Covid-19 briefing

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- ECONOMIC IMPACT -

Latest update: 21 October

Many economists have cut their GDP forecasts. The 2020 consensus forecast for GDP growth is currently negative and many predict a recession.

World Trade Organization forecasts the volume of world merchandise trade to shrink by 9.2% in 2020, followed by an estimated rise of 7.2% in 2021.

-4.4%

IMF has revised its 2020 global GDP forecast to -4.4% from an estimate of -4.9% made in June.

2022

Dun & Bradstreet believes the global economy is unlikely to reach pre-pandemic level output before 2022.

Impact of Covid-19 on equity indices

- SECTOR IMPACT: MEDICAL DEVICES -

Latest update: 02 November

Anesthesia and Respiratory Devices

2,150

According to a report from the National Audit Office in the UK, only around 2,150 mechanical ventilator units had been dispatched to the National Health Service by September.

10%

The regional anesthesia disposables market was valued at $910m prior to Covid-19, and is expected to have a 10% decline in 2020.

wearable device market impact

Wearables are proven to be a great source of monitoring, collecting, and predicting Covid-19 symptoms without having a face-to-face appointment with a patient.

Wearables could include a variety of health trackers, including electrocardiogram, skin temperature, and electrodermal activity sensors that allow them to track various health-related statistics in real time.

This viable information can then be sent via the internet to a patient’s primary physician, keeping them informed and able to make accurate decisions about treatment without seeing the patient in person.

Although previously, wearable tech was mainly avoided by consumers due to high prices, rapid technological innovation has enabled decline in prices, making wearables more attractive to the average consumers. Therefore, consumers may be more willing to use remote patient care with wearable tech now than prior to the pandemic.

Key Medical device market developments

Diagnostic imaging devices

Diagnostic imaging has been negatively affected by Covid-19 as elective and non-essential medical procedures were reduced. In its Q3 FY2020 report, Canon Inc. reported a decline in medical system sales and profit due to postponement of equipment purchases by hospitals. However, procedure volumes are quickly recovering.

Ear, nose and throat devices

As the number of new Covid-19 cases has once again soared around the world, the new phase of the pandemic is creating uncertainty for ear, nose and throat (ENT) procedures to resume at pre-pandemic levels within the near future.

Many hospitals have opted to only resume outpatient procedures for elective surgeries, so many common ENT procedures like cochlear implantation and functional endoscopic sinus surgeries may not see a resurgence of additional delays or cancelations.

General surgery devices

The Covid-19 pandemic has negatively impacted many general surgery device markets. Soon after Covid-19 was declared a pandemic, many surgeries in the US and abroad were cancelled and postponed. Markets that were more severely impacted were those including devices used mainly for elective surgeries, as most of these procedures had been delayed.

05/22/2024 21:21:54