Latest update: 16 June

The global economy is forecasted to return to pre-crisis levels by the end of 2021 or early 2022. 

According to Istat, Italy’s economic growth is forecasted at 4.7% in 2021 and at 4.4% in 2022.


The OECD revised its growth forecast for the world economy to 5.8% from its earlier projection of 4.2% in December 2020.


The unemployment rate in OECD nations stood at 6.5% in March 2021, down from 6.6% in Feb 2021.

Impact of Covid-19 on equity indices


Latest update: 03 June

industry response issues


As a result of Covid-19 bringing purchases forward, GlobalData expects the ventilator market segment to reduce in value from $20.7bn in 2020 to $16.8bn in 2021.


GlobalData reported that the impact of Covid-19 reduced the Ophthalmic Devices market size from $6.37bn in 2019, to $5.48bn in 2020.

Medical value chain impact

Short-term impact

Logistics and dearth of device components supplies will be major issues for all. Most medical companies will show a decline in revenues in Q1 and Q2 due to the limited number of procedures being done.

Mid-term impact

As concerns over availability of materials subside, manufacturing process will begin to resume, though will initially lag relative to regular operations.

Developers of Covid-19 interventions could thrive; the bulk of the industry will be challenged with supply chain interruptions and limited procedures. Growth will be derived from opportunities to manufacture and support distribution of Covid-19 tests and test capabilities.

Long-term impact

The need for devices will grow above pre-Covid-19 levels due to the increased number of procedures to catch up with the delay. In some cases, not all missed procedures will be caught up. Sales volumes will increase as devices are sold to make up for the lack of procedures in early 2020.

Key Medical device market developments

Hospital supplies

Surveys by GlobalData show that the public has a strong tendency towards wearing face masks during the Covid-19 pandemic, indicating continued strength in this important segment of the personal protective eipment market.

When asked the question: “During the Covid-19 pandemic, how do you use a face mask?”, 45% of respondents answered that they use a face mask at all times whenever outdoors. Only 4% of respondents indicated that they never wear a face mask.

Diagnostic imaging devices

As the pandemic continues, diagnostic imaging labs are operating under their “new normal", with enhanced sanitation and social distancing procedures in place.

In some countries experiencing a recovery in Covid-19 cases due to widespread vaccination, diagnostic imaging labs are able to ramp up their procedures further, making up for cases that were delayed during the pandemic.

Drug delivery devices 

Concerns over infection risk as a result of Covid-19 are likely to affect the choice of long dwelling peripheral catheters, such as midline catheters, rather than short venous cannulas.

GlobalData reports the market size for midline devices to be $112m in the US in 2020. Despite the initial negative impact of Covid-19 in 2020, midline devices continue to grow
year-on-year in the US.

Share this article