Covid-19 briefing

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- 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.

2022

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,

3.7%

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.

ECONOMIC RECOVERY

- SECTOR IMPACT: MEDICAL DEVICES -

Latest update: 2 February

2022

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.

6month

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

Diagnostic Imaging Devices

In response to the emerging trend of post-COVID myocarditis, new clinical guidelines have designated cardiac magnetic resonance (CMR) as a Class I recommendation for chest pain. As a result, demand for CMR is expected to increase exponentially.


Drug Delivery Devices

The University of Melbourne and Monash University have initiated a study to look at the utility of an at-home nasal spray treatment for Covid-19. Studies revealed that intranasal heparin may be an effective way to prevent Covid-19 infection and spread, as it mimics the heparan sulfate on the surface of nasal cells lining the nose that the SARS-CoV-2 virus binds to before infection.


Ear, Nose and Throat Devices

Sonova Holding AG, a leading provider of hearing solutions announced its results for the first half of the financial year 2021/22. Despite headwinds related to the COVID-19 pandemic and supply chain challenges, the company saw H2 revenues up by 48.5%. The outlook is for a 24–28% increase in revenues, though supply chain issues might continue to cause problems.

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