Regulatory Approval and Compliance Challenges: The company faces risks related to obtaining and maintaining necessary regulatory approvals for its medical devices, along with compliance with evolving healthcare laws and regulations globally.

Product Liability and Patient Safety Risks: Avanos is exposed to potential product liability claims and the costs associated with product recalls or safety alerts if its medical devices are found to be defective or cause harm to patients.

Intense Competition and Market Pressure: The medical device industry is highly competitive, and Avanos may face pricing pressure, market share erosion, or the inability to compete effectively against larger or more specialized rivals.