Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 16 February
After a widespread crash, markets have returned to pre-COVID valuations.
According to the IMF, global economic growth is forecast to slowdown to 4.4% in 2022, compared to the 5.9% growth recorded in 2021.
The Federal Reserve announced in December 2021 its plans to end its pandemic-era bond purchases in March 2022, paving the way for three interest rate hikes by the end of 2022,
The People's Bank of China slashed its key lending rates for corporate and household loans by 10 bps to 3.7% in January 2022, in a bid to cushion a slowdown in economic recovery.
- SECTOR IMPACT: MEDICAL DEVICES -
Latest update: 2 February
Expectations increase for elective surgery volumes to continue to recover during H1 2022 Telemedicine and minimally invasive technologies expected to make inroads in 2022
Phillips in its Q4 earnings reported a double-digit decline in its sleep & respiratory care business, mainly due to the recall of a large number of ventilators, bi-level positive airway pressure machines (also known as Bilevel PAP, BiPAP, or BPAP), and continuous positive airway pressure (CPAP) machines.
According to GlobalData's Clinical Trials Database, the six-month COVIDEX interventional trial is due to start at the end of January. The trial will compare the metabolic control of diabetic subjects infected with COVID-19 followed in teleexpertise to a group of diabetic subjects infected with COVID-19 managed in standard conditions. Abbott will be working with the University Hospitals of Strasbourg.
Medical value chain impact
During the early part of the pandemic, the dental industries was among the hardest hit, due to the nature of most procedures generating aerosols and the requirement for the dentist to be in close proximity to the patient. Digital technologies have the potential to reduce direct contact with patients, and improve overall safety.
Existing hospital infection control procedures have proven to be inadequate in preventing nosocomial COVID-19 cases and introducing more minimally invasive procedures supports overall efforts to improve infection control.
Key Medical device market developments