Covid-19 Impact Healthcare Market Research Report
COVID-19’s immediate and apparent potential impact has already resulted in the loss of thousands of lives and a considerable increase in healthcare costs. However, as previously stated2, 3, there is a strong chance that the number of fatalities lost has been overstated. The number of persons who die in the U.S. in any particular year follows a very stable curve that varies regularly throughout the year. The United States has diverged significantly from this curve in 2020.
Covid-19 Impact Healthcare Market
COVID-19 significantly influenced the healthcare industry, which was also faced with developing an effective response. As a result, all segments of healthcare’s likelihood of default scores declined in Q1 2021 relative to their highs in 2020.
After the cancellation of elective treatments early within the outbreak, hospitals and other providers have seen patient and optional procedure volumes rise to up to 95% of pre-pandemic levels. As COVID case numbers and immunization rates rise, investors will retain a careful eye on these measures.
COVID-19 treatments and vaccines have been created at an extraordinary rate by pharmaceutical and biotech businesses. The sale of coronavirus-fighting drugs is likely to bring in billions of dollars for some corporations. Others are gaining favour by promising not to profit from such products and volunteering their services and solutions to combat the pandemic.
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The Global Impact of COVID-19 has been covered for various healthcare sectors including medical devices/equipment, diagnostics, pharmaceuticals, technology, Healthcare IT, health insurance, medical tourism, and healthcare facilities.
The medical devices/equipment has been divided into medical ventilators, imaging devices, hospital beds, masks, personal protective equipment, sanitation, and nurse call systems. Medical ventilators are a key industry that has faced a rapid boom. The widespread use of ventilators during this COVID-19 outbreak has substantially raised the production bar of prominent players across the globe. Currently, there are about 170,000 ventilators in the US and another 12,700 in the National Strategic Supply, a cache of medical supplies maintained by the federal government to respond to national emergencies. Moreover, the prominent players are also keen on increasing their production capacities. This move has been worked out by many players, including Vyaire Medical, Hamilton Medical, and Medtronic, to sufficiently aid the medical facilities and hospital settings. The market for ventilators is expected to grow at a rate of more than 35% in the coming months as more players are manufacturing these products. In addition, the market in 2019 might not see the dominance of specific players. Furthermore, ease of regulation might increase the number of new entrants in the market.
The Impact of COVID-19 Outbreak on Healthcare Market has been divided, by region, into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The US is expected to account for the largest number of COVID-19 cases followed by Spain, Italy, Germany, France, and China. The study includes the impact of COVID-19 in North America with the US, Canada, and Mexico, whereas South America is categorized into Brazil and the Rest of South America. The countries included in the European regional study include Germany, France, the UK, Italy, Spain, the Netherlands, Belgium, Switzerland, and the rest of Europe. The impact analysis also covers Asia-Pacific segmented into Japan, China, India, South Korea, Australia & New Zealand, and the rest of Asia-Pacific. The study in the Middle East & Africa has been divided into Saudi Arabia, Iran, Africa, and the Rest of MEA.
The rise of digital health and Big Tech disruption
During the pandemic, any use of telehealth services increased, with Teladoc and Amwell, both publicly traded telehealth providers, stating that total visits higher than doubled in 2020.
More investment and acquisitions within the larger digital health field may be driven by robust utilization and consistent reimbursement. Healthcare professionals expect to invest in technology that enables patient monitoring and telemedicine, as per a poll conducted by 451 Research, a division of S&P Global Market Intelligence.
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