Chips for Lives – News

Philips has had ongoing discussions with major chipmakers about taking action to meet the demands, and working with governments and others, the medtech industry certainly hasn’t been shy about trying to get more chips. However, despite substantial efforts to ensure continuity of supply, the challenges are only mounting. In some cases, delays have increased to over 52 weeks.

At the same time, more and more people are seeking much-needed medical care that has been delayed or postponed due to the pandemic. It could take many healthcare systems years to process huge patient backlogs, and as they prioritize this, it will only increase the demand for new medical equipment and, therefore, more chips. Additionally, global chip demand growth is expected to nearly double between 2021 and 2028, leading to severe chip shortages for many industries.

Unfortunately, the medical technology industry competes with the automotive, industrial and consumer industries for a limited supply of critical chips. Due to the urgent need for these chips in the medical technology industry, which represent only 1% of the total supply, we ask that chip allocations be prioritized at a level that allows the industry to meet the demands manufacturing of medical devices today.