Development Environment and SWOT Analysis of Biomedical SMEs after COVID-19: Evidence from China

Abstract

After the outbreak of the COVID-19, biomedical companies are facing good development opportunities. However, under the background of the country’s strong support for the development of the biomedical industry, small and medium-sized enterprises (SMEs) in biomedical industry will face new competitive challenges. Therefore, in this research, the industrial development analysis, Porter’s five forces analysis model and SWOT analysis model were applied in exploring the development environment and industrial competitiveness of biomedical SMEs. From the results and discussions of this study, it is not difficult to find that China is experiencing a social change of decreasing birth population and aging population, and the biomedical industry needs to make timely strategies accordingly. Meanwhile, due to the increasing per capita medical and health expenditure, it is a rare opportunity for the biomedical companies to promote the prosperity and development of this industry. This study also analyzes the current development problems faced by the biomedical SMEs in China, which provides useful reference for relevant enterprises and policy makers.