Strategic Partnership Between Medical Technology Companies and Health Care Service Providers Toward Global Competitiveness

Abstract

The pandemic slowed down most industries globally, but health care maintained its steady growth, and for Pharma, it was a boom. Considering the comparatively better economic condition of India than other developed countries post-COVID-19, and the Russia–Ukraine war, multinational manufacturers of medical equipment companies are focusing on securing the maximum share of wallets from India through partnerships with health care service providers. The study tried to analyze the impact of the strategic key account management (KAM) partnership between multinational medical technology (MedTech) companies and health care service providers, from a global perspective. For the study, primary data were collected through questionnaires survey, and secondary data through a review of literature. The chi-square was tested using IBM SPSS software, and based on the results, three null hypotheses were rejected and one was accepted. Secondary data reveal that the Indian health care sector is highly competitive from a global perspective which can be observed by Nos of Venture Capital (VC) investment in health care, massive growth in medical tourism, and huge investment by international pharmaceutical companies in India. This partnership will help to develop more clinical packages through a clinical trial in India in a cost-effective way which will drastically reduce the manufacturing cost of high-tech medical equipment giving them an edge in global competition and also improving return on investment (ROI) for the partners.

Citation

Samaddar, G. and Bhogal, S.K. (2024), "Strategic Partnership Between Medical Technology Companies and Health Care Service Providers Toward Global Competitiveness", Bhattacharyya, R. and Mazumdar, D. (Ed.) Contemporary Issues in International Trade, Emerald Publishing Limited, Leeds, pp. 291-307. https://doi.org/10.1108/978-1-83797-320-020241019