COVID-19 Challenges & Opportunities for Medical Device Manufacturing Companies

COVID-19 Challenges & Opportunities for Medical Device Manufacturing Companies

COVID-19 pandemic has challenged the health care systems and the effective delivery of medical care to patients worldwide. Inadequate stockpiling, insufficient attention to warning signs, lack of access to personal protective equipment (PPE), and testing kits have likely affected the medical device manufacturers.

Like pharmaceutical companies, medical device manufacturers rely on healthcare services to collate clinical trial data. Most medical device products undergo clinical trials before receiving the certificates for market approval. Be that as it may, as the pandemic keeps on unfurling, organizations are finding it hard to settle on educated choices about supply chains, administrative commitments, and products.

But to spill, the beans, this moment of crisis will also present a massive opportunity for medical device manufacturers worldwide. Some of these are – sophisticated and flexible technology, invigorated gratitude for the outdoors, and other simple day-to-day inclinations. Though we do not exactly know about the upcoming days, it’s pretty clear that the healthcare providers and the patients are relying on the medical technology industry now, more than before.

Complex Healthcare Environment

The COVID-19 pandemic has put the healthcare environment under irrefutable stress. The supply chain logistics in the clinical, just as the pharmaceutical business, have gotten fundamental to any crisis well-being circumstance. However, medical device manufacturers can follow up on the chance to smooth out their regular activities and improve information on the board. They can create a robust and more concerted bond throughout the supply chain and build efficient responses in times of need.

To do so, all the medical facilities like manufacturers, pharmaceuticals, hospitals, and other associated health services must work together to navigate the medical device regulations from the FDA and EU and thereby handle the risks throughout every step of the quality control procedure.

For instance, the healthcare device manufacturers and delivery organizations must collaborate to communicate the updates to devices like new fixes or network up-gradation, etc. It ought not to be a specific duty of one gathering over the other; however, it must be a multiparty responsibility.

Unprecedented Demand for Supplies

Today, medical manufacturers worldwide are facing an unprecedented demand for diagnostic equipment, PPE, and coronavirus treatment. This requires the quick reaction measures for organizing the client orders and rapidly providing the vital clinical supplies to the market. As these products and services are of extreme importance in the light of COVID-19, the speed-to-market has also turned out to be critical.

However, regulatory approval causes the primary blockage. There are no adequate approved products and manufacturers to bring in a large number of device production capacity to the edgy healthcare segment. Widening the global production lines can be the potential solution to this problem. It comprises of including clinical gadget makers, particularly those with the items approaching the finishing of administrative endorsement.

Recently, the U.S. Food & Drug Administration significantly assisted the medical facilities in enhancing the availability of crucial devices like ventilators as well as other respiratory devices to support patients with difficulty breathing and other COVID-19 related issues.

Lack of Unified Response

The virus outbreak has undoubtedly trapped both public and private healthcare organizations. While government bodies are investigating different radical alternatives, the medical device companies are additionally approached to keep up lucidity as they define their crisis response. However, one can witness the lack of a unified response to the COVID-19 pandemic in this situation. Many countries tussle to comprehend the scale of the crisis and deployment of tests to respond to the same.

Medical device manufacturing firms can easily battle against this issue. For instance, in South Korea, medical devices have played a vital role in the mitigation process. They have immediately employed drive-through testing stations and armed medical employees with remote temperature scanners and throat swabs.

Some of their walk-in centers also followed specific measures to direct patients through recently built plastic phone-booth-style tubes to safeguard people from having direct contact with medical staff.
In closing, this season of vulnerability approaches the medical device industry to work closely with patients, regulators, and public systems for our well-being. The challenges could be fast-paced, where much of it may turn out to be disappointing. The key, however, is to focus on making the best use of these difficulties and delivering the most compelling assistance to control the rapid spread of the virus.