Clinical Care Markets – Key learnings from the COVID-19 pandemic and subsequent market developments
Published: May 25, 2021
24th May 2021 – Written by Kelly Patrick – There was little known about the COVID-19 virus before it launched its devastating global attack. Healthcare professionals needed to treat multiple pathologies that patients succumbed to once contracting the illness. Over a year has now passed since the virus initially caused developed markets to lockdown. Despite a second peak in cases, hospitals were more prepared to help deal with the influx of patients, knowing what would help the most vulnerable and how to avoid further spread. However, the death toll still mounted, and several more lives were lost. The world has had to take note that healthcare systems were just not prepared to deal with such a catastrophic pandemic. However, will a third peak be fought with as much enthusiasm, or has the health system been through enough?
Initially in 2020, there was mass purchasing of clinical devices used in the diagnosis and treatment of COVID-19 patients such as patient monitors and ventilators. The ongoing general trend toward brand standardisation and cost-efficient devices was pushed aside, with a new attitude of ‘anything will do’. Lack of supply was the biggest concern, and if purchasers could not obtain their usual brand, they succumbed to what was available, especially in countries that were most devastated by the virus. This resulted in mixed fleets of devices and caused subsequent issues to ensure all caregivers were trained appropriately.
Signify Research has recently published its report on the global impact of COVID-19 on the core clinical care device markets including patient monitors, ventilators, anaesthesia devices, infusion pumps and diagnostic cardiology devices. The report provides an overview of the core impact of the pandemic on the demand for these devices. It also provides an overview of the developments expected in each market as healthcare professionals reassess the ‘new-normal’ in the provision of care moving forward.
According to the report’s author, Signify Research analyst Kelly Patrick, “The global impact and response to COVID-19 has been unique, both in terms of scale of impact and speed of spread. At the centre of the global response, governments and healthcare providers have been facing unprecedented challenges. The COVID-19 pandemic will change purchase decisions and cost will be more considered moving forward; purchasers are likely to focus on cost efficiency.”
The report highlighted the market drivers and inhibitors, in addition to the technological developments that have been seen in the last year and likely moving forward:
Patrick concluded ”The COVID-19 pandemic highlighted the lack of physician and nurse resource globally. Without any short-term improvement to staff levels the demand for intuitive solutions will continue to grow. This is increasing the interest for advance solutions that provide additional clinical support to create peace of mind for care providers”.
About the Report
“Market Impact Report – Clinical Care Devices Report – 2021” provides a data-centric and global outlook on the impact of COVID-19 on the major clinical care devices. The report blends primary data collected from in-depth interviews with healthcare professionals and technology vendors, to provide a balanced and objective view of the market. Signify Research is now further expanding its analysis of the ventilator and anaesthesia device market, looking specifically at deep-dive analysis of the demand changes by product and country. The new reports “Ventilators – World – 2021” and “Anaesthesia Devices – World – 2021” will be publishing later this year.
About Signify Research
Signify Research is an independent supplier of market intelligence and consultancy to the global healthcare technology industry. Our major coverage areas are Healthcare IT, Medical Imaging and Digital Health. Our clients include technology vendors, healthcare providers and payers, management consultants and investors. Signify Research is headquartered in Cranfield, UK. To find out more: firstname.lastname@example.org, T: +44 (0) 1234 436 150, www.signifyresearch.net
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Clinical Care DevicesPublished March 2021
Clinical Care Devices
This is Signify Research’s 2021 report on the Clinical Care Devices Market, which was published in March 2021.
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