- ECONOMIC IMPACT -

Latest update: 6 April 

Many economists have cut their GDP forecasts. The 2020 consensus forecast for GDP growth is currently negative and many predict a recession.

Unemployment rates are expected to rise in all major economies. The International Labour Organization estimates 25 million job losses worldwide.

1.5% - 2.4%

The OECD's forecast for global growth in 2020, with some consensus estimates being far lower.

$2-3 trillion

Expected reduction in investments in the commodity-rich exporting nations, according to UNCTAD.

Impact of Covid-19 on asset prices

- SECTOR IMPACT: MEDICAL -

Latest update: 6 April 

Infectious disease market impact

As demand for diagnostic kits grows, GlobalData forecasts that polymerase chain reaction (PCR) systems will be one of the fastest-growing aspects that drive the infectious disease segment of the in-vitro diagnostics space.

$7.6bn  ->  $8.4bn

2019

2025

Expected growth of the infectious disease market at a compound annual growth rate (CAGR) of 2.2%

Respiratory devices market impact

4.8%

GlobalData’s forecast CAGR of the respiratory devices market 2019-2025, driven by an increase in patients requiring respiratory support in the short and long term.

Key mediCal market developments

In-vitro diagnostics

Supply issues of test reagents continue, particularly in countries reliant upon ad-hoc test protocols that are dependent on so-called home brew reagents. Germany is expected to have the highest testing rate worldwide with 8,063 tests for Covid-19 per million people. The US and the UK are testing 3,605 and 2,456 per million people, respectively.  Nine rapid test format serology tests are undergoing assessment in the UK, with mixed results.


Respiratory devices

The ventilator market is expected to expand dramatically due to the increase of patients with acute respiratory diseases. Efforts by non-traditional manufacturers continue as 880,000 more ventilators are in demand globally. The UK Government has revised the expected delivery of ventilators from 30,000 to 18,000 machines and issued specification for a rapidly manufactured CPAP system.


Hospital supplies

Due to increased demand for emergency and critical care equipment, GlobalData expects the spend for disposable hospital supplies to increase substantially from the current estimate of £16.4bn, with a potential additional $8bn spend worldwide.


General surgery, cardiovascular and orthopaedics

The impact of the downturn in elective procedures due to Covid-19 on other medical sectors is beginning to emerge as 15%-30% of elective surgeries are likely to be cancelled due to measures put in place to prevent further spread of infections.

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