2020 has been a pivotal year in the medical devices and life sciences industries.
The destructive way that Covid-19 has affected the world has brought about a never-before focus on collaboration between medical sectors.
Medical devices have been central in the fight against Covid-19, and have become a life-saving tool in the fight against the virus.
Radical changes to healthcare and the way we live have been implemented this year – but what about the coming year?
Today we look at the possibilities for your medical device company over the coming 12 months.
Collaboration with Pharma
During the Covid-19 pandemic, there has been an easing of competition rules and regulations which has allowed for greater collaboration among the medical devices and pharmaceutical sectors.
For the first time, competitors across the medical devices and pharmaceutical sectors have worked together to deliver life-saving medical aid to those in need.
And these competitors have continued to work together to protect the medical supply chain as the world works through the crisis of the pandemic.
As we move forwards, there will be an emphasis on collaboration, and specifically on medical devices and pharma working together.
Life sciences supply chains are reliant on active pharmaceutical ingredients, the supply of which can be disrupted by global events like those we’ve seen this year.
Being prepared for a second wave of the virus will require organisations to work closely together to provide enough medical devices in the event of another outbreak. Being open to new collaborations and new ways of working is going to be essential for medical devices organisations and continued success over the next 12 months.
The quest for a Covid-19 vaccine is the top priority of pharmaceutical companies right now, and they can’t produce one without the help of medical devices companies.
In every country across the world, the demand for PPE reached an all-time high this year, with shortages affecting countries where demand outstripped supply.
The scale of Covid-19 is like nothing the world has seen before, and being unprepared for it was what caused the shortages.
However, as we look back in hindsight, after the SARS pandemic, scientists had warned that another similar outbreak could happen
. The SARS virus pales in comparison to Covid-19, claiming around 800 deaths globally
compared to the 1 million coronavirus deaths that have occurred.
If we can take anything from the 2020 pandemic, it’s that we must be prepared for the future.
We have not yet beaten Covid-19, and further outbreaks expected to happen. So while we haven’t got a vaccine yet, we can protect ourselves by equipping those who need it with PPE.
This means an excellent opportunity for medical devices companies to step up and ensure we have enough PPE to last us until the end of the pandemic.
During the pandemic, the unprecedented event occurred that companies who don’t normally manufacture medical equipment turned their production lines to create items such as face masks, shields, gowns and other products in the fight against coronavirus.
While this was an essential life-saving move, for it not to happen again, there needs to be a focus on PPE production, ventilators and other Covid-related equipment in the medical devices sector, so this should be part of your growth plan for the next 12 months.
Flexible Working to Improve Public Health
A big takeaway from 2020 is the need to protect public health, and the medical devices sector is right at the heart of this.
Medical devices companies over the next 12 months need to focus on working with their customers and patients to create new and innovative products and services to improve public health.
This will involve -
- Helping the development of new products in the fight against Covid-19
- Increasing production lines
- Maintaining excellent supply chains
And a significant part of achieving this will be by having the right team in place.
Medical devices organisations have worked tirelessly this year to provide vital equipment for the world, so looking after your team should be a priority for employers.
Are you aware that there are skill gaps in your team, or that you need extra employees to meet demand? Many employers have viewed merely getting through the crisis as a triumph. But now we are out of the crisis stage and into the recovery stage, looking after your team needs to be a top priority.
Hiring New Talent
Recruiting new talent will be necessary for medical devices organisations who want to succeed this year. You need to have the right people with the right skills in the required roles; otherwise, the cracks will slowly start to appear.
There will be increased opportunities across all areas of the sector, including PPE, diagnostics, remote patient care and monitoring products.
Is your medical device organisation looking to expand in the next 12 months?
If so, you will need new and experienced talent, something which a dedicated recruiter will be able to provide.
Get in touch with us today to discover how we help medical devices companies source the right talent.
How Kinetic Can Help
Kinetic source professionals locally and internationally for leading multinational, regional and local Pharmaceutical and Medical Devices companies, including Consumer Healthcare organisations.
If you need help sourcing the best candidates for your pharmaceutical or medical device organisation who will help drive your business forward this year, get in contact
with us today.