30 August 2022
Med-tech is not “immune” to the coming recession
Health Tech World asked medtech professionals about the possibility of an upcoming recession in the UK and USA. UK Country Manager, Crag Oates, has shared his thoughts on how the sector is not as “immune” as some may assume.
“With it looking like an economic recession is on the horizon, industry speculation is hot. There are constant debates going on about whether certain sectors can withstand the economic crisis, with medical technology being at the forefront of the conversation.
“But just how strong can it stand in the storm? And how does it compare with other parts of the health tech industry?
“On the matter, Craig Oates has said: “We are already seeing staff leave the NHS, opting to move to the private sector or pursue healthcare roles overseas due to higher pay and a better work-life balance.”
“The cost-of-living crisis will likely make this worse, increasing the ‘brain drain’ we’re currently seeing impact digital innovation in healthcare.
“This will have wider impact on elective recovery as staff shortages in the NHS worsen, making it more difficult to cut down on long waiting lists built up over the pandemic.”
Read the full article here: Medtech is “not immune” to the coming recession of 2022 (htworld.co.uk)