- 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.

-4.9%

The IMF predicts global growth will decline by 4.9% in 2020, down 1.9% from its April forecast.

$8.5tn

Global economic output will fall by $8.5tn over next two years, according to the United Nations World Economic Situation and Prospects.

Impact of Covid-19 on asset prices

- SECTOR IMPACT: MEDICAL -

As of 01 July 2020

In Vitro Diagnostic Devices

In the US, routine testing, which includes testing for cholesterol, glucose levels, complete blood count, and hemoglobin, was reported to be down between 40% - 55% by leading commercial diagnostic labs Quest Diagnostics and LabCorp during the first quarter of 2020.

15%

GlobalData estimates that 2020 hip reconstruction revenue in the 5EU will decline by over 15%, to around $1bn, and by 12% in the US. 

General Surgery Devices

29

In the US, 29 states have allowed the resumption of general surgeries but under strict guidelines to prevent further Covid-19 infection. 

Key mediCal market developments

Supply chain and demand disruption

A contract for the supply of PPE worth $138m was awarded by the UK Government Department of Health and Social Care to Crisp Websites, a supplier of equipment to the pest control industry, amounting to around one third of the total departmental spend on healthcare PPE


An order of 10 million protective masks, made via the EU’s common procurement process, was suspended after significant certification irregularities were found within the first 1.5 million delivered by Chinese suppliers.


Diagnostic imaging devices 

GE Healthcare has released a new Thoracic Care Suite, a collection of AI algorithms that quickly analyse chest X-ray images, including for symptoms of Covid-19 infection, speeding up and streamlining imaging analysis for Covid-19 patients. After the pandemic subsides, continued use of a workflow involving AI will enable more patients to be imaged in a faster time.


Ophthalmic Devices

Countries are re-introducing elective and non-essential care, with several governing bodies publishing guidelines on reopening at each stage of lockdown. England and Wales have entered the “amber phase” where clinical tests and appointments may be scheduled with social distancing measures in place. Physicians have noted concerns that the lack of access to ophthalmic care for longer periods may result in a higher rate of vision loss, particularly in older adults.

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