Impact of COVID-19 Outbreak on Healthcare Market Size 2021: Market Growth, Demand, Trends, and Future Opportunity By 2027
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.
At
the time of evaluating the impact of COVID-19 outbreak on healthcare market the
total positive cases reached 1,350,357, the death toll came out to be at
74,866, whereas the total recovered population is 287,481. It has been observed
that countries such as South Korea, Taiwan, and Singapore have controlled the
spreading of COVID-19 before it could reach the community level.
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Impact of COVID-19 Outbreak on Healthcare Market Research
COVID-19
significantly influenced the Impact of COVID-19 Outbreak on
Healthcare Market 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 favor by promising not to profit from such products and volunteering
their services and solutions to combat the pandemic.
Segmentation
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.
Regional
Analysis
The
Impact of COVID-19 Outbreak on healthcare assets 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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