Latest update: 18 August

The global economy is forecasted to return to pre-crisis levels by the end of 2021 or early 2022. 

According to the OECD, the unemployment rate in OECD nations stood at 6.4% in June 2021, down from 6.5% in May 2021.


The EU registered stronger than expected real GDP growth of 13.2% (YoY) and 1.9% (QoQ) in Q2 2021.


JP Morgan expects the South African economy to contract by 3% in Q3 2021 after riots broke out in several parts of the country.

Impact of Covid-19 on equity indices


Latest update: 03 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

General surgery devices

Despite case counts returning to record levels across many countries, even amid a massive global vaccination campaign,
the market for general surgery devices is unlikely to be significantly impacted moving forward.

Medtronic, the world’s largest medical devices company, recently reported in its Q1 FY2022 earnings that its medical surgical portfolio has continued to grow even when compared to pre-pandemic levels.

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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