Life Science Intelligence Blog

Topic/Category: Surgery/Procedures

The global impact of COVID-19 is a chain reaction felt across the entire healthcare industry. According to Medtech market intelligence provider, Life Science Intelligence (LSI), many of the largest medical device & diagnostics companies were suddenly at risk of losing revenue by as much as 90%, while others, like manufacturers of medical masks and ventilators, and producers of COVID-19 diagnostics, saw a doubling in profits that exceeded supply. This chain reaction interconnects how medical equipment, supplies, and technology directly tie to the pandemic’s effect on general surgical procedures in the US.

Medical Devices & Diagnostics (MD&D) companies know they are being impacted by the current pandemic and are seeking independent research to quantify how much their markets will decline or increase, how long the recovery will take, and what factors will determine that recovery.

This new study quantifies and forecasts the impact of the Coronavirus pandemic on key medical devices & diagnostics markets and the suppliers to those industries.

The global market for respirator masks was estimated to be 5 billion units per year prior to the outbreak and is now expected to exceed 100 billion units in 2020; assuming the virus will be contained and the incidence of new infections subsides by end of 2020. The price of masks has been soaring and are selling at more than 10 times standard prices in many cases. China has been the main supplier of personal protection equipment, which further complicates the current market dynamics.

Life Science Intelligence (LSI) has been tracking and publishing market data on the global surgical apparel market and protective personal equipment (PPE) market for the last decade. LSI’s new market report, Global Opportunities in Surgical Masks and Respirators Market - Impact Analysis of Coronavirus Outbreak provides a reliable and independent forecast of the COVID-19 impact to these markets.