Covid-19 briefing
Powered by
Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 15 September
The global economy is forecasted to return to pre-crisis levels by the end of 2021 or early 2022.
Reserve Bank of India forecasts the Indian economy will grow by 9.5% in 2021-22.
6.2%
According to the OECD, the unemployment rate in OECD nations stood at 6.2% in July 2021, down from 6.4% in June 2021.
5.7%
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: 15 September
industry response issues
28%
GlobalData estimates that the overall revenues of dental devices declined by 28% in 2020 compared to 2019. This represents a loss of $5bn in missed revenue.
19.4%
The global disposable hospital supply market is expected to grow to $26.72bn in 2021, at a CAGR of 19.4%.
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 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