Frost & Sullivan Reveals Top Five Predictions for the Global Healthcare Industry Post COVID-19

Frost & Sullivan Reveals Top Five Predictions for the Global Healthcare Industry Post COVID-19

PR Newswire

SANTA CLARA, California, July 16, 2020

Focus on new growth segments, resource optimization and massive restructuring heralds a new era of 'healthcare preparedness'

SANTA CLARA, California, July 16, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Post-Pandemic Global Healthcare Market Outlook, 2020, forecasts that 2020 will be an unforgiving but transformational year for the healthcare industry. As the world grapples with a global emergency caused by the COVID-19 pandemic, the healthcare industry is expected to witness a drop in growth from 5.3% to 0.6% in 2020, with revenues remaining below the $2 trillion mark.

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For further information on this analysis, please visit: http://frost.ly/49a.

"While the life sciences segment seems to be surviving and thriving, in certain scenarios, medical technologies and imaging are expected to be hit the hardest. Elective procedures being on hold and delayed or prolonged procurement of capital equipment will have a negative impact on revenue, from $413.9 billion to $377.1 billion for medical devices and from $31.5 billion to $18.1 billion for imaging equipment," said Unmesh Lal, Transformational Health Program Manager. "Additionally, with telehealth transforming care delivery and health IT enhancements in analytics and interoperability, digital health will continue to thrive at a growth rate of 7.9% in 2020."

Lal added: "While the short-term demand for testing and the race to find a vaccine intensifies,  governments are reallocating budgets to finance healthcare services and assessing the feasibility of immunity passports, mass vaccinations, and scaling up of contact tracing. Moving forward, healthcare IT companies such as Microsoft, Optum, Intel, and AWS are betting big on enterprise-grade AI platforms that predict pandemics, forecast patient volume across providers, authenticate reimbursement, and drive general well-being of the insured population through medication management and self-care enablement.

In light of the lessons learned from the pandemic and the changing economic and business scenario, Frost & Sullivan has re-visited predictions, identified top growth opportunities, and analyzed risk-mitigation measures adopted by companies to survive the remainder of 2020, including:

Post-Pandemic Global Healthcare Market Outlook, 2020 is part of Frost & Sullivan's global Transformational Health Growth Partnership Service program.

About Frost & Sullivan

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Post-Pandemic Global Healthcare Market Outlook, 2020
MF6E-52

Contact:
Mariana Fernandez
Corporate Communications
P: +1 (210) 348.1012
E: mariana.fernandez@frost.com 
https://www.frost.com

 

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