关税作为转折点：医疗技术如何大胆抓住时机，打造一个有弹性、数字化驱动的未来

The fallout is already visible. Stryker1and Johnson & Johnsonhave projected $200 million and $400 million hits to theirMedTech earnings, respectively. If current trends persist, 2026will bring more challenges. In short, this isn’t a temporarydisruption—it marks the start of a multi-year challenge.At the heart of the issue is a business model that hasn’t keptpace with the shift from exclusively hard goods to a digitalinclusive mix. Heavy reliance on hardware and hard productsmeans MedTech companies are particularly vulnerable tosourcing and import/export issues like tariffs. When thosepolicies shift on a weekly basis, it is increasingly difficult tomanage profit and long-term revenue.It is estimated that nearly 70% of MedTech devices sold in theUS are manufactured or have components sourced globally3.Once a strength, complex supply chains now pose a liabilityin an ever-changing healthcare landscape. At the same time,Introduction1https://www.medtechdive.com/news/stryker-200m-tariff-hit-earnings-forecast/747011/2https://www.medtechdive.com/news/jnj-tariff-costs-400-million-2025/745357/3https://www.knobbe.com/blog/u-s-tariffs-and-the-medical-device-industry/4https://flgpartners.com/2025-biopharma-medtech-ipo-landscape/In early 2025, the United States introduced sweeping tariffs that have shaken global industries—MedTech included.For a sector dependent on global supply chains and hardware-centric models, the impact has been immediate andsevere both for U.S. companies and the global organizations that do business with them. 2aging populations and growing pressure within healthcaresystems is driving down spending, while events like Covid-19are increasing expectations around access to healthcaresystems and treatments. U.S. tariffs are now squeezingalready thin margins, raising material costs, and forcingcompanies to hold excess inventory, which is driving evenfurther challenges.In 2024, MedTech companies were generally operatingbetween 50–60% gross margins4, though these numbers canvary significantly. Now with tariffs as an additional factor,companies face a choice: Pass rising costs on to the marketand exacerbate healthcare affordability or absorb the costand erode profitability.But there is a third—and more strategic—path: Expandingdigital offerings to not only offset tariff costs, but to build amore resilient, profitable, and future-ready business model. The time to act is nowAs tariffs reshape the global landscape, organizations arebeginning to explore new business opportunities and models,ranging from digital as a value add, to hardware as a loss-leader for digital revenue, to standalone digital revenue.Whether you have just begun or already have an active digitalstrategy, it is crucial that MedTech organizations begin torely less on hardware and build a more digitally balancedOver $10BPercentage706050403020100Figure 2: Percentage mix of hardware vs. digital product revenue by MedTech company revenue size $5-10B Revenue Tier 4Tariffs as a turning pointAs time goes on and the uncertainty of the markets continue,the MedTech industry will become more competitive. Iforganizations have not found a way to offload tariff impactsand improve their cost structure, managing market volatilitywill become more difficult.In 2025, we’ve seen the impact of tariffs on margins andrevenue, with many already reducing forecasts and earningsstatements. In 2026 and beyond, this will evolve into aconversation about additional earnings impact, workforceimplications, cost cutting measures, and impact on payers andproviders.It is crucial that decisions made by MedTech leaders are notjust focussed on the now, but also the future, with thoroughmarket research, long-term strategy, and a strong ecosystembeing key to any transformation.Tariff volatility is not just impacting manufacturers—it isalso impacting customers as well. The margins of hospitals,provider systems, and public health organizations around theworld are also under pressure, prompting these organizationsto look for cost savings through digital efficiency.For example, in the Netherlands, the government is set toclose the “zorgakkoord” (healthcare agreement) with a focuson AI investments that use digital to drive efficiencies up andcost down. This is just one signal of a growing shift in marketdemand to a more digital inclusive product mix. portfolio. Digital products and platforms play an essentialrole in reducing risk, protecting margins, and securing long-term growth.This moment isn’t just a temporary disruption in the U.S.—it’sa global turning point. The companies that act now will definethe future of MedTech.Under $5BHardwareDigital/Software Driving new revenue modelsThe companies best positioned to weather this impact willbe those that act quickly, proactively reducing reliance onlegacy hardware and investing in digital recurring revenuemodels (DRR). This, amongst other strategies, is one of themost significant changes to hit the industry in recent times.While this s