IMPACT OF CORONAVIRUS ON THE HEALTHCARE INDUSTRY
Healthcare market research companies played an important role during coronavirus disease 2019 (COVID-19).
The coronavirus pandemic has created new risks for patients and caregivers. Significant new security practices and costs will be the norm for years to come. This arrangement will be in place to eliminate any future viral threats.
New demand arose for PPE (personal protective equipment) such as masks, support such as pulmonary drugs and ventilators, and access to ICUs (intensive care units of hospitals).
COVID-19 appears to be challenging the health care system:
Meanwhile, both patients and caregivers changed their habits. Patients decided not to visit dentists’ offices to avoid possible exposure to the virus. Many care-givers’ offices were temporarily closed. Elective surgeries were delayed or cancelled.
The economic consequences of the health care industry were dire. One of the fastest growing employment sectors, the US healthcare industry suffered an surprising 1 million worker job losses from February to September 2020. Also, lakhs of workers lost their jobs in other industries.
As a result, a large number of Americans provide their generous employer with health care insurance, and this loss will be long-term for many of them.
Growing demand for COVID-19 vaccines and treatments:
The 2020 coronavirus pandemic created a high demand for preventive vaccines, and also for treatments for patients infected with the virus. Billions of dollars are being invested in research. With astonishing speed, unprecedented levels of global demand and investment could result in the production of a coronavirus vaccine in less than 12 months.
About Spade Health: –
Spade Health is one of the best healthcare market research companies which provides market research reports, custom market analysis and reports for a variety of global and US medical device markets. Our skilled analyst team can assist you with your unique strategies for internal market intelligence.
We specialize in Healthcare Market Research, Clinical Data Management, Clinical Research Management, Pharmaceutical Market Research and Medical Market Research.
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