Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 19 May
The global economy is forecasted to return to pre-crisis levels by the end of 2021 or early 2022.
The unemployment rate in OECD nations stood at 6.5% in March 2021, down from 6.6% in Feb 2021.
The EU Commission has raised the Eurozone's economic growth forecast for 2021 to 4.3% from its earlier projection of 3.8%.
Global debt declined by $1.7tn to $289tn in Q1 2021, for the first time in the last ten quarters, according to the Institute of International Finance.
Impact of Covid-19 on equity indices
- SECTOR IMPACT: MEDICAL DEVICES -
Latest update: 06 May
industry response issues
GlobalData estimates that a 70% reduction in procedure volumes occurred in Q2 2020 as a result of Covid-19
Only 14% of GlobalData poll respondents felt that PPE supplies have been enough and are reaching all those in need, with 6% of respondents unsure
Medical value chain 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.
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.
The need for devices will grow above pre-Covid-19 levels due to the increased number of procedures to catch up 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