Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 16 December
Many economists have cut their GDP forecasts. The 2020 consensus forecast for GDP growth is currently negative and many predict a recession.
The unemployment rate in South Africa reached a 17-year high of 30.8% in Q3 2020 as people started looking for jobs following the easing of coronavirus restrictions.
Consensus forecast for GDP growth is currently -3.8%, with negative GDP growth expected in all countries except China
Real GDP growth in the UK slowed to 0.4% in October from the 1.1% growth recorded in September 2020.
Impact of Covid-19 on equity indices
- SECTOR IMPACT: MEDICAL DEVICES -
Latest update: 02 December
financial impact and relief
The US Congress appropriated $100bn in the Coronavirus Aid, Relief and Economic Security (CARES) Act (PL 116-136) and $75bn through the Paycheck Protection Program and Health Care Enhancement Act (PL 116-139) for healthcare providers.
3M announced that its Q3 healthcare sales rose 25.5% year-on-year, likely due to increased demand because of the backlog of procedures during Covid-19 lockdowns.
wearable device market impact
Wearables are proven to be a great source of monitoring, collecting, and predicting Covid-19 symptoms without having a face-to-face appointment with a patient.
Wearables could include a variety of health trackers, including electrocardiogram, skin temperature, and electrodermal activity sensors that allow them to track various health-related statistics in real time.
This viable information can then be sent via the internet to a patient’s primary physician, keeping them informed and able to make accurate decisions about treatment without seeing the patient in person.
Although wearable tech was previously avoided by consumers due to high prices, rapid technological innovation has enabled a decline in prices, making wearables more attractive to average consumers. Therefore, consumers may be more willing to use remote patient care with wearable tech now than prior to the pandemic.
Key Medical device market developments