The Impact of the Internet on the Innovation Effect of Medical and Pharmaceutical Products Manufacturing

Abstract

By constructing a panel data model using the relevant data of China’s medical and pharmaceutical products manufacturing, and the development of the Internet from 2004 to 2016, the paper conducts an empirical study of the Internet’s impact on the innovation effect of China’s pharmaceutical manufacturing industry. It concludes that the innovation of China’s medical and pharmaceutical products manufacturing is significantly impacted by the development of the Internet, the cultivation of innovative talents as well as the increase in expenditures, and less influenced by the investment in fixed assets. From the perspective of regional differences in China, economically developed areas, talent-intensive areas and medicinal material resource endowment areas enjoy higher innovation effects. In the time dimension, the innovation effect of China’s medical and pharmaceutical products manufacturing is being enhanced with the Internet Plus strategy. Therefore, the infrastructure and management information system in this industry needs to be strengthened; meanwhile, more efforts need to be put in cultivating innovative talents and increasing research and development expenditures.