As the healthcare sector adapts to the changes induced by the COVID-19 pandemic, the global medical devices industry is undergoing a major transformation in terms of business models, technology adoption, and care delivery approaches, among other areas. 2022 will prove to be another challenging year for medtech as uncertainties pertaining to COVID-19 variants and the resultant pauses in elective surgeries continue to plague the provider space. Supply chain challenges are likely to continue throughout the year, which will impact the availability of raw materials and finished devices and raise inflation.
All the major medtech manufacturers have predicted headwinds due to the healthcare workforce shortage (compounding the issue of medical device uptake), and this will be exacerbated by employee burnout, new waves and variants of the virus, rising case numbers, vaccine mandates, the Great Resignation, skyrocketing salaries for nurses, and the Great Retirement.
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