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Biggest exporter of medicine in world
Biggest exporter of medicine in world




biggest exporter of medicine in world

It is especially important for them to quantify the influence of countries in the international medical device trade, identify highly influential countries and their geographical sphere of influence, analyze the variation in such influence, and explore the key factors involved in influence formation. Therefore, to maintain domestic healthcare systems and preserve the essential medical supply trade flow, it is necessary for government policymakers to understand the complicated global medical device trade system. Recently, to deal with COVID-19, 54 governments have implemented certain export restrictions and trade barriers on medical supplies and medicines, amplifying the uncertainty of the international medical device trade. These factors have placed unprecedented stress on stable global trading systems and trade cooperation. However, the international trading environment has become increasingly complicated as a result of global trade frictions, aggressive unilateral nationalism and trade protectionism. Therefore, medical devices are a crucial part of patient care. The global demand for medical devices is increasing as aging populations emerge worldwide and as life expectancy increases. The ongoing global coronavirus disease 2019 (COVID-19) pandemic has given rise to an unprecedented global health crisis and highlighted the significance of the international medical device trade, which has grown steadily over the last three decades, with most countries relying on imports. The findings of this study provide implications for policymakers seeking to understand the influence of countries on the international medical device trade and to proactively prepare responses to unexpected changes in this trade. In addition, some countries play a critical role as intermediate points in the influence formation process of other countries, although these countries are not critical direct trading partners. It is worth noting that the US has a dominant position in the international medical device trade in terms of both breadth and depth. The formation of some countries’ strong influence may be due to their large number of trading partners or the deep dependence of some of those trading partners on that country (namely, breadth- or depth-based patterns).

biggest exporter of medicine in world

The results show that the global medical device trade market is export oriented.

biggest exporter of medicine in world

Details on the ways in which the influence of some crucial countries has formed are provided. The evolution patterns and geographical distribution of influence among countries in the GMDTN are revealed. To fill these research gaps, this study constructs a global medical device trade network (GMDTN) and explores the criticality of various countries from a network-based perspective. However, few efforts have been made in previous studies to explore various countries’ influence on the international medical device trade in light of their intricate trade relationships. It is crucial for government policymakers to identify the most influential countries in the international medical device trade and nip exports in the bud. To maintain the domestic supply of medical devices, some countries have sought multilateral trade cooperation or simply implemented export restrictions, which has exacerbated the instability and fragility of the global medical device market. Since the outbreak of the coronavirus disease 2019 (COVID-19) pandemic, the international medical device trade has received extensive attention.






Biggest exporter of medicine in world