The Medical Device industry is booming, with new technologies emerging every other day. The year 2021, like 2020, has experienced continued disruption owing to subsequent waves of the COVID-19 pandemic. However, the MedTech industry and its regulations have been changing steadily and adapted to all the changes swiftly to ensure all requirements laid down by the Agencies are met within timelines. Also, the Agencies have been very cordial in addressing any challenges faced by the stakeholders. Here is a quick look back article on major medical device Regulatory changes across the globe.
Thanks to the rapid development of vaccines and quick vaccinations in major parts of the world, there seem positive developments in all the business sectors towards the growth. However, the threat is persisting in terms of new waves and new variants of COVID. Let us hope we soon get over this and see the brighter side of the business. Even in these darkest times of humankind, few business sectors like Life Sciences are recording good business growth and taking quick strides forward.
It is apparent that COVID-19 has permanently changed the ways of business operations for many industries across the globe. In fact, it has subtly given a renewed purpose to industries to evolve and advance in terms of tech-enabled and automated workflows.
In today’s rapidly changing global Regulatory scenario, companies must keep on par with evolving global label changes while creating, tracking, and managing different aspects of labeling. As a label deals with the product’s safety and efficacy data which may impact end-user’s wellbeing, companies must adhere to global Regulatory requirements in real-time and try adopting them intact.