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 predicts global growth will decline by 4.9% in 2020, down 1.9% from its April forecast.
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.
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
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
Share this article