Five Lessons from MD&M West 2020
Specialty Silicone Products (SSP) recently attended MD&M West 2020, the world’s largest medical design and manufacturing event. From February 11 to 13, we met with companies from across the medical device industry and from around the world. In case you weren’t able to join us in Anaheim, we’d like to share five lessons from MD&M West 2020 that could benefit your business.
Too Many Terms and Conditions
Terms and conditions have become giant speed bumps for small-to-medium sized companies. As visitors to the SSP booth explained, it takes too long to review and revise pages upon pages of documentation. In fact, the back-and-forth over wording is delaying first orders and samples. Concerns about compliance are also slowing the pace of business.
REACH and RoHS are Confusing
Two European Union standards, RoHS for electronics and REACH for chemicals, seem especially confusing. With silicones, there are plenty of questions about what is and what isn’t REACH compliant. To help close this knowledge gap, SSP is preparing to publish an interview with Sarah Lewis, Ph.D., our R&D Manager. We hope this information will answer FAQs about REACH and a group of substances called cyclics.
Silicone is Popular and Available
The world’s aging population is driving the rising demand for silicones in healthcare. The presence of all of the major silicone suppliers at MD&M West 2020 provided additional proof of silicone’s growing popularity. SSP met with major players like Momentive, Wacker, RDAbbott, Nusil, and Elkem at the show. All of these companies made it clear that silicone is no longer in short supply.
Worries About Corona Virus Were Apparent
There were many empty booths at MD&M West 2020 because of the Corona virus. Many Chinese companies couldn’t travel outside of their country and had to cancel their tradeshow plans at the last minute. Many attendees and exhibitors chose not to shake hands, and almost every booth had a bottle of hand sanitizer. In addition, several people at the show were wearing surgical masks.
SSP’s supply chain has not been affected by the Corona virus since we buy most of our raw materials from the United States and Europe. We maintain close communications with all of our suppliers and continue to monitor the situation.
Expect More Mergers and Acquisitions
Acquisitions are still a hot topic in the industry. Several brokers and M&A specialists walked the show in search of small-to-medium sized companies to acquire. Rates are still low and the growth through acquisition model is popular. Moreover, many third and fourth generation family-owned companies are looking for the right buyer and the best for their employees. These are not easy decisions to make.
Talk to SSP to Learn More
Would you like to hear more about what SSP learned at MD&M West 2020? Do you need a reliable supplier of medical silicones? Our SSP-2390 series of high-purity, platinum-catalyzed, translucent silicone elastomers is FDA CFR 177.2600, USP Class VI (base material), and RoHS compliant. SSP also has a new USP Class VI conductive elastomer that we previewed at MD&M West 2020. Contact SSP on-line or email Dominic Testo to learn more.