The
Medical Industry
The
medical business is concerned with the provision of
goods and services to enable the smooth running of hospitals
and medical institutions. Any hospital needs a huge
amount of equipment to function properly. It requires
sterile surgical tools and needles, beds, clean scrubs
for nurses and doctors to wear and a whole host of other
medical equipment.
The medical industry is also concerned with the provision
of drugs and medicines. There are a number of large
MNC’s (multi-national corporations) that provide
these drugs and medicines. They spend millions of dollars
each year researching new drugs to help fight diseases.
One of the problems that they encounter is that when
a new drug is released it is quickly copied by their
less scrupulous competitors and sold at a much lower
price that does not reflect the high cost of researching
and developing these drugs.
The medical business has a steady source of demand for
its goods and services from hospitals and other medical
institutions. New medicines along with existing drugs
ensure healthy profit margins. If the problems encountered
with companies violating copyrights and patents could
be rectified these would be even greater.
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