It might not make sense to you if you think about the industry as if it was in the consumer product market, with a wide range of substitutes and a high degree of information. That doesn’t describe the market here.
For a more detailed discussion of how different the market is, you can read the following. One thing to note is how often more expensive higher tech devices don’t produce measurable improvements in outcomes:
The medical device industry doesn’t care about developing the high volume/high quality/low profit per unit model that you see in flour or deck screws. They operate in a world where lobbying to restrict information and using IP lawsuits to constrict competition and decrease supply is standard operating procedure.
For a sense of how just a fraction of their lobbying dollars are spent at the expense of quality, read here:
Overall lobbying spending by the device manufacturing industry is generally aggregated with the phamaceutical industry because companies like Bayer and Johnson and Johnson manufacture large quantities of both. But combined they are the single biggest source of lobbying dollars in DC, spending almost $300 million in 2019.
Note that the lead organization cited (NY Times, Politico for example) as fighting the use of the Defense Production Act is the US Chamber of Commerce, citing fears of government mandates over production. The US Chamber and medical device industry are closely intertwined, with a major percentage of Chamber funding coming from the industry, and detailed histories of the ACA fight in 2009 will spell out how the Chamber was the front for the industry’s efforts to fight Obamacare. The Chamber continued this role of fronting for the industry over the following years, making repeal of a tax on the industry one of its key legislative priorities.
I suppose it’s theoretically possible that the Chamber and the device industry have had a secret divorce in their very expensive relationship over the past year and the Chamber isn’t carrying water for them, I really doubt it, though.