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.