The medical industry is one of the fastest-growing and biggest sectors on the planet. Since the pandemic, this industry has grown substantially, with a wealth of new businesses and opportunities springing up.
Consequently, there have been calls from all corners to increase regulations within this sector. The introduction of the new IVDR regulation is a good start, but more needs to be done. Usually, regulations are seen as a negative thing that attempts to stifle and strangle businesses. However, in the case of the medical industry, there is no such thing as too much regulation. It is a very good thing, and here’s why:
It keeps people safe
One of the most important reasons for regulations and legislation in this sector is to keep human beings safe. The medical sector deals with so many different things that are aimed at people. This can include medication, surgical treatment and so on. Without regulation, companies would be free to do as they please without worrying about the repercussions on human beings. This could lead to all sorts of dangerous products or solutions released on the market.
Thankfully, there are rules in place that limit what makes it to consumers, keeping everyone as safe as possible. With new medical devices and products being created all the time, regulations must be updated and reinforced to ensure that the people are kept safe.
It stops quick cash grabs
Another key reason for more regulation is that it prevents people from making quick cash grabs to get money and leave. A prime example of this is the face mask situation during the pandemic. There are regulations in place that limit people from claiming face masks offer certain levels of protection. For example, you cannot state that your face mask is suitable for surgical use unless it passes various tests that prove so.
In the last two years, lots of people have been creating and selling face masks made from regular materials - like old clothing. This is allowed, but the public need to know that these masks offer minimal protection. Problems exist when someone sells masks like these, claiming they will offer the most protection possible or can be used in medical environments. This would be lying to the consumer, but it would also give the business owner a lot of sales because the masks look good. Regulations prevent this, stopping people from coming in and trying to make quick and easy money within the sector.
The bottom line is that we need to constantly update the regulations and legislation within the industry. Yes, it is important to have rules and laws across all industries. However, it is even more important in this field because it directly links to our health and wellbeing.
A medical industry without regulations would be detrimental to public health. Thankfully, we are seeing new ideas presented and passed all the time, so we can only hope that this continues in the future to keep people safe and prevent cash grabs.