Major Challenges Facing the Medical Device Market

Fremont, CA: The medical device market is quickly becoming a global healthcare powerhouse. Over the last decade and a half, there has been a surge in demand for medical devices, particularly in the US. According to 2021 market research, the global value of this market could reach $657.98 billion by 2028 due to an increasing geriatric population and a trend toward therapeutic and rehabilitative treatments.

However, as promising as the runway appears to be, the medical device market will face challenges, particularly once the pandemic is over. Here are seven major challenges confronting medical device manufacturers today and how they may persist in the future as the market becomes more in-demand and competitive on all fronts.

Disrupted Supply Chains

The Covid-19 pandemic disrupted global supply chains, resulting in everything from delayed product deliveries to rising material prices. Nonetheless, demand for medical devices has not decreased. In fact, it increased in 2021.