Medtech manufacturers have become more pessimistic about the semiconductor shortage, with respondents to a Deloitte survey predicting the disruption to continue into next year.
Commissioned by AdvaMed, Deloitte surveyed the industry in July 2021 and again in April 2022. The second survey found almost 80% of respondents are experiencing extended lead times and hospitals and health systems are looking into alternative products as a result of the disruption.
“Our members are developing lifesaving and innovative treatments for patients, and without the necessary components, it is becoming difficult to get these products into the hands of health care professionals,” said Scott Whitaker, AdvaMed President and CEO. “A failure to strengthen the chips supply line to medtech companies could result in a shortage of the medical devices and technology that millions of patients rely on every day, resulting in a crisis on par with what we are seeing with baby formula right now.”
Faced with the supply constraints, all respondents are pursuing alternative sources, having often relied on single semiconductor providers in the past, and 70% have increased inventory levels.
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