The medical device market is fast-becoming a powerhouse of the global healthcare sector. The United States especially has seen prolific demand for medical devices over the past decade and a half. A growing geriatric population and trend toward therapeutic and rehabilitative treatments could push the global value of this market as high as 657.98 billion by 2028, according to 2021 market research.
Yet, for as prolific as the runway appears, the medical device market faces challenges—particularly once the pandemic is behind us. Here’s a look at seven significant challenges facing medical device manufacturers today and how they could persist into the future as the market becomes more in-demand and more competitive on all fronts.
1. Disrupted supply chains: The Covid-19 pandemic crippled supply chains around the world, causing everything from delayed product deliveries to rising materials prices. Yet, demand for medical devices hasn’t fallen.
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