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


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

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 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

Anaesthesia and respiratory devices

Covid-19 has seen global demand for ventilators increase dramatically. However, this may have the effect of bringing planned purchases forward, resulting in depressed demand once the worst effects of the pandemic have passed.

Draeger, the market leader of ventilators, experienced record order intakes in Q1 2020, but in Q1 2021 Draeger saw a year-over-year decline in orders by over 46%.

Healthcare information technology

The UK’s largest private hospital provider, Circle Health Group, has announced that Physitrack Limited has been chosen
to deliver new digital services for physiotherapy patients.

Physitrack will serve as a virtual tether with their patients and
will be able to prescribe remote home-exercise programs along with providing analysis of outcome measures and preand post-operative education via mobile applications.

Nephrology and urology devices 

From the start of the pandemic, Covid-19 has caused an increased demand for renal therapy, as the virus is known to impact kidney function.

Baxter’s Renal Care business segment grew by 6% to $922m in Q1 2021 in comparison to the Q1 2020 results. 

GlobalData expects growth to be sustained for the rest of the year, as the company continues to strengthen and invest in its renal care products portfolio.

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