Medtech Hot Takes of the Month of April
These were among the most thought-provoking quotes we heard from medical device and diagnostics thought leaders in April.
May 2, 2022
The U.S. manufacturing industry is expected to have as many as 2.4 million vacant manufacturing jobs in the next five years – just in case you weren't already concerned about the manufacturing labor shortage.
At MD&M West (part of IME West) in Anaheim, CA, Chris Luecke and Jake Hall took to Center Stage for a fireside chat about ways manufacturers can attract workers from younger generations.
Luecke is host of the wildly popular Manufacturing Happy Hour podcast, and Hall is known on social media as the Manufacturing Millennial.
A lot of U.S. manufacturers are considering reshoring (or nearshoring) because of supply chain problems and inflated cargo costs. But many of these companies are finding out that leaving China raises other concerns, such as intellectual property protection.
Rosemary Coates, executive director at the Reshoring Institute, spoke at IME West about how the United States became dependent on China for manufacturing, and what manufacturers need to consider before reshoring.
"I've helped a lot of companies now come out of China. And they're like, 'We're worried about our IP,' and I'm like, 'You should be.' Because you've taught the Chinese manufacturer how to manufacture your goods. You've sent them the blueprints. You've told them what the processes are. You've told them who all of your suppliers are across China," Coates said. "...They're not going to go to sleep at night, wake up in the morning and forget how to make your goods. They're going to come to work in the morning and keep making your goods and put a different label on it."
So a lot of companies find they're competing against themselves when they leave China, she said.
Click here to read MD+DI's coverage of Coates' presentation.
Coates is also featured on the Let's Talk Medtech Special: The Global Supply Chain in Crisis.
Abbott has partnered with CamDiab and Ypsomed to develop an integrated automated insulin delivery system. The partnership's initial focus is on European countries.
The new integrated automated insulin delivery system is being designed to connect Abbott's FreeStyle Libre 3 continuous glucose monitoring sensor to CamDiab's CamAPS FX mobile app, which connects with Ypsomed's mylife YpsoPump – creating a smart, automated process to deliver insulin based on real-time glucose data. The connected, smart wearable solution is designed to continuously monitor a person’s glucose levels and automatically adjust and deliver the right amount of insulin at the right time, removing the guesswork of insulin dosing.
The news represents the power of collaboration in the industry.
"We are convinced that major challenges of society can only be addressed through partnerships. We are therefore proud to expand our partners and connectivity to offer more freedom of choice in managing diabetes," said Ypsomed CEO Simon Michel.
A keynote panel at IME West explored all aspects of the global supply chain crisis, including ways that smart manufacturing technologies such as AI, industrial robotics, etc. can help manufacturers mitigate risk in their supply chains. Jeff Brown, vice president of operations at Sonendo, was among the panelists. He is also featured on the Let's Talk Medtech Special: The Global Supply Chain in Crisis. Click below to listen or, if you prefer, scroll through the transcripts here.
A keynote panel at IME West explored all aspects of the global supply chain crisis, including the importance of supply chain ecosystems.
Kimberly Gibson, ecosystem director at America Makes, says there needs to be more data sharing and also observation sharing, meaning that companies need to start sharing what trends they’re seeing in their supply chains.
"The walls of our ecosystem are going to get more and more clear at some point," Gibson said.
She is also featured on the Let's Talk Medtech Special: The Global Supply Chain in Crisis. Click below to listen or, if you prefer, scroll through the transcripts here.
A keynote panel at IME West explored all aspects of the global supply chain crisis, including the importance of supply chain ecosystems.
Kimberly Gibson, ecosystem director at America Makes, says there needs to be more data sharing and also observation sharing, meaning that companies need to start sharing what trends they’re seeing in their supply chains.
"The walls of our ecosystem are going to get more and more clear at some point," Gibson said.
She is also featured on the Let's Talk Medtech Special: The Global Supply Chain in Crisis. Click below to listen or, if you prefer, scroll through the transcripts here.
April seems to have gone by in a blink as the medtech industry has officially returned to live events, and public companies have begun to report on yet another challenging quarter. Here is a look back at the most thought-provoking statements we heard from industry thought leaders during the month of April.
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