Steady and reliable supply chains are critical to the medtech industry. But as the pandemic revealed, when the flow of those supply chains is disrupted it can impact more than bottom lines – it can cost lives.
AdvaMed Offers Plan To Strengthen Medtech Supply Chain
Medtech trade group AdvaMed is offering a list of recommendations to beef up the nation’s medical technology supply chain. Public-private partnerships are central to the group’s plan.
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A New South Korean law, the Digital Medical Products Act, enhances regulation for digital health products. Medical devices in the country are categorized both by risk and by similarity to already authorized devices. The approval process may stretch to 515 days for new manufacturers.
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Its move comes as the Swiss recognize the need to ensure adequate supplies on medical devices in its country.
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Recognizing that the evidence it receives in applications for health technology assessments will increasingly be informed by artificial intelligence, the CDA-AMC has clarified its expectations for companies that use AI methods in the generation and/or reporting of evidence.