Building Resilient Medical Supply Industry Post-COVID
From past to the present, the Medical Supplies Industry has been a solid but hidden backbone of the health care industry. However, as we set our eyes towards the future, it is important to note that the medical supply industry has witnessed a monumental transformation due to the COVID pandemic. America’s heavy dependence came to light as it reportedly relied on China with its $800 million investment to source medical supplies , for almost a decade and a half until COVID. During COVID, India and China played an instrumental role in disbursing the required medical supplies to the US market with China supplying 20% (due to lockdown) of medical Personal Protective Equipment (PPE) to the USA which was 40%+ back in 2018 out of total PPE supply. As the US sourced 72% of APIs (Active Pharmaceutical Ingredients) from other countries, India contributed to 18% and China accounted for 13% of the total supply. And according to the research reports a $105.8 billion medical supply industry b