1. Medtech Insight
  2. >>Business
  3. >>Financing

Medtech Challenged To Build On 2021 Amid Threats Of Recession: Views From Industry Leaders

EY’s Pulse of the Industry report provided fodder for discussion at the AdvaMed MedTech Conference.

 
• By Marion Webb

Strong headwinds beset the medtech industry as 2022 draws to a close, including supply chain, fundraising and labor shortages. However, optimism prevailed among medtech industry leaders discussing EY’s annual Pulse of the Industry medical technology report and related topics at AdvaMed’s 2022 MedTech Conference.

AdvaMed panel with Jim Welch, EY Global MedTech Leader; Ashley McEvoy, J&J’s executive vice president and worldwide chairman of Medtech; Geoff Martha, CEO of Medtronic; and Gary Guthart, CEO of Intuitive Surgical
• Source: Medtech Insight

The medtech sector is facing significant headwinds this year after record-breaking growth of more than 16% in 2021, driven by the resumption of deferred elective procedures and ongoing demand for diagnostics, lab equipment and other pandemic-related products, according to the 16th annual EY Pulse of the Industry medical technology report.

EY notes medtechs are adjusting to a complex environment marked by geopolitical conflict, soaring inflation, recession fears, continued supply chain...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Medtech Insight for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Financing

Medtech Giants Brace for Tariffs Impact: Responses Range From Financial To Philosophical

 
• By Marion Webb, Shubham Singh, and Nancy Pham

Manufacturing shifts, financial planning, and supply chain changes are among the adjustments that medtech leaders are making to Trump-era tariffs. Medtech Insight’s review of first-quarter earnings calls reveals how firms are navigating the impact and uncertainty of evolving trade policies.

Salvia Bioelectronics Secures $60M In Series B To Advance Chronic Migraine Implant, Eyes US Trials

 
• By Marion Webb

Medtech Insight spoke with Hubert Martens, CEO of Netherlands-based neuromodulation company Salvia Bioelectronics, about the company’s innovative implant for treating chronic migraines, ongoing clinical trials and plans for US clinical trials and commercialization.

Bone Surgery Startup Surgify Medical Raises $7.9m

 
• By Natasha Barrow

Surgify Medical’s selective drill tip, Surgify Halo, is “an obvious choice for surgeons,” said Boris Hofmann, head of ZEISS Ventures and lead investor in the company’s series A funding round.

German Bionic Launches ‘Strongest Exoskeleton To Date’

 
• By Natasha Barrow

German Bionic’s new exoskeleton Exia helps healthcare practitioners, nurses, and other caregivers to lift and move patients by supporting muscle movement and reducing the risk of injury.

More from Business

J&J MedTech Launches KINCISE 2 Surgical Automated System In US

 
• By Natasha Barrow

The KINCISE 2 Surgical Automated System aims to “reduce the physical burden on surgeons compared to manual impaction in primary and revision hip and revision knee replacement procedures,” said J&J MedTech.

Quest Diagnostics Minimizes China Tariff Risk With Less Than 1% Supply Chain Exposure

 
• By Shubham Singh

Quest reaffirmed its full-year guidance despite macroeconomic concerns and tariff uncertainty. Revenues are expected between $10.7bn and $10.85bn. Adjusted earnings per share (EPS) is estimated in the $9.55 to $9.80 range for the full year, with EPS between $8.62 and $8.87.

Abbott Launches Next-Gen Delivery System For Proclaim DRG Neurostim

 
• By Shubham Singh

Allen Burton, Abbott’s medical director of neuromodulation told Medtech Insight that the delivery system was developed to make the procedure easier for physicians, especially those who perform the implantations infrequently.