The medical device industry is facing supply chain challenges, including raw material shortages and transportation delays, as a result of the COVID-19 pandemic. To combat these issues, the industry is working to increase supply chain resilience and agility. The aging population in the US is also shaping and accelerating the growth of at-home care services, making accessibility and product diversity essential. Personalized medicine and wearables, such as fitness trackers, are becoming increasingly popular in healthcare. The industry must also focus on risk management, cybersecurity, and data privacy to protect consumers. The FDA has announced a $21.6 million budget for 2022 to prevent medical device shortages and strengthen the overall supply chain.
