The role of inter-sectoral balance in government regulation of the medical device industry

Alexey Yu. Shtanko and Svetlana V. Panikarova
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Alexey Yu. Shtanko: Ural Federal University named after the first President of Russia B.N. Yeltsin
Svetlana V. Panikarova: Ural Federal University named after the first President of Russia B.N. Yeltsin

Siberian Journal of Economic and Business Studies, 2025, vol. 14, issue 2, 97-118

Abstract: In the face of global challenges and economic instability, ensuring the economic security of the medical device industry has become a crucial priority for national healthcare systems. Dependence on imported equipment and components poses significant risks to the sustainable functioning of the sector. Under these circumstances, the development of domestic production and the creation of scientifically grounded methodologies for assessing economic security gain particular importance. These methodologies enable the timely identification of threats and the development of robust development strategies. The purpose of the study is to develop a methodology for assessing the economic security of the medical device industry. The developed methodology for assessing economic security based on the principles of inter-sectoral balance provides a systematic tool for analyzing the medical device industry. It enables the identification of key risks, vulnerabilities, and dependencies, as well as the determination of directions for improving the sector's resilience. The application of this methodology supports informed managerial decision‑making at both governmental and corporate levels. This contributes to the development of domestic production and the scientific and technical base, reduces import dependence, and strengthens the economic security and technological independence of the medical device industry. Purpose: Assessment of the imbalances in the development of the medical device industry through the development of an inter-sectoral balance. Research methods: The article uses the method of inter-sectoral balance proposed by V.V. Leontiev, adapted taking into account the specifics of the medical device industry. System and structural analysis, analysis of inter-sectoral interactions were also applied. Results: An assessment of the degree of sustainability of the industry has been obtained, critical industry dependencies on imports and bottlenecks in technological processes have been identified. Scope of the results: Based on the results obtained, specific measures of state regulation of the industry were proposed.

Keywords: medical devices; economic security; assessment methodology; inter-sectoral balance; import substitution; sectoral analysis; resilience (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:cxm:rusebs:14:2:2025:97-118

DOI: 10.12731/2070-7568-2025-14-2-299

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