No matter who ends up in the White House, there will need to be a reckoning over how the government’s relationship with medtech has changed, according to industry insiders.
It’s been a tumultuous few years for the medical device industry, with highs and lows that no one could have foreseen.
President Donald Trump’s administration streamlined some FDA processes. The medical device excise tax, enacted during the Obama-Biden administration, was permanently repealed.
But any normal state of affairs in the industry was upended by the coronavirus pandemic. COVID-19 disrupted supply chains, brought elective surgeries to a halt and attracted all sorts of businesses to jump into an industry that they knew nothing about. The pandemic also brought about unprecedented cooperation within medtech and between medtech and companies in other industries, such as automotive.