World medical devices market: Current trends and their realization in Russia

The goal of our study is to search and analyse the main trends in the medical devices (MD) market and their presence in the Russian medical devices market. Using the main indicators of the medical devices market, such as: the dynamics of the export and import volumes of the world and Russian medical devices market, the volume and dynamics of the Russian medical devices market, as well as the main directions that could contribute to the development of this market, we achieve the delivered goal. We used the theory and methodologic foundations in the field of evolutionary and institutional economics, methods of comparative, systemic, structural, logic analysis, and the economic and statistical method. Let us single out a number of scientists and researchers, as well as analytical companies, whose works formed the information basis for supplementing and creating a more complete picture of the medical device market in our study, namely: M. V. Silva-Vega (2018), V. A. Vilensky (2013), E. V. Miklashova (2015), and companies Evaluate (2020) and Emergo (2020). Currently, leading positions in the international market of medical devices are held by manufacturing companies, global giants such as Medtronic, Johnson & Johnson, Thermo Fisher Scientific, Philips, GE Healthcare, Fresenius, Abbott Laboratories, Cardinal Health, Siemens Healthineers, Stryker. It should be noted that, according to experts, the share of foreign companies in the Russian market of medical equipment reaches 80%. However, the Russian medical industry, as the basis of the medical devices market, is recognized among priority areas for the development in the Russian economy, since it has significant growth potential, including in international markets. Leading domestic companies in Russia are Electron, Geppik, Amiko, MTL, Ural Optical and Mechanical Plant, and Izhevsk Mechanical Plant. Based on the results of the world and Russian markets of medical devices analysis, determining the main potentials and directions of the medical devices markets development, trends in the world market of medical devices were identified. These trends can be divided according to several criteria. A geographical criterion: the highest growth rate of the market will remain in the USA and European countries, the Asian market, as well as the countries of South America and the Middle East, will become promising in terms of development rate. A market sector criterion: the largest growth is observed in the sector of laboratory diagnostics, cardiology, traumatology, as well as in the low-margin segments (masks, gloves, etc.). A state priority criterion: an increase in state funding for the development of high-tech equipment, innovations, simplification of the registration process for medical devices. A global social development criterion: the emergence of new dangerous infections, an aging population, increased requirements for the quality of medical services, a change in the categories of diseases, a constant deterioration of the ecological situation. The coronavirus pandemic broke out in 2020 gives increased attention and relevance to this issue, and served as a factor in a sharp increase in demand for personal protective equipment, ventilators, test kits, etc., which is also reflected in our research. © 2020 Institute of Society Transformation. All rights reserved.