Analyst comment Medtech under pressure
Global trade shocks – from the Persian Gulf war and global confl icts – are driving supply chain chaos. GlobalData’s survey of medtech leaders shows rising costs, thinner inventories and growing delivery risks, writes Andrew S Thompson, PhD, GD’s director of therapy research and analysis.
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n mid-2026, the war in the Persian Gulf – centred on renewed US-Iran hostilities, closure risks at the Strait of Hormuz, and drone and missile attacks on energy infrastructure and shipping – has triggered the most severe disruption in global oil markets since the 1970s. This Strait alone had previously carried ~20% of global oil exports and a similar share of LNG flows; closures or threatened closures have forced rerouting, incited energy price spikes, intense insurance and war- risk surcharges, and raised global inflationary pressures. Simultaneously, other flashpoints are escalating. The Russia-Ukraine conflict continues to choke commodity exports via Black Sea ports; the Red Sea sees frequent Houthi attacks disrupting maritime traffic; US-China trade disputes are morphing into technology decoupling and sanction-based countermeasures; even tariff wars with Canada erupted in August 2026. The healthcare and life sciences sectors are particularly exposed. Rising costs of key inputs (petrochemical derivatives for plastics, helium for imaging, energy for sterilisation), shipping delays, regulatory and logistics bottlenecks have all begun squeezing medical device manufacturers, drug supply chains, hospitals and, ultimately, patients. Multiple reports warn that the fragile links in global medical supply are being stretched again, after pandemic-era resilience had barely recovered. Against this turbulent backdrop, GlobalData surveyed more than 100 experts in the medical device industry during the summer of 2026. The goal was to understand how the Persian Gulf
Figure 1: In relation to the war in the Persian Gulf and your medtech business, how has your business reacted?
100% 13% 80% 60% 100% 40% 20% 0% Asia-Pacific
Its not going to affect me, so no change We are working on emergency planning
Europe North America
We are waiting to see what happens We’ve initiated our emergency planning
Source: GlobalData, Online Medtech Industry Survey April-August 2026, 131 respondents in aggregate 8 © GlobalData. 33% 88% 33%
crisis is impacting their businesses, what steps they’re taking to mitigate those impacts, and how they foresee consequences for healthcare delivery and patients. The survey covered questions on business reaction, adverse effects already felt, price expectations, delivery performance, and inventory resilience across regions (Asia-Pacific, Europe, North America). What follows is a compendium of those findings, including both quantitative responses and interpretive analysis, structured to make the key challenges and variations clear.
Reactions and perspective When asked in April and May 2026, “In relation to the war in the Persian Gulf and your medtech business, how has your business reacted?”, respondents gave the following picture: ■ Asia-Pacific respondents were unanimous (100%) that the war would not affect them, so there has been no change.
■ In Europe, business reactions are split. About one third reported no expected impact, and another third are waiting to see what happens, and the remainder have begun emergency planning.
■ In North America, none claim “no change”; nearly 88% are still “waiting to see”, and around 13% have started emergency planning.
Asia-Pacific companies may either feel insulated (through stockpiles, alternate supply routes, for example) or underestimating the risk. European companies are more evenly divided between optimism and precaution, but overall, European medical device manufacturers are more likely to take a precautionary approach to business continuity. North American firms acknowledge risk but are mostly holding off active response, likely due to uncertainty or cost concerns.
33%
When the question “Has your medical devices business been adversely affected by the crisis...?” was asked in July and August 2026, more than half of Asia-Pacific and Europe, and 45% in North America, responded, “No, not affected, and we don’t expect difficulties.”
Asia-Pacific: 36% said they were affected, but thought the worst is over; Europe (17%) and North America (~9%) similarly report some effect but past peak. In Europe, around one third say difficulties are still mounting. North America firms say around 20%, and for Asia-Pacific manufacturers, less than 10%. Over
www.medicaldevice-developments.com
Respondents
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