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Adam Davidson, Research Analyst II, Healthcare Technology, Omdia | Apr 12, 2020
The novel coronavirus (COVID-19) is now a global pandemic and confirmed cases and deaths are dramatically escalating. Beyond its human toll, COVID-19 is having a sizable economic impact. Many nations have shut down all non-essential business, which has devastated the global economy. National governments are now providing stimulus packages, which are injecting money into specific markets to address the severity of COVID-19 and its implications.
Nearly every industry has been touched in one way or another by COVID-19, but the healthcare market has experienced one of the most direct impacts. For many medical equipment markets, the pandemic’s impact is largely predictable—systems essential to diagnosing, monitoring, and treating COVID-19, like ventilators, patient monitoring solutions and digital X-ray, are experiencing exceptionally high demand and receiving the necessary funding, leaving little remaining budget for non-essential systems like MRI and interventional solutions.
However, the prospects for medical imaging modalities, such as ultrasound, that fall somewhere in between essential and non-essential equipment are not as cut and dried.