Initial signs of the tumultuous year ahead began to take hold a year ago this month, with the World Health Organization’s pandemic declaration and a wave of regional lockdowns.
Like much of the business world, the medtech industry has ridden a roller coaster of steep demand for novel diagnostics and a plunge in once-stable business lines like hip and knee replacement surgeries.
With accurate testing among the most immediate public health and market needs, giants like Abbott and Becton Dickinson jumped into new markets of PCR, antigen and antibody tests.
After CMS advised hospitals to halt elective procedures on March 18, Boston Scientific and Stryker were among those reliant on products used in procedures deemed non-emergencies, and took big financial hits. The end of the year was bumpy as the virus surged again in hot spots around the country.
Now with vaccines denting the need for testing and potentially spurring a restart of non-emergent surgeries, much of the sector will need to pivot again.
FDA's device chief Jeff Shuren has called the year ahead one of a reset, after the agency scrambled to clear tests, vaccines and drugs to fight the virus. Priorities put on the back burner are getting greater attention as a new administration marks a direction shift.
We'll explore these and other big themes one year into the pandemic in this special series. We'll update the page with fresh content daily.
1 year after COVID-19 hit: what's next for FDA, electives, testing and robotics
The medtech industry has ridden a roller coaster of steep demand for novel diagnostics and a plunge in once-stable business lines like hip and knee replacement surgeries.
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5 things medtech can expect from FDA in 2021
By Greg Slabodkin • March 15, 2021"What you saw under the prior administration was this concept of a kinder, softer FDA to industry," said Dennis Gucciardo, partner at Morgan Lewis. Experts now expect a shift, including more enforcement activity. Read the full article ➔
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All eyes on elective care after a rollercoaster year for medtech
By Ricky Zipp • March 16, 2021After shutdowns slammed procedure-dependent firms in 2020, industry and Wall Street are waiting to see when non-emergency surgeries return and what a comeback might look like. Read the full article ➔
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From labs to homes: where COVID-19 testing is headed in 2021
By Greg Slabodkin • March 17, 2021The U.S. appears to have reached a new phase in its battle against the coronavirus with vaccinations taking precedence over tests. Whether testing will return to earlier levels is an open question. Read the full article ➔
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Robotics demand held firm as pandemic pummeled electives
By Ricky Zipp • March 18, 2021Intuitive Surgical, Stryker and Zimmer Biomet all saw procedure volumes drop in 2020 as electives shut down. However, system demand remained strong despite the financial hit to hospitals. Read the full article ➔
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ASCs gave medtechs alternate care sites amid pandemic hospital elective shutdown
By Ricky Zipp • March 19, 2021After surgeries moved to ambulatory surgery centers during the pandemic's upending of non-emergency care, experts and industry believe some procedures may never go back. Read the full article ➔