The Elements Of Medical Supplies
Volatility In Commodity Markets Creates Pressure On Costs
Volatility in commodity markets is a key factor putting pressure on the cost of medical supplies. This infographic focuses on four key raw materials used to manufacture medical supplies.
Stainless Steel Sutures
Russia is the world’s 3rd largest producer of nickel. Market volatility following the Russian invasion of Ukraine caused nickel prices to spike, doubling in a matter of hours to over $100,000 per ton.
War in Ukraine has disrupted shipping routes from key suppliers of chromium in Central Asia. Prices for ferro-chrome ore have increased more than 40% since the beginning of March.
Source: Argus Media
Aluminum shortages have raised prices to their highest point in over a decade. A lack of crutches, walkers and wheelchairs have forced providers to ask for donations.
Chip shortages have been exacerbated by rising demand for medical devices used to treat COVID-19 in emergency rooms and intensive care units.
Source: Wall Street Journal
Find more resources about the healthcare supply chain on HIDA’s Understanding Healthcare Distribution page.