- Ut imperdiet leo id lorem fermentum consectetur.
- Ut vitae orci et dui varius tincidunt.
- Ut id magna non libero vestibulum pharetra ac faucibus nulla.
Market Research & Insights
Impact of COVID-19 pandemic on medical devices market

Market Research & Insights: The COVID-19 pandemic is leading to significant growth in demand for medical devices such as ventilators, medical clothing, face masks, and diagnostic devices such as test kits, whereas the revenue of companies, whose products rely heavily on elective and non-essential procedures, are expected to be impacted negatively.
Many medical device companies have revised their financial guidance for 2020 due to the uncertainty associated with the degree and duration of the impact of the outbreak.
The short-term impact of COVID-19 is expected to cause a decline in annual growth rate of the global medical devices market from 5.4% to 3.0% in 2020. The global medical devices market, which was projected to be worth USD 472 billion in 2020 before the COVID-19 outbreak, is now expected to generate USD 461 billion this year.
Customer engagement during COVID-19. Fill the gap of reduced field force activities. Health Industry Hub combines expertise in delivering digital health content with high engagement and 20+ years industry experience. Created by industry for industry. Contact us.
Key Reasons for the Impact
Delay in Elective Surgery
Elective procedures have been delayed as countries divert their healthcare resources to contain the COVID-19 pandemic.
The impact of the delay in elective procedures on the demand for medical devices is significant as these types of procedures account for around 40% – 50% of the hospital’s revenues in some countries.
Supply Chain Disruptions
The supply of medical devices or the raw material required for the manufacturing of medical devices have been disrupted as many countries went into lock-down. The forced quarantine in China hit the supply-chain the hardest as the country transitioned from being a key player in the manufacturing of low-end to high-end medical devices.
With a significant increase in the demand for certain medical devices, some countries halted exports, especially the devices that are vital in fighting against the COVID-19 outbreak.
Impact of China
Register FREE and join 22,000+ industry professionals receiving the latest industry news and engaging content from Health Industry Hub, the ONLY one-stop-hub connecting Australia’s Pharma, MedTech and Biotech industry professionals.
China, which accounted for around 7% of the global medical devices market, was projected to grow at a CAGR of around 10% in the 2018 – 2025 period before the outbreak. The demand for medical devices is expected to decline considerably in the first quarter of 2020 in China and impact the revenues of all major medical device companies.
Segments with Low Level Exposure to COVID-19
- In-vitro Diagnostics
- Diagnostic Imaging
- Respiratory Care
- General Hospital and Healthcare Supplies
Segments with High Level Exposure to COVID-19
- Orthopaedic Devices
- Cardiovascular Devices
- Minimally Invasive Surgical Devices
- Dental Equipment and Devices
- Diabetes Care Devices
- Ophthalmic Devices
Human Resources

Sanofi recognised as a Top Employer for the third consecutive year
Pharma News: For the third consecutive year Sanofi has been officially recognised by the Top Employers Institute as Top Employer […]
MoreNews & Trends - Medical Technology

Demand for cancer surgery set to surge
MedTech News: A new modelling study led by UNSW predicts demand for cancer surgery will rise by 52% within two […]
MoreHuman Resources

Boehringer Ingelheim claims ‘Global Top Employer’ award
Pharma News: Boehringer Ingelheim has been named one of the world’s 16 best employers in the Global Top Employer 2021 […]
MoreDigital & Innovation

Breakthrough 3D printing technology for surgical bone repair
Digital & innovation: Scientists from UNSW Sydney have developed a ceramic-based ink that may allow surgeons to 3D-print bone parts […]
More