Strategy

서지정보

· 발행기관 : 연세대학교 동서문제연구원
· 수록지 정보 : 동서연구 / 28권 / 2호 / 5 ~ 29페이지
· 저자명 : 고영경, 박영렬

초록

The purpose of this study is to explore and introduce fundamentals of the medical device industry and historically assess the competitive growth strategy of Medison. Medison is one of the leading ultrasonic diagnostic device manufacturers in the global market. With the spirit of 'challenging the world with technology' through continuous investment in R&D, the company envisioned a global market expansion into medical devices as a late contender from a developing economy. Medison was one of the pioneering Korean venture companies, established in 1985, and merged with Samsung in 2011.
We generally analyze the external environment of Medison by delving into global medical device industry and market circumstances. Specifically, ramification of ultrasound system industry that Medison possessed its core capabilities is overvied for composite understanding of company growth. The categorization of Medison’s competitive growth stages can be rendered in the following manner: Entrepreneurial stage and international market entry (1985-1989), Leapfrogging (1990-1994), Growth (1995-1999), Stagnation and Recovery (2000-2010), and Confronting Samsung for Further Expansion (2011-). In detail, our research follow up specific growth patterns of Medison in the segmented stages.
Business historical assessment of the company and competitive environment through this case study can offer synthetical understanding of how Medison dealt with its global business environment.

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