Medical Device Market - Five Forces Analysis

Medical Device Market - Five Forces Analysis

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Intensity of Existing Rivalry

Fast industry growth rate (Medical Device Market) When industries are growing revenue quickly, they are less likely to compete, because the total...
Large industry size (Medical Device Market) Large industries allow multiple firms and produces to prosper without having to steal market share...

Bargaining Power of Suppliers

High competition among suppliers (Medical Device Market) High levels of competition among suppliers acts to reduce prices to producers. This is a positive...
Low concentration of suppliers (Medical Device Market) A low concentration of suppliers means there are many suppliers with limited bargaining power. Low...

Threat of Substitutes

Substantial product differentiation (Medical Device Market) When products and services are very different, customers are less likely to find comparable product...
High cost of switching to substitutes (Medical Device Market) Limited number of substitutes means that customers cannot easily switch to other products or...
Limited number of substitutes (Medical Device Market) A limited number of substitutes mean that customers cannot easily find other products or services...

Bargaining Power of Customers

Limited buyer choice (Medical Device Market) When customers have limited choices they end up paying more for the choices that are available....
Product is important to customer (Medical Device Market) When customers cherish particular products they end up paying more for that one product. This...
Buyers require special customization (Medical Device Market) When customers require special customizations, they are less likely to switch to producers who have...

Threat of New Competitors

Strong distribution network required (Medical Device Market) Weak distribution networks mean goods are more expensive to move around and some goods don’t get to...
Strong brand names are important (Medical Device Market) If strong brands are critical to compete, then new competitors will have to improve their brand...
High capital requirements (Medical Device Market) High capital requirements mean a company must spend a lot of money in order to compete in the...
Customers are loyal to existing brands (Medical Device Market) It takes time and money to build a brand. When companies need to spend resources building a brand,...
Advanced technologies are required (Medical Device Market) Advanced technologies make it difficult for new competitors to enter the market because they have to...
Patents limit new competition (Medical Device Market) Patents that cover vital technologies make it difficult for new competitors, because the best...
High switching costs for customers (Medical Device Market) High switching costs make it difficult for customers to change which products they normally...
High learning curve (Medical Device Market) When the learning curve is high, new competitors must spend time and money studying the market...
Entry barriers are high (Medical Device Market) When barriers are high, it is more difficult for new competitors to enter the market. High entry...

What is Porter's Five Forces Analysis?

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