Whitepaper: Impact of the COVID-19 Pandemic on MedTech
4 major trends that are impacting the MedTech industry.
The COVID-19 pandemic is not only a human tragedy that has affected millions of people all over the planet; it is also having a massive impact on our global economy and we have yet to develop a robust exit strategy out of the crisis that will minimize the risk of a resurgence in new cases. Few industries have been left untouched by the outbreak – and the MedTech sector is certainly no exception. In fact, many MedTech companies now find themselves at the very epicenter of the crisis.
To assess how COVID-19 is affecting the MedTech sector, we use this Whitepaper to analyze four key areas. In particular, we will focus on:
- How demand is outstripping supply for some crucial devices needed to save lives and prevent infection during the pandemic
- ...and sharply dropping for other devices, e.g. those used in elective procedures
- The way in which the crisis is fostering innovation and digital transformation in the healthcare sector
- The impact on the EU Medical Device Regulation (EU MDR).
We will also highlight how new alliances are forming between very different kinds of companies in the interest of combating the disease spread.
Of course, the situation is constantly evolving and not set in stone, so our findings are based on a snapshot from April 2020.
The outbreak has exposed many flaws in our global healthcare system. At the same time, however, it has spurred unprecedented levels of innovation across nearly all industries. If Coronavirus has taught us one thing, it’s that we need to expect the unexpected and be prepared for sudden economic changes at all times. For MedTech companies, this means ensuring sufficient stock of certain devices that could be crucial in a future airborne pandemic, and having a strategy in place for being able to diversify products, should demand suddenly drop with no pre-warning.
We're curious to see what the coming year will bring for MedTech and hope that you will enjoy browsing through this slide deck. If you have any questions or feedback, please feel free to contact us at hello@climedo.de.
About Climedo Health
Climedo Health’s mission is to bring the best treatment to every patient by empowering healthcare professionals with intelligent software solutions.
Together with Europe’s leading hospitals, they have developed a cloud-based platform for cutting-edge clinical validation of medical devices and pharmaceutical products.
By digitally connecting all stakeholders (Medical Device manufacturers, Pharma companies, CROs, hospitals and patients), Climedo allows for increased performance, better cost-efficiencies - and ultimately - accelerated medical innovation. Learn more: www.climedo.com.