PASADENA, CALIFORNIA – OCTOBER 29, 2020 – New research from Supplyframe indicates that nearly a third (32%) of supply chain professionals believe it will take six to 12 months for the global supply chain to be back at full capacity following the disruptions due to the pandemic, and a fifth (20%) said it will take 12 months to 2 years. Yet the same research shows that 66% think that if a vaccine is approved for use in the U.S., the necessary medical equipment will be available to produce and distribute that vaccine at scale within one year.
This research is based on a survey of 200 supply chain professionals who work at medical device companies based in North America. Conceptial Inc. conducted the research on behalf of Supplyframe between August and September of 2020. The survey gathered supply chain professionals’ sentiment during a year in which global value chains have been profoundly impacted by the pandemic, and businesses in healthcare and manufacturing saw increased risk as a result.
“The supply chain has experienced delays in manufacturing, shortages in supply, and logistics problems due to travel restrictions,” said Supplyframe CEO Steve Flagg. “But most supply chain professionals believe the U.S. will have the equipment it needs to create and deliver a COVID-19 vaccine within a year of its approval. However, our research points to the many current and potential challenges the nation faces related to vaccinations, testing and equipment availability. And it highlights the importance of data accuracy and intelligence.”
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Concerns Loom About Vaccine Development Speed, Inoculation Refusal
As the pandemic drags on, a fair share of survey participants expressed concern about the pace of vaccine development. Nearly a fifth (19%) said they don’t think the U.S. will produce a vaccine fast enough, and 16% said vaccine distribution in America is too onerous.
The survey group also noted the potential challenge of getting the public inoculated. Some 14% of the group said that they expect too many Americans to refuse to take the vaccine.
There Is Worry About Supply Shortages Due to Virus Resurgences, Tariffs on China
Many supply chain professionals also expressed concern about a COVID-19 resurgence and its potential impact on medical device production; 15% of survey participants said they expect to see supply shortages in the event of a continued resurgence of the virus. Nearly as many (12%) said there will be a delay in medical device production in the event of a resurgence.