Markets and Product Specialization in Medical Devices: Implications for the Post covid-19 Evolution of the Industry at Regional Level

Raffaele Giardino and Alberto Rinaldi

L'industria, 2020, issue 3, 417-437

Abstract: This paper analyses the impact of covid-19 crisis on the medical device industry, a sectorof particular relevance for the economy of Emilia-Romagna. This is an anti-cyclical sectorwhich accounts for 6% of world trade in goods and in a post-coronavirus scenario can representan important driver for economic growth. mnes play a paramount role in this sector, especiallyGerman, American Swiss companies with a global manufacturing system and worldwidedistribution channels. Such a significant presence of mnes can be detected also in the Region,where one of major biomedical districts in the eu is located. This paper argues that the vulnerabilityof gvcs that has been made apparent by the covid epidemics creates the opportunityfor a renewed industrial policy by the Region Emilia-Romagna that facilitates local smes to joinmost advanced gvcs in which smes – especially supplier ones – are involved in strategic stagesof the value chains such as r&d and design. A possible tool is conditioning regional fundingto r&d projects of mnes to their partnering with a minimum number of local smes

Keywords: covid-19; Medical Device Industry; gvc; Regional Industrial Policy (search for similar items in EconPapers)
Date: 2020
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