COVID 19 Impact on Healthcare Industry | Healthcare Market Future Outlook: Ken Research

The COVID 19 impact on the healthcare sector has led significant modifications in the operation of both the private sector and government sector offering all the support such as testing support, preparing isolation beds for the treatment of COVID-19 positive patients, deploying equipment and staff in the identified nodal hospitals. The Healthcare Market Analysis has been observing business loss and this trend is further expected to continue its impact in the upcoming period, sector’s costs, business losses, and severe impact on cash flows. In addition, the continuous increase in positive cases led to the demand for medical ventilators globally. Based on research studies conducted by different agencies approximately 5% of positive COVID-19 cases are severe and require ventilators for breathing. This has resulted in a rise in demand for medical ventilators across the globe.

The ventilator companies have further extended their production capacity in order to meet the ongoing demand. The healthcare will continue to be one of the most impacted sectors as patients are focusing on life-critical surgeries and elective procedures being completely side-stepped. In the medical devices segment, there have been major distresses related to supply chain management, raw materials procurement, and many others. This concern is being further compounded by the inverse duty structure which favours the finished products over raw materials, therefore, leading to support for domestic producers of devices. Most of the healthcare segment companies which have been previously being either unknown or were not given much of the importance. As per the current scenario, they have drawn a lot of focus on the healthcare industry and its contribution.

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The Coronavirus Impact on Healthcare Sector and the healthcare companies supplying are varied by company, time period, and often by geography. The clear understanding of the variations, time-frames, and geographic differences will be important for the healthcare company leaders which may plan to adjust strategies to address new normal. The pandemic is also leading to long-term healthcare reform trends which involve expansion in term of access, cost control, and technological features accelerating in light of such crisis, necessitating companies to discourse near-term disruptions and also adopting new viewpoints and business models to flourish new scenarios that emerge on the other side of the crisis.

There has a wide-scale modifications on public policy measures implemented to comprehend the spread of COVID-19, these measures have further resulted in striking operational disruption for many companies. The concerns related to staff quarantine, supply-chain failures, and sudden reductions in customer demand have further led to serious worries for companies across a wide range of sectors than being initially anticipated. Despite the current crisis being a healthcare issue, the private healthcare system continues to analyze the negative impact of COVID-19. There has been a significant decrease in both in and out-patient over private hospital chains including single specialty, multi-specialty, tertiary-care hospitals, or even diagnostics businesses, during this lockdown. This unexpected decline in business has an immediate effect on hospitals' capability on sustaining the fixed costs. Further, the inability of new centers/hospitals to find it difficult to operate a business for meeting out debt repayment obligations, staff salaries, and business credit associated with vendors are some of the many factors impacting the sector in the near term.

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