Market Development for small businesses in the USA Dissertation

Market Development for small businesses in the USA - Dissertation Example Medical instrument industry is a significant component of an entire health care system. The proposal has started with a background analysis where the entire medical equipment market has been discussed. It is quite important to understand the market itself before entering into a specific market. In the later segments the research methodology would be discussed with research objectives. A brief discussion of the supporting theories has been also provided in this research proposal. Background and Academic Analysis The Medical Equipment Market in USA The medical and dental instrument industry in USA is diverse in nature and technologically dynamic in its operation. The medical devices come up in an extensive range of products used in the health care. The devices can range from mere tongue depressors to some extremely sophisticated diagnostic devices. The US medical and dental apparatus and supplies industry can be segmented in five different products segments including surgical appliance s and supplies, surgical and medical instruments, dental equipment and supplies, electromedical equipments, x-ray apparatus and tubes (AASBEA, n.d., p.1-2). The products of this industry are articulated as follows. Surgical instruments such as clamps, syringes, suture needles and hypodermic, laparoscopic devices, stethoscopes, catheters and blood pressure measuring devices. Appliances such as wheelchairs, bandages, implantable devices and prosthetics. Dental equipments such as hand instruments, drills, plaster, cements, amalgams, dental chairs and sterilizers. X-ray tools and tubes. Electromedical apparatus like patient monitoring equipments, pacemakers etc. Diagnostic tools like ultrasonic scanning instruments, magnetic resonance imaging equipment. Ophthalmic goods like sunglasses, contact lenses and eye-glasses (Shippey, 1995, p.149). The growth of this industry would depend on the expenditures in national health care including the expense to come up with new regulatory norms to e nsure effectiveness and safety in the instruments and appliances. Even the changes in the insurance coverage drive the growth in the medical instrument and appliances market. It is pretty significant to analyse the macro environment of the players operating in this specific industry. The macro environmental driving forces are determining forces to shape up the company’s strategies to place itself in the market. Macro Environment Analysis – PESTLE Analysis Political and Legal Environment – The medical instrument industry in US is governed by several regulatory norms; some of them have been quite influential to the industry itself. Such a norm, 1990 Safe Medical Devices Act, redefined the processes to bring in medical instruments to the respective market. This norm was established to ensure the safety and effectiveness of the products pouring into the market. For an instance, manufacturer of certain medical instruments must include the safety and effectiveness dat a in the premarket notification applications. As per the law, the high risk apparatus which had been introduced after the year 1990 are required to have post market surveillanc