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.


According to the OECD, the unemployment rate in OECD nations stood at 6.2% in July 2021, down from 6.4% in June 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


Latest update: 15 September

industry response issues


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.


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

Diabetes care devices

The diabetes care market was relatively unaffected by Covid-19. The revolution of diabetic management continues amid Covid-19, led by continuous glucose monitors (CGM).

Abbott and Dexcom both reported strong double-digit growths in Q2. However, not all have benefited from the CGM boom. Medtronic reported its diabetes revenue of $572m, with a flat growth of 2% in the period from May to July 2021.

Diagnostic imaging devices

The number of people getting mammograms is down globally due to Covid-19. At the start of the pandemic, several diagnostic imaging procedures, including mammograms, were delayed or cancelled. However, 18 months later mammogram numbers are still down.

In vitro diagnostic devices 

Currently the Centers for Disease Control reports that 48.7% of the total population has been fully vaccinated; therefore, a significant decrease in new cases would be expected, and Covid-19 testing would likewise decrease.

GlobalData expects that although the number of Covid-19 tests performed declined in the US in the first half of 2021, the combination of the Delta variant as the major Covid-19 strain, the plateau of the vaccination rate and new cases on the rise may result in an uptick of Covid-19 testing once more.

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