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COVID-19 Impact on Automotive Cyber Security Market in Semiconductors and Electronics IndustryIntroductionThe pandemic started with its epicenter in China in 2019 and has been continuously spreading by then to all over the world; so far, 216 countries and territories have been affected with COVID-19, the U.S. being on the top with cases reaching about 13 million, followed by India, Brazil and then by many European countries such as Russia, Spain, Italy, and others. The COVID-19 cases are reaching the big named countries with a strong dominance in the global market, which has adversely affected the economy globally. The spread of the Coronavirus has led to the worldwide recession, many companies are being bound to take stringent actions of laying of their employees, small businesses are being shut, manufacturing facilities are being put on hold. There has been a disruption in many industries' supply chain due to restrictions in logistics and the closing of manufacturing facilities. Besides, the slowdown in the economy has lowered the spending capability of individuals, and people are saving money for emergencies. The U.S. has witnessed a decline of 4.8% on an annualized basis in the first quarter Q1-2020. In addition, the slowdown in economy has also lowered the spending capability of individuals and people are saving money for emergencies.The Latin America region is affected by COVID-19 in both human and economic terms. The IMF World Economic Outlook stated a decrease of 8.1% in GDP of Latin America in 2020.Automobiles are now connected devices with Wi-Fi for remote start, built-in cellular communication and Bluetooth, and many other apps. The vehicles are now highly automated and connected through the use of advanced technologies such as IoT. Vehicles and the internet are now being integrated, and the increasing connectivity provides a solution to road safety, increasing traffic flow, and climate pollution. The use of these technologies will lead to a high generation of data required to be protected. The increasing cyber thefts and cyber-attacks have been shown to protect the data associated with automobiles too. The expanding growth in connected vehicles has increased the need for cybersecurity for these vehicles over the years.About 125 million passenger cars with embedded connectivity are expected to be shipped globally in the period of 2018 to 2022, and the connected car market is expected to grow by 270% by 2022.Impact on Demand and Supply Chain and Long Term Strategy Adopted by Manufacturers or Steps TakenThe increasing number of cyber thefts has also placed connected vehicles at risk. Currently, only a few standards and guidelines exist for technical procedures for securing hardware and software in vehicles. However, the World Forum for Harmonization of Vehicle Regulations (WP.29) will be releasing new regulations on cybersecurity and over-the-air software updates.For instance,In August 2017, the UK Centre for Connected and Autonomous Vehicles (CCAV) announced the launch of guidance that stated principles related to cybersecurity for connected and automated vehicles for providing awareness on the matter within the automotive sector.The pandemic has boosted the digital transformation of industries; companies focus more on a digital platform to interact with their clients and customers. People working from home are also more reliant on digital sources. The automation and digitalization have been boosted during the pandemic. However, due to several logistics restrictions and the lockdown, the automotive sector has adversely affected the demand.The increasing digitalization during the pandemic has also led to increasing cyber-attacks and malware attacks. Cybercrime increased by 600% due to COVID-19 pandemic. The increasing cybercrime because of a pandemic can increase the demand for automotive cybersecurity solutions.The COVID-19 impact has adversely affected the demand, which has caused ripple effects and has further led to disruption in the supply chain. The falling of demand made the companies to re-evaluate their inventories and production. Moreover, the closing of several manufacturing facilities and limited labor workforce brought down automotive vehicles' production.For instance,In March 2020, the sales of cars dropped by 30% and the global sales of passenger cars is expected to drop down to 60.5 million units from that of 79.6 million units in 2017.The fall in demand for vehicles has slowed down the connected vehicle and cybersecurity for the autonomous vehicle market. But to remain ahead in the competition, companies need to keep investing in further developments and continue funding CASE (Connected, Autonomous, Shared, and Electric). Moreover, an increased focus on cybersecurity as remote workplaces and collaborations has opened new threat vectors.CONCLUSION As the COVID-19 prevails, the initial period saw a disruption in both supply and demand of automotive cybersecurity. Most of the manufacturing facilities were closed, bringing down the production of automotive vehicle manufacturing companies. However, as the countries are getting digitally transformed, and vehicles are getting autonomous with high connectivity through IoT, cyber-attacks are also prevailing. The main concern for the market at present is the falling sales of an automotive vehicle. Moreover, the pandemic has caused a worldwide economic slowdown that has limited the people's spending capabilities. This has led to the low purchase of autonomous, connected vehicles due to high prices.However, with more stringent government regulations to increase road safety, more autonomous vehicles are being developed with highly advanced technologies integrated. The cars are now fully connected with smartphones through the internet. The connectivity has increased the requirement for cybersecurity, and the market seems to be growing as more advancement will be made in connected vehicles and IoT.“Post-COVID-19, we’re likely to continue on the path of beefing up endpoints with hardening security technologies and more fine-tuned security policies. It’s also expected that organizations will focus more on employee training and procedures and potentially train employees on how to assess the security of their local networks,”Industry Expert
COVID-19 Impact on Asphalt in Chemical and Materials IndustryINTRODUCTIONThe black cementing agent known as asphalt has been used for road construction for centuries in all overall the world. Asphalt is black or brown petroleum-like material that has a consistency varying from viscous liquid to glassy solid. Although, asphalt is present in two types which are used in the natural deposits of asphalt and rock asphalt. Asphalt is obtained either as a residue from the distillation of petroleum or natural deposits. Natural asphalt which is also called Brea, and formed during an early stage in the breakdown of organic marine deposits into petroleum. Asphalt is produced from the constituent of most petroleum products which are isolated through the refining process of distillation. While production of the asphalt consists of compounds of hydrogen and carbon with minor proportions of sulfur, nitrogen, and oxygen.Since asphalt includes bitumen, which is a hydrocarbon substance soluble in carbon disulfate, asphalt is sometimes called a bituminous material. For the harmful distillation of acquired soft coal tar containing bitumen as well. Bituminous materials are known as both petroleum asphalt and coal tar. Petroleum asphalt consists entirely of bitumen, and the bitumen content in coal tar is relatively poor.Asphalt has various properties that increase asphalt application in the construction industry. On the heading of the asphalt become elastic under a various heating temperature. Asphalt is more used as the binder or adhesive in construction activities. The principal application of asphalt is in road surfacing in which asphalt is used in a variety of ways. Asphalt is mixed with a variety of solid and liquid substances which help to build the hard surface. Small structure granular is added to an asphalt coat, and other materials for the road surface are mixed with the asphalt. The asphalt helps to bind the different materials which have a different chemical composition and increase the strength of the surface to hold more pressure.Other important applications include linings of canals and reservoirs, dam faces, and other harbor and sea works; asphalt may be a sprayed membrane, thin, covered with soil for weathering and mechanical damage protection, or thicker surfaces, often containing riprap (crushed rock). Asphalt is also used for floor tiling, soundproofing, roofing, waterproofing coating, and other components of building construction.IMPACT OF COVID-19 ON THE ASPHALT MARKETAsphalt is the material that is more used in the construction industry as the asphalt is used as the adhesive for binding the material and increases the strength of the surface. Several types of equipment are used in the asphalt market such as cold bins for storage of graded aggregate, a dryer for drying and heating material which are required for mixing at a different temperature, a pug mill for combining the graded, heated aggregate and liquid asphalt cement according to specified mix formulas and tanks for storing the liquid asphalt.COVID-19 has affected the asphalt market, including asphalt content and the various equipment used in the manufacture of asphalt. As the lockdown was enforced in all the regions that have made the situation difficult for all sectors for development, the pandemic has hit the economy very hard word wide and the developing assets would also be done in a stager manner.No sector is excluded from the impact of COVID-19 because of the COVID-19 situation, all the producers in the regions have faced ups and downs in the company.With the increasing spread of the COVID-19 in the developing countries, the government or the high authority are taken stick action to stop the spread of the COVID-19. The new rules are impacting the businesses to a larger extent due to which manufactures are facing the huge losses as import and the export of the petroleum products are on halt and manufacture are facing difficulties in the raw material which are used in the production of the asphalt.The economy of the developing nation has gone down due to the COVID-19 which resulted in less of the infrastructural development and constructional activity. In coming years also the main focus of the nation would be to increase the GDP and not to more invest in the construction businesses. With the declining of the infrastructure and construction sector in the developing nation the demand of the asphalt have decline. The construction of the roads in the pandemic has been put on hold due to the lockdown in the countries. The manufactures are unable to sale of the asphalt products which leads to the increase in the inventories and manufactures are not able to manufacture more.Manufactures also facing the problem for the production of the asphalt of different grades which can increase the strength and can be mixed with the solid substance easily according to the demand in the market due to which manufactures are not able to generate revenue during the COVID-19. The demand of the asphalt in the infrastructural and construction industries have fallen down by approx. 25%-28% during the COVID-19 as the construction activity fallen down. Several industries production was on halt as due to lack of labor force during the COVID-19 which is the challenge for the manufacture.The another thing which also effecting the asphalt market as the construction of the roads are also done with the cement products which are more lifelong than the asphalt and also need less maintains which is also effecting the global asphalt market.ASPHALT IS MORE USED IN THE CONSTRUCTION INDUSTRYIMPACT ON INFRASTRUCTURAL AND CONSTRUCTIONCOVID-19 has hit the construction industry very hard and created several challenges and obstacles for the infrastructural and construction manufactures regarding contractual obligations, deliverables, and health & safety measures, availability of resources, and project delays or cancellations. Infrastructural and construction companies are running into losses and preserving the integrity of their operations, business, and protect their workforce. With the increasing number of COVID-19 cases in the different countries engineers and workers are not inscribing at the construction sites. COVID-19 has resulted in a halt in the construction industry as due to the lockdown most of the construction sites are running at half of our usual working run rate due to the increasing fear about the corona virus infection in engineers and workers which resulted in attendance at less than 70%.For instance,In India, in the months of April and May 2020, only 847 km of highways were constructed during the first two months of the current financial year, as against 1,692 km in the corresponding period of the previous year.ICRA reported the loss in productivity and shortage of laborers which is estimated to go down by 22 percent as against the defined targets.The construction of the roads during the COVID-19 have decline very fast as the government have more focus on the stoppage of the spread of COVID-19. With the decline in the construction of roads and infrastructural development in the nation have resulted in the decline of the asphalt in the global market many construction companies already implemented the travel bans for the employees originating from high-risk states which will led to the shortage of the labor. COVID-19 has impacted the demand construction activities and will result in the stagnant demand for future also which will affect the overall market growth.For Instance,In March 2020, Boston state, shut down all construction sites and other areas in Massachusetts areas due to increasing suit of construction delays.In May 2020, The construction activities in Europe has been rises by 21.2 % compared with the month of April but as compare to previous year the number is fallen by 10.3%.In European countries, most of the companies re-started their construction work and started taking new projects, due to which the construction activity increases with the rate of 27.9% after the pandemic period.In May, 2020, 38% of construction project owners halting projects underway in March which also resulted in the with 10% cancelling projects altogether.In April more than 31% construction cancelled or halted all over the world. Another 16% of respondents reported cancellations already for projects scheduled to start in both May and in June.The asphalt is also used in the construction of building and residential homes but during the COVID-19 the construction activity have been on hold for more than four months due to which the manufactures of the asphalt have faced several problems. North America have faced the effect of the COVID-19 on the larger extend due to which the construction of high ways and connectivity projects gone on halt due to which the demand of the asphalt have gone in the pandemic period.IMPACT ON THE PRICE OF THE ASPHALT OR BITUMENThe price of the asphalt has been affected due to the lower demand in the construction market. The construction of bridge, roads and highways projects are on halt during the COVID-19 and manufactures of asphalt are unable to sell of the stock. Also with the fall in the demand of the asphalt in the construction of roads the price has also fluctuated in the COVID-19 period.With lockdown in the countries, the workforce was not allowed to work at the site due to which the construction projects are on delaying due to which the demand of the asphalt has fallen down which shows the downfall in the price also. In November 2019 the price of the asphalt was 3,023.18 (CNY/T) which increases to 3,163.53 (CNY/T) in December 2020. In January 2020, the price fall to 3,008.15(CNY/T) after the January countries have done lockdown which has stopped all the rood construction project and activity due to which the price followed the downward trend in February 2020 price fall to 2, 8882.83 (CNY/T) in March 2020 price fall to 1861.51 (CNY/T) and in April 2020 gain the price fall to 1,784.21 (CNY/T).CONCLUSIONIn concluding the COVID-19 crisis has created a pandemic situation widely which affected road construction activities all over the world. As the government imposed lockdown rules for all construction activity and sites which resulted in a halt of construction material manufacturers which lead to a huge loss for both the country and manufacturers and will slow show steady growth in coming years. Most of the construction labor already headed to their homes or villages and doing other work and they are not willing to return and resume their construction work again which causes the shortage of skilled labors in urban areas due to which large projects are running out of time.With the fall in the demand for the construction material, the price of the asphalt has fallen down during the COVID-19 period and manufacturers have face losses on the inventories. The impact of the halt in work has increased the direct bearing of losses on the company revenues, jobs and project delays. The government has also taken many steps for the upliftment of the construction and building industry as many funds have been opened for the workers and the manufacturers which will increase the demand for the construction material.
COVID-19 Impact on Connected Oil and Gas in ICT IndustryCOVID-19 which originated from China has threatened the survival of modern human beings by creating an unprecedented pandemic situation. The nano-sized virus has increased its footprint globally affecting more than 175 countries. Entire nations have gone into full lockdown as the total cases globally have crossed 50 million. Companies have been advised to shut down their offices and small businesses are facing bankruptcy. Major pharmaceutical companies are developing vaccines at a rapid pace in assistance with the government but it is still a year away from being commercially available.The oil & gas industry was already facing a crisis before the pandemic and the advent of this pandemic has seemed to worsen its condition further. Due to these lockdowns, travel restrictions have also been put in place for which there has been a heavy reduction in fuel consumption across the entire transportation sector. Barring LPG and domestic natural gas, the demand for all the other fossil fuels is in free fall. The oil price crash which started before this pandemic has gone into overdrive mode due to this pandemic. Brent crude oil process has touched 17-year lows erasing billions of wealth from this sector. The energy demand from economies globally has also muted. However, as the economies unlock and travel bans are lifted in a phased manner, companies are introducing technologies such as machine learning, AI and digital twins among others and have also introduced connected solutions to digitalize their offerings which are pushing them towards industry 4.0. For instance,Schlumberger has introduced its digital connected service that optimizes the operations of the website while ensuring their safety and increasing their efficiency. This service leverage cloud-based applications for building a robust data network.AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE MARKETCOVID-19 overall has further strained the operations of this sector which were already reeling from a crisis of its own. The prices have crashed from their all-time highs. This pandemic has also made the consumers switch to electric vehicles which are further choking the future prospects of this sector. However, as the nation’s rely on this industry for meeting their energy demands, various measures are being implemented to provide relief from the impact of this pandemic. Governments are investing significantly to increase their production and to meet the energy requirements. Implementing technology has become very essential as the integration of IoT has eased the operations. Apart from that, domestic companies are acquiring major stakes in oil plants.For instance,In November 2020, Perenco has initiated talks to acquire one of the four oil & gas producing blocks to become a major operator in Ivory Coast.STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHAREThe demand for oil is increasing step by step as the economies are opening back steadily and lockdown restrictions are lifted partially. International flight restrictions have also been eased allowing limited flights to travel. To ensure their survival, they have shifted towards implementing technologies such as predictive analytics, AI as well as Industrial Internet of Things to increase their overall efficiency. This digital transformation is helping them to cut down operational expenses and execute quicker decisions increasing employee productivity.INCREASING INVESTMENT IN OIL REFINERIES AND MINES BY GOVERNMENT AND PRIVATE COMPANIES TO CATER TO THE EXPONENTIAL DEMANDThe government is investing in large amounts so as to increase the supply of oil on a large scale to meet the energy demands. Not only are those, many private companies acquiring plants and refineries to ensure an uninterrupted supply. Major players are investing heavily in technologies to introduce connected solutions for their clients to ease the overall flow.TO FORM PARTNERSHIP, ACQUISITION STRATEGIES TO DEVELOP THE TECHNOLOGY AND STABILIZE THE SUPPLYMergers and acquisitions are going on as the consolidation has become the need of the hour for this sector. Even though it is facing a lot of distress, however this is essential for the entire industry to survive after the pandemic.For instance,In October 2020, Mid-Con Energy Partners LP was acquired by Contango Oil & Gas in an all-stock transaction worth USD 400 million.IMPACT ON PRICEThis pandemic has cast a negative impact as the prices have increased significantly which was already in a downward spiral due to the price war. But the advent of connected solutions may stabilize the price as the flow becomes consistent.IMPACT ON DEMANDThe pandemic has muted the demand for oil & gas barring domestic natural gas. Even though lockdowns are lifted in a phased manner, the demand is still weak as the energy requirement is still low and people are switching to energy-efficient electric vehicles. However, the offering of connected solutions is poised to increase demand.IMPACT ON SUPPLY CHAINThe disruption of the global supply chain has disrupted the entire oil supply but companies are still able to provide connected solutions for oil & gas. The oil supply is rising and is abundant to cater to this demand.CONCLUSIONCOVID-19 overall had a mildly negative impact on the oil & gas industry as the demand has decreased massively. However, connected oil & gas solutions are being implemented by the vendors to maximize their potential while reducing the operating costs. Digitalization is happening at a rapid pace as the entire sector is advancing towards Industry 4.0. There has been massive government support to re-ignite the demand and private companies are also jumping the bandwagon. There is a dire need for consolidation in this industry to weather this storm and survive in the upcoming landscape where electric vehicles will take precedence. The prices have dipped sharply due to the previously ongoing price war and lockdowns imposed due to this pandemic. However, the supply is abundant and can easily address the energy requirements of an economy.
COVID-19 on Needle Coke in Chemical and Materials IndustryINTRODUCTIONNeedle cokes are main primary materials which is used for electric steel furnace. In steel market, every manufacturer has expected the crises which will occur due to the pandemic situations caused by the COVID-19 in the steel market globally but COVID-19 has the mixed situation of patterns for the needle cokes manufacturers in developing countries. The demand of needle coke has been declined due to lock down in the several regions due to which manufacturing sector have been affected on the larger extend. The impact of COVID-19 on the needle coke manufacturers can be seen with the product portfolios which are offered by manufacturers in the global steel market.Needle coke is a superior grade of petroleum coke which is used to manufacture graphite electrodes. Graphite electrodes are used in electric arc furnace which is used in to refining steel in ladle furnaces.Types of graphite electrodes are:RP graphite electrodesHP graphite electrodesSHP graphite electrodesUHP graphite electrodesApplication area of graphite electrodes:Furnace designScrape requirementsCharging practiceBurner/oxygen usageWater spray ringsFume control systemMeltdown/refine/tap-to-tap timePower steelSlag practiceIMPACT OF COVID-19 ON NEEDLE COKE INDUSTRYAs there are more producers of graphite electrodes in China and India, the leading producers face several problems due to lower demand for graphite electrodes in developing countries. The movement of goods has become very difficult in the pandemic situation of import and export, even as demand has decreased due to a decline in the prices of needle coke. Developing countries have also faced the problem of storing graphite electrodes with lower demand leading to higher demand for storage space which raises the cost of production leading to a decrease in the global steel industry.Manufacturers also face the problem of manufacturing graphite electrodes according to the market demand because of the fact that manufacturers are unable to generate revenue during COVID-19. During COVID-19, the market for graphite electrodes in the large finished product industries dropped as the demand for graphite electrodes decreased. Several manufacturing sectors were on hold and many industries were also operating at approximately 40 percent-50 percent of their current capacity due to decreasing consumer demand for finished goods.COVID-19 have created several challenges for the graphite electrodes manufacturers in operation and customer satisfaction of the products and also movement of stock is highly dependent on contract labourers who are currently unavailable due to government regulation in the COVID-19 due to which the demand of all types of the graphite electrodes such as RP graphite electrodes, HP graphite electrodes, SHP graphite electrodes and UHP graphite electrodes have fallen down. COVID-19 have affected the steel industry in all the regions due to which demand of the graphite electrodes have fallen down.As due to the COVID-19 disruptions in the supply chain can be seen which decreases the demand for the polyurethane and ultimately created an impact on different industries. The pandemic will hamper the growth of needle coke in steel industry. Steel is widely used in various industries.COVID-19 had the greatest impact on the supply chain as it became difficult to import and export from different countries due to the lockdown in several countries and also lower the demand which has affected the market demand for needle coke products. Many plant implementation has gone on hold as the market in developing countries has a much lower demand for graphite electrodes. Transportingof steel from one industry to another is very difficult because the demand for needle coke used in several processes for the production of steel goods has decreased and has affected the polyurethane industry worldwide.For instance,In December 2019, the appearance of coronavirus in China and gradual expansion of the epidemic drastically brought down the demand of the polyols. The price of steel products have fallen down to negative because of the lower demand in the market and less availability of storage of the polyurethane products which was manufactured from polyols. Lockdown is in force in Italy, Germany, India, the U.K., South Africa, Morocco and Spain. Coronavirus driven lockdowns call for people to “stay at home” and avoid unnecessary travels.COMPANIES STRATEGIC INITIATIVES DURING COVID-19In July 2020, BASF SE has manufactured and also donated 4 metric tons of Ultramid B24 N-polymers to Ahmedabad Textile Industry’s Research Association (ATIRA) which helps to produce personal protective equipment (PPE) for the Indian medical fraternity. The step taken by the BASF SE also helps the Indian government to fight against COVID-19 situation.In July 2020, BASF SE donated Rs 31.20 million to Indian government. The fund also helps Indian people to fight against the novel cronavirus. The donation has helped to create a market image in the Indian market.In June 2020, Corning Incorporated has supported the Indian government in COVID-19 situation. The company donated pulse oximeters, infrared thermometers and PPE kits for public health and also 1 lakh unit’s co vitamin C tablets for 5000 policemen in Chakan, Pune.In April 2020, EPM group take a initiative to protect employees in COVID-19 situation. They implement health tips for the employees which will help to protect from pandemic situation. EPM group measure body temperature for all employees during the working shift which shows the company’s efforts towards their employees. These health tips help to create an image of the company in the market.Another aspect of manufacturers which they have realised is their over-reliance on one supplier, the time for companies to start searching for alternative suppliers, mostly local suppliers to avoid any further risk and to be prepared in the future for any such crises. While it's not certain when companies will be on track, there will be a demand crunch for raw materials whenever they will. Everyone is going to rush to get raw materials,CONCLUSIONThe spread of the novel coronavirus today has caused significant market damage throughout the globe. Most of the companies have been stopped immediately and the impact of the coronavirus pandemic on sugar production is not yet clear. The towns are closed down and a modern norm has become of social distancing. Government along with the private sector can play a vital role in reviving the sector. The government is attending the large financing needs arising from COVID-19, the private sector can take care of large investments and expertise required for the power sector in developing countries. Apart from this, strong engagement with governments and local stakeholders will continue to contribute significantly to the development of the sector.Due to heavy losses, several producers closed the factory. The companies are taking strategic measures to increase the market's demand for the needle coke and to raise the price in order to earn revenue and government is also helping manufacturers by implementing policies that help manufacturers to maintain stability. After the lock down, the manufacturing sector will increase on the pace which will help the industrial lubricant growth in near future.
COVID-19 Impact on Cardiology Disease in Healthcare IndustryOVERVIEWA recently recognized coronavirus SARS-CoV-2 has caused an overall pandemic of respiratory ailment called COVID-19. The virus first appeared in Wuhan, a city of China in December 2019. The patients suffering from COVID-19 are treated very carefully with all the precautions because this disease spreads fast through physical contact. For COVID-19, no vaccine has been discovered yet; precautions include regular hand-wash and maintaining social distance. There are theoretical risks that a viral infection can cause the rupture of atherosclerotic plaques (fatty deposits) in the coronary arteries leading to acute coronary syndrome based on the inflammatory effects of the virus (heart attack). It is possible for someone to catch the infection. People with underlying heart problems, however, may be more likely than others to display signs of the infection or to have a more serious infection.IMPACT ON PRICEDue to COVID-19, the market is disturbed to a very big level. But as the patients who are already suffering from heart diseases and lung diseases are more prone to COVID-19, so overcoming these situations, the older patients are treated very seriously. So the demand is increasing day-by-day for different cardiac drugs that is increasing the competition in the manufacturers to produce more and good quality of cardiac drugs so that they can meet the expectation of doctors and patients. The latest data have shown that the price has decreased related to the data available before COVID-19 due to a rise in demand for cardiology devices and cardiology drugs. Significant quantities of drugs and devices are produced by large manufacturing firms but with a top notch consistency.Therefore, the growing demand and sale of the drugs and devices, the competition between the manufacturers of ventilators is increasing which results in decreasing the overall cost of cardiology drugs and devices.IMPACT ON DEMANDAfter the pandemic, the country's economic growth has been slowing day-by-day. And because of the non-accessibility of human labor, the manufacturing market for different products is closing down. Yet, in this pandemic, the market for cardiology drugs is still growing. For instance,The demand for cardiac drugs in the month of July registered the strongest growth of around 16% in terms of value.The shifting choice of drugs by individuals has also had an effect on the Indian pharmaceutical industry, according to a research study with companies with stronger drug brands dealing with respiratory, cardiac and anti-diabetic therapies (in chronic care) reporting growth higher than the industry average. In June, segments in acute therapies such as anti-infective, gynaec/vitamins, pain and gastro where drug demand has often remained higher than others, decreased year-on-year, clearly showing the shift in drug usage, especially during the time of lockdown. The rivalry between various manufacturers to produce the largest number of cardiology devices and cardiology drugs is growing day-by-day as it is in the demand.IMPACT ON SUPPLYDue to pertinacious COVID-19 lockdown, sanctions have been imposed by governments of various countries. These restrictions and barriers across countries borders led to a decrease in supply of APIs needed for drug manufacturing and raw materials required for manufacturing of devices including insulin pumpsIn the past, disturbances to these supply chain networks have occurred but they have been single deletions such as the failure of a raw material source, the closure of an isolated plant or instability in a single region. Raw material shortages are universal, resulting in drastic rise in costs for both cardiology medications and cardiology products. But as the demand for new medicines and devices from cardiologists is growing day-by-day, the supply chain is working very hard to solve the current situation. The convergence of instability of the supply chain with exploding demand pressurises healthcare organisations to control supplies of healthcare to optimise benefits for patients and healthcare employees while simultaneously ensuring that these services are sustainable.The pandemic has shown that cardiology drugs of very high and good quality can also be developed by Indian companies. Therefore, while Dr. Reddy's Laboratories and Alkem had higher drug concentration in the group of acute exposure while Sun Pharma, Torrent Pharma, Lupin and the Indian Pharmaceutical Industry (IPM) outperformed the market due to their high chronic portfolio.STRATEGIC DECISIONS OF GOVERNMENT AND MANUFACTURERSSince the outbreak of COVID-19 is becoming uncontrollable, the government and manufacturers are taking major steps for the production of more and more cardiology drugs and cardiology devices.The government has said that the local manufacturers have played a very vital role in production of cardiology drugs and devices.If the demand for cardiology devices and cardiology drugs will increase in the near future, the growth of domestic manufacturers will be seen. And it is highly expected that the manufacturers will always show good strategic decision and will help to provide good quality of cardiology drugs and cardiology devices for future.CONCLUSIONThe available facts and figures show that after COVID-19, the market for cardiology devices and cardiology drugs is rising and will certainly increase over the next period in order to meet the demand of private and public hospitals. The main problem, however would be the quality of the commodity, as demand is growing day-by-day and the manpower and raw materials are somehow decreasing, so that these two factors have to be weighed in order to satisfy the demand. Local manufacturers are now adapting new and better qualities to produce large amount of ventilators so as to meet the need in coming futures. Even government is helping the manufacturers a lot to overcome all the challenges that are being faced in the production of cardiology drugs and cardiology devices for heart patients. Even the local manufacturers are focused on producing less costly minimal invasive ventilators to fulfill the growing demand. Even big manufacturing companies are taking crucial steps to analyze the situation and work accordingly to bring the best in the pandemic situations. However, as the situation eases, the profits will bounce back. Taking strategic measures can enable businesses to demonstrate readiness and demonstrate end-user stability.
