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.

03 Nov 2022

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...