Medical Devices Market - Growth Opportunities Created by Covid19 Outbreak.

1. Title : Medical Devices Market to Experience Subdued Growth as the COVID-19 Pandemic Fastens Its Grip on theWorld Medical Devices Market to Make Long-Term Gains; Heightened Demand for Healthcare Devices to Tackle COVID-19 Outbreak to Support the Market in the LongRun Description : Rising Focus on Intensive Medical Research to Bode Well for the Medical Devices Market in the NearFuture Content: The global medical devices marketsize is expected to decline by more than two percentage points, reaching USD 461 billion at a CAGR of 3.0% by 2020. Fortune Business Insights™ provides an in-depth analysis on the short-term impact of the COVID-19 outbreak on this market in its newest report. An Overview of the Impact of COVID-19 on thisMarket: The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses acrossindustries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by thepandemic. We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for thefuture. Click here to get the short-term and long-term impact of COVID-19 on this[Market]. For More Information : https://www.fortunebusinessinsights.com/industry-reports/medical- devices-market-100085 Massive Supply Chain Disruptions to Hamper theMarket The COVID-19 outbreak has had a crippling effect on the global supply chain and logistics. With a large number of major economies such as India and Italy going under prolonged periods of lockdown, transfer of these devices and services across international borders has been severely stymied. More importantly, majority of the world’s leading medical devices companies have their manufacturing facilities stationed in China. Being the epicenter of the outbreak, China has suspended most of its industrial activities. As a result, timely delivery of necessary medical devices has been affected and the medical devices market trends have been negatively impacted in theprocess.

2. Companies to Revise Their GrowthProjections The market report suggests that the coronavirus pandemic has spiked the demand for essential healthcare products such as ventilators, face masks, and test kits. However, the demand for devices employed in non-essential medical procedures has plummeted as people conserving their resources for the critical times that lie ahead. As a result, companies are increasingly modifying their growth trajectories and projections owing to the uncertainty of the degree spread and intensity of the COVID-19 disease. For instance, Boston Scientific announced that it expected a revenue decline of approximately $40 million in the first quarter of 2020. Similarly, GE anticipated a severe hit of around $300 million in 2020’s first quarter as the company is a major player in the healthcare and aviationsectors. Differing Level of Impact of the COVID-19 Pandemic acrossRegions Owing to a strong presence of major medical devices companies, the market size in North America stood at USD 177 billion in 2019, with the region holding 39% of the medical devices market share. Thus, North America is set to emerge as the leading region in this market. The impact of the coronavirus outbreak on the other regions in the world will depend on factors such as preparedness of healthcare systems to tackle the crisis, per capita healthcare spending, adoption of minimally invasive diagnostics and treatments, and government initiatives to spread awareness about the disease and its prevention. For instance, the market in Europe is likely to surge as the demand for essential medical devices is skyrocketing due to the unprecedented rate of the spread of the disease in Italy, Spain, France, and theUK. More Trending Topics from Fortune Business Insights: X-ray Flat Panel Detectors Market, Share, Growth, Sales and Drivers Analysis Research Report2026 X-ray Flat Panel Detectors Market to Value US$ 2805.2 Mn by 2026, Introduction of Retrofit X-ray System to Push Growth Rate, says Fortune BusinessInsights