Coronavirus (Covid-19) Executive Briefing
Understanding the economic impact of the Covid-19 pandemic and the implications for the healthcare sector
- ECONOMIC IMPACT -
Economists and institutions have cut their forecasts and experts are predicting the potential onset of recessionary environments.
Global companies are also concerned about the rising risk of Covid-19, with thousands of the world’s leading companies explicitly mentioning its impact on their business in their latest company filings.
The IMF estimates growth of -4.7% for the Middle East and Central Asian region.
Goldman Sachs expects UK unemployment to rise to 9.5% by December 2020 because its job retention scheme ends in October.
Maximum, Minimum and Mean of all new GDP growth estimates by week
- SECTOR IMPACT: MEDICAL -
As of 29 July 2020
Among the cardiovascular markets, pacemakers have been particularly hit by the pandemic. GlobalData estimates the US market for pacemaker devices was worth $782m in 2019, but as a result of Covid-19, the 2020 market value has been cut by around 50% of previous estimates for 2020, to $400m, with the market not recovering to a status resembling pre-Covid-19 until 2022.
The Spinal Fusion market is expected to contract by 15.7% in 2020, and slowly recover during 2021.
General Surgery Devices
In the US, more than 29 states have allowed the resumption of general surgeries but under strict guidelines to prevent further Covid-19 infection.
Key mediCal market developments
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