Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 20 October
The global economy is forecasted to return to pre-crisis levels by the end of 2021 or early 2022.
The Institute of International Finance forecasts the real GDP growth rate of the UAE to rise by 4.9% in 2022.
According to the World Bank, the sub-Saharan African region is forecasted to grow by 3.3% in 2021.
World economic growth is projected at 5.7% in 2021 and at 4.5% in 2022, according to HIS Markit.
Impact of Covid-19 on equity indices
- SECTOR IMPACT: MEDICAL DEVICES -
Latest update: 07 October
industry response issues
After sharply contracting to $4bn in 2020, GlobalData found the neuromodulation market sharply bounced back to $5.7bn in 2021.
GlobalData expects the global ventilator market value to be $2.6bn in 2021, a decrease of 73.4% from the height of the pandemic.
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 with 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