DOTmed November 8, 2021
Like many industries reliant on the dissemination of physical goods, the medical devices market experienced significant issues in 2020 due to COVID-19-related disruptions. This growing field, which witnessed a 4.4% CAGR since 2015 and reached $457 billion in 2019, was plagued with a variety of supply chain issues: High prices, stringent barriers to entry, limited competition, increased lead times for distribution, and complex country-specific tariffs were just the beginning. Sourcing of parts became difficult due to shortages, and medical device organizations faced the difficult task of optimizing their available parts inventories while ensuring their provider facilities and hospitals had the stock they needed to serve patients. Because medical device supply chains are highly regulated, there were also challenges in staying...
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