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The Economic Challenges Created By Covid-19

  • 29 days ago | Pharmaceutical

    Impact of COVID-19 on Generic Drugs in Pharmaceutical IndustryOVERVIEWIn early 2020, a new virus began to make headlines around the world due to an unprecedented rate of infection. Its origins can be traced to the food market in Wuhan, China in December 2019. Coronavirus (COVID-19) is a contagious disease caused by newly discovered coronavirus. The United States is the most affected country. The disease caused by SARS-CoV-2 infection is called COVID-19, which stands for coronavirus disease 2019. As the final treatment for confirmed COVID-19 has not yet been identified, there is considerable interest in repeating existing generic drugs for use against COVID-19.Generics can easily be produced without fear of intellectual property protection infringement, they have created protection profiles and as the results are more likely to get approval from the Food and Drug Administration and they can come directly to market by avoiding the early stages of testing in stage 3 clinical trials. Republished generics also provide the possibility of lower prices after development, increasing limited budget payers and access to patients worldwide.IMPACT ON PRICE A large number of challenges are being faced by the various market players due to the emerging of the novel coronavirus, one such issue is the uncertainty surrounding the impact of COVID-19 on generic drugs demands. Due to the increased demand of generic drugs for coronavirus treatment and increased travel and transportation costs the price of generic drugs has increased.According to Association for Accessible Medicines (AAM), the cost of shipping drugs to the United States has risen sharply due to the global epidemic of pandemics, according to a new survey by generic drug manufacturers conducted by the Association of Accessible Medicines (AAM). A survey of generic and biological pharmaceutical manufacturers AAM found that travel and transportation costs rose by an average of 224%, while at least one manufacturer reported a 413% increase in transportation costs compared to the same pre-crisis costs. Generic drugs are 90% of all prescriptions issued in the United States. With the increasing demand and transportation costs of generic drugs have led to the increase of the generic drugs price.IMPACT ON DEMANDThe corona virus zone is the result of various markets around the world. This is the cause of the widespread closures and isolation that are affecting world economic activity.COVID-19 has led to the increased demand for APIs and drugs; those used against malaria are most in the demand and then bronchodilators, antibiotics and antivirals. A second wave of deficiency is observed among sedatives, analgesics, anesthetics and muscle relaxants needed to care for patients on ventilators. This persistent shortage has increased the need for generic drugs, which has led to the accelerated FDA approval and the abolition of existing import warnings. About 48 percent of the world's pharmaceuticals used to make generic medicines come from India and China.As the pandemic of COVID-19 progresses, manufacturers of generic and biologic drugs work around the clock to ensure American patients have access to the drugs they need. Despite global drug chain companies straining under unparalleled pressure and demand, 9 out of 10 prescriptions filled in the United States are meeting the challenge.The impact of COVID-19 has created an opportunity for the number of patients as there is high chance of adverse health effects of COVID-19 on the people.IMPACT ON SUPPLYAs the epidemic intensifies, supply chains can be at significant risk due to locations that are over-located and potentially disrupted. The supply chain of drugs has been disrupted. The spread of COVID-19 makes it difficult for governments to use these drugs; the availability of these systems faces constant challenges due to their used parts as well as limited initial needs.The majority of active pharmaceutical ingredients (APIs) worldwide are sourced from India, which also provides approximately 30 percent of the generic active pharmaceutical ingredients (APIs) used in the United States. Indian manufacturers, however, rely heavily on China's APIs to manufacture their pharmaceuticals and obtain about 70 percent from China, the world's largest manufacturer and exporter of APIs by volume. India provides affordable and inexpensive generic drugs to millions of people around the world and operates more than 250 US Food and Drug Administration (FDA) and medical and healthcare institutions (MHRA) in the UK.During COVID 19, Chinese active pharmaceutical ingredient (API) production is not only impacting the local market, it could cause supply chain disruption around the world. According to various sources, more than 60% of active pharmaceutical ingredients (APIs) of pharmaceutical manufacturers in India depend on imports from China. As some active pharmaceutical ingredients (APIs) makers in China were unable to return to work due to COVID-19, some Indian generic drug companies were at risk of production disruption, which then had an impact additional on their export to the European and American markets.Trade restrictions have chosen nothing more than to produce essential medicines domestically. During the pandemic, as the increase increases, counterfeiting and price increases of imported goods increase. This means that even during the COVID-19 pandemic, market participants are able to maintain the supply chain.STRATEGIC DECISIONS OF GOVERNMENT AND MANUFACTURERSAs the coronavirus continues to spread to various countries, concerns are growing about disruptions in drug production and distribution. Collaborations, agreements, initiatives of market participants such as Zydus Cadila, Gilead Sciences, Inc. in the pharmaceutical market have helped them expand their market. This in turn will help to increase the demand for the product among the consumers and thus increase the future sales of the company.Market players have already taken different initiatives to combat the corona virus. For instance,Cipla is the largest manufacturer and medicinal product manufacturer in India. It has been approved by the FDA for the general albuterol sulfate inhaler, due to the increased demand for this product to prevent the asthma symptoms of COVID-19 patients. Inhalers are also being used as a treatment instead of a spray. No shortage has been reported in India so far, but there is a possibility of a shortage if the number of cases in India increases. Cipla has exported 35,446 kg of albuterol to the United States since March 2020. China has reported neither shortages nor exports, with its domestic supply of finished products.In August 2020, Indian pharmaceutical company Lupin has announced that they will sell Generic COVID-19 Drug Favipiravir. Lupine's version of the drug, called Covihalt, will be priced at 49 rupees (65 cents) per 200 mg tablet. Sun Pharma on Tuesday launched its own version, at Rs 35, the cheapest in India to date.In July 2020, Mylan, N.V., declared that they will launch generic version of Gilead Sciences Inc.'s COVID-19 treatment remdesivir in India this month at Rs 4,800 (USD 64.31) per 100 mg vial, as infections rise in third worst-hit country in the world.In June 2020, Hetero Healthcare announced that it is expected to deliver 20,000 vials of its antiviral drug Covifor (remdesivir) across the country for the treatment of COVID-19, at a maximum retail price of 5,400 rupees per vial and the company delivered the first batch of 20,000 vials in two equal batches of 10,000 each, one of which was immediately supplied to Hyderabad, Delhi, Gujarat, Tamil Nadu, Mumbai and other parts of Maharashtra, said Hetero Healthcare in a press release.With the increasing demand and increasing sale of generics drugs, are fueling the growth of generics drugs market in the near future.As such, market participants are involved in the production of generics drugs expanding their business through a variety of programs, including collaboration, contracts, and pipeline development, collaboration, and market expansion. It is expected that the strategic decisions of these companies will provide significant opportunities for market participants operating in the generics market.CONCLUSIONRemdesivir is a new antiviral drug developed by Gilead Sciences, originally for the treatment of Ebola virus and Marburg virus infections. Remdesivir has broad-spectrum efficacy against members of several viral families, including filoviruses Ebola) and coronary viruses such as, SARS-CoV and Middle East Respiratory Syndrome (MERSCoV), and has shown prophylactic and therapeutic efficacy in clinical trials of these chronic varicose veins. Intravenous treatment with remdesivir has shown significant improvement for the first case of COVID-19 in the United States, and since then a rapid study has been initiated for to assess the efficacy and safety of remdesivir in hospitalized patients with 2019-nCoV infection.There is evidence to support the safety and tolerability of generics in short-term treatment. However, more evidence is needed to assess the effects of long-term treatment. Given the limitations of the evidence and the particular safety concerns that remain, the widespread use of generics against pandemic COVID-19 should be justified.Various manufacturers have allowed their manufacturers to operate a small production of generics at various production sites in safe areas around the world, helping them to maintain a stable supply chain. In addition, increased demand for generics for the treatment of coronavirus has increased profits.

  • 29 days ago | Chemical and Materials

    COVID-19 Impact on Thermal Insulating Materials in Chemical and Materials IndustryINTRODUCTIONHome insulation is an emerging trend in most of the countries. There are multiple benefits of insulating a building. Insulating can help in saving energy and reduce bill amounts, add comforts to the building and also create healthier and positive environmental impact. The major functioning of insulation material is to regulate the temperature of a building and thus making living a pleasant experience even at those places where weather is either extreme cold or extreme hot. The use of insulating materials or insulated building have an advantage that they require less amount of heating and cooling appliances and thus saving lot of money for the consumer.Around 50%-60% of the insulation material is consumed by building and construction sector followed by consumer goods and transportation industry. As these sectors have faced major hit due to the breakout of coronavirus, the entire insulation industry is struggling for margins. Regions such as Europe and North America where thermal insulation regulations are very stringent are also under the pressure. People are avoiding building any type of new constructions or purchasing any electronics until the need is really high. Also, region such as Asia-Pacific which was growing with the highest rate in thermal insulation consumption as residential building area is still untouched and have a lot of scope for expansion, is also struggling.IMPACT OF COVID-19 ON DEMANDThe demand for thermal insulation has faced a dip due to the breakdown of COVID-19 globally. As most of the countries are running under lockdown, new construction activities are kept on hold and thus no insulation material is getting consumed. Also the old buildings that are compelled to get insulated due to the new rules and regulations passed by the local government are also on hold as neither the material is available nor the labor to install.As per the Crisil, the Indian construction industry has witnessed a decline of 12-16% in the current fiscal year due to the breakout of COVID-19. According to the same agency, as the construction activities has declined, major players in the construction sector are expected to register a 13 to 17% drop in revenue in fiscal year 2021. Also there have been changes in the budgetary support from the government for the next fiscal year keeping the revised estimate of this fiscal year in concern.Another application of thermal insulation is in consumer goods and transportation industry. Since the automotive industry has registered very poor sales during this pandemic, the demand of foam insulation from OEMs has also declined.IMPACT ON SUPPLY DURING COVID-19As thermal insulation materials are made up of polymer resins, any crunch in supply of these materials will have direct impact on the thermal insulation supply. Before the COVID-19, the polymer industry has mostly suffered shortages of the product. And to avoid this, the manufacturers keep stock of polymers and polymeric resins to overcome the shortage. But due to the outbreak of COVID-19, the supply chain has suffered abruptly. Manufacturers of raw materials have stock but they are not getting demand for it. Moreover, companies are facing issue with the supply of raw materials as most of the countries are under complete shutdown. In this situation, both manufacturers and consumers are facing the timely availability of raw materials.The restriction over transportation and labor availability is another factor that has affected the supply chain of thermal insulation. At several parts, the manufacturers are struggling for raw material reach and at the same time, some are struggling for delivering the product. For few manufacturers, the end-product is ready but are not able to reach their customers due to restriction on transportation and thus losing money. Thus, the impact on supply is not due to one factor but is facing hit from multiple points.IMPACT ON PRICEDue to breakdown of COVID-19, the prices of insulation materials such as thermal insulation has fallen a bit especially post May 2019. In countries such as Germany, France and Poland, where the maximum demand is generated and fulfilled with the local production, a decline in price has impacted the overall market of thermal insulation. Manufacturers are struggling to recover their cost prices and look for profits. Many local and small players have made an exit from the market as the pandemic is spreading aggressively. For many vendors, the saving has fallen short to run the business at such low cost and with low demand.STRATEGIC DECISION BY GOVERNMENT TO BOOST THE MARKETThe first and foremost step that government is planning to take towards the comeback of insulation industry on track is to make the industry less dependent on imports. Most of the manufacturers have decided to reduce its dependence on China for the supply of polymers and polymer resins. Many companies are trying to shift their supplies from China to other countries such as Germany and France. This is one of the step suggested by government in discussion with the foam insulation manufacturing companies to de-risk the supply chain.Also, keeping an eye on the crises, government is planning to postpone the fiscal consolidation and even relax states' fiscal deficits. As the demand for foam has gone down tremendously, it has forced the manufacturers to cut the production to almost 50% of the capacity. The production cut has led to the less requirement of insulation materials and thus, has impacted the whole industry. To cope up this, government is planning to provide some fiscal incentives to manufacturers including tax cuts and exemptions to recover from the disruption. Other important steps that government may take to pop up the production once the lockdown is over are raising depreciation limits and moratorium on interest payment. The government is also planning to reduce the rate of consumption tax on high foam insulation consuming sectors as automotive and construction. But the slow pickup in these industries and a step-up in discretionary spending on healthcare sector may act as a challenge for insulation industry.SUCCEEDING STEPSThe sudden outbreak of coronavirus has created a pandemic all over the world and has changed the meaning of ‘normal’ for everyone. Both consumers and manufacturers have to change their way of business accordingly. Consumers buying pattern has completely changed and so the manufacturers have to mold their manufacturing according to it. The consumer behavior has become so unpredictable, that even after passing more than 2 quarter in the pandemic, it is difficult to comment on the next step or requirement of consumers. The demand, supply, price and all the other factors that are impacted from the outbreak of COVID-19 are now looked from a different perspective. Majority of the changes have taken place in man (labor), materials and money.In the insulation industry, it is expected that the focus will change towards automation, mechanization and off-site fabrication. This will be a major step to reduce dependency on labor. As in the pandemic, labor was an important concern and due to lockdown, availability of labor was difficult. Another major step was to be more towards technology mainly to maintain balance between manpower and demand required. To stop reverse migration in future, the companies are planning to provide better on-site facilities for health and hygiene.The insulation industry has one important part and that is raw materials. It is very important that which material is used for thermal insulation. This pandemic has resulted in crunch of raw materials for thermal insulation. Thus, manufacturers are planning to source their supplies from alternate suppliers. Also, there will be more flexibility to avoid any further potential disruptions in supply chain.Apart from these changes, the developers need to focus on the right balance between the market forces such as financings, customer demands and materials. Manufacturers need to analyze the demand supply once again by using the advanced construction technologies to support forecasting.CONCLUSIONThermal insulation is mainly used in construction and automotive industry. Any impact on these industries has direct implication on thermal insulation materials market. Due to dip in the construction and infrastructure activities, the demand for thermal insulation materials mainly foam insulation materials has faced decline especially in Europe and Asia-Pacific region which is the among the largest consumer of thermal insulation.Few manufacturers are facing issue with supply of raw materials. But at the same time, the manufacturers are struggling to maintain the supply as per the demand. Many manufacturers are facing issues due to lockdown and shutdown. They are not even able to cater the existing demand. Also, the gap in supply chain is hampering the timely availability of end-product in the thermal insulation materials market. Thus, government is taking various initiatives to curb the demand-supply imbalance. Government is also providing various financial benefits to small and medium sized enterprises to maintain the equilibrium in the thermal insulation materials market.

  • 29 days ago | Chemical and Materials

    COVID-19 Impact on Organic Dyes and Pigments in Chemical and Materials IndustryA dye is a coloured compound that binds chemical to the substrate to which it is applied. This differentiates dyes from pigments that do not bind chemically to the substance they paint. The dye is normally applied in an aqueous solution to increase the strength of the dye on the fibre and may require a mordant. Both dyes and pigments are coloured, so they only absorb those visible light wavelengths. In water, dyes are typically soluble, whereas pigments are insoluble. With the addition of salt to create a lake pigment, certain dyes may be made insoluble or solid precipitate. Roots, berries, bark, leaves, wood, fungi and lichens are the majority of natural dyes extracted from plant sources. Most dyes are synthetic, means man-made from petrochemicals. The industrial dyes and pigments market is specifically categorized under the two headings namely commodity and specialty. A pigment is a material that changes the colour of reflected or transmitted light as the result of wavelength-selective absorption.To colour, paint, ink, plastic, clothing, cosmetics, food and other products, pigments are used. The majority of pigments used in production and the visual arts are dry dyes, typically ground into a fine powder. This powder is applied to a binder (or vehicle) for use in paint, a relatively neutral or colourless substance that suspends the pigment and gives adhesion to the paint. There is generally a distinction between a pigment that is insoluble in its vehicle (resulting in a suspension) and a colourant that is either liquid in itself or soluble in its vehicle (resulting in a solution). Depending on the vehicle involved, a colourant may act as either a pigment or a dye.By precipitating a soluble dye with a metallic salt, a pigment can be formed from a colourant. The pigment that results in the same is called a lake pigment. For all coloured compounds, regardless of their solubility, the term biological pigment is used. Permanence and stability are desirable properties for industrial applications, as well as in the arts. Fugitives are called pigments that are not permanent. Over time, or with exposure to light, fugitive pigments fade while some gradually blacken.TABLE 1 MAJOR TYPES OF PROTEIN FIBERS AND COMMONLY USED DYESNameMain DyesSheared WoolNatural DyesChiffonNatural DyesTussahNatural DyesCharmeuseNatural DyesNoilNatural DyesRaw SilkNatural DyesIMPACT OF COVID-19 ON DYES AND PIGMENTS INDUSTRYAs the demand for organic chemicals is rising across the world due to the spread of the coronavirus, manufacturers are on the verge of rising the prices of organic chemicals products along with suppliers and online vendors. Globally, the dyes and pigments market is expected to see healthy growth in the coming years, led by growing construction and automotive industries. Market growth is expected to be influenced by the rising demand for organic pigments. In recent years, population growth, coupled with per capita income growth, has boosted the consumption of paints and coatings in the building & construction, automotive and consumer goods industries. This, in turn, created considerable demand in the paint & coatings segment for pigments. One of the main users of pigments is plastics. In the plastics industry, pigments form an important part. Pigments give plastic products a particular appearance and styling effect. In the wide variety of plastics, pigments are used as colourants, owing to their excellent compatibility with many types of plastics.The dyes and pigments market is affected by decreased demand and productivity during the current COVID-19 scenario. The overall demand for chemicals used in other facilities has decreased due to the fact that only the processing of essential goods is currently allowed. The key challenges are a mixture of the consequences of the shutdown affecting the spread of fixed costs, labour shortages including contract workers, challenges with working capital and finally the decline in local and export demand. Pigment production is relatively people-intensive industry, especially in India, and if there is a shortage of labour, this could have a detrimental impact on the use of ability. Pigments are used in applications such as coatings, inks and paints and pigments are commonly used for the application of automotive paint. It is well known that in India and worldwide, the automotive segment is affected.In many fields, the pigments used in inks are important such as printing on foil used by the pharmaceutical industry, food containers and other necessities, so it may be considered that pigments are essential goods. The problem is the domestic and international drop in demand that threatens to affect sales.The COVID-19 outbreak has affected logistics and transport and has resulted in a pause in China's shipments. In different countries across the globe, the delay has caused an increase in raw material prices to adversely affect the dyes and pigments industry. Compared to 2019, the prices of main dye intermediates are going up more than 30 percent from the average price in the same time frame, which will have a cascading negative impact on the market, such as textiles, printing inks, papers, and other allied sectors, before COVID-19 is stored worldwide.GOVERNMENT INITIATIVES FOR THE DYES AND PIGMENTS INDUSTRYTo counter this issue, the chemical industry has responded by mass-producing cost-effective hygiene and cleanliness maintenance solutions for domestic and industrial applications in the form of soaps, detergents and sanitizers. It encourages the production of vaccines, medicines and drugs developed by the pharmaceutical industry, for instance, API. There is now an effort to become self-sufficient for drug intermediates and KSM by the government and industry together.The chemical MSME sector seeks emergency relief measures from the government. In terms of partially waivering fixed energy charges, encouraging workers' payment of salaries and interest subsidies, relaxing bad credit standards, halting repayments of MSME loans or extending tenures, carrying out SOPS to locally generated MSMEs (Promote Make In India Program).While refocusing on immediate needs, the government can cut or postpone less significant expenditures. Government may consider Direct Benefit Transfers (DBTs) especially to those MSMEs that have considerable human capital to see through the next few months. SIDBI can make the terms of its bank loan credit guarantee even more favourable to MSMEs. Of the government, perhaps it will absorb the initial loss of MSME loan instalments, giving their cash flows a breather. The government for each of its agencies and PSUs should be required to pay bills immediately, including at state level, to ensure liquidity for the private sector, in particular for MSMEs.CONCLUSIONIn the market for dyes and pigments, the effect varied from product to product. Permanence and stability are desirable properties for industrial applications, as well as in the arts. Fugitives are called pigments that are not permanent. Over time, or with exposure to light, fugitive pigments fade while some gradually blacken. For paint, ink, plastic, cloth, cosmetics, food and other products, pigments are used for colouring. The majority of pigments used in production and the visual arts are dry dyes, typically ground into a fine powder. This powder is applied to a binder (or vehicle) for use in paint, a relatively neutral or colourless substance that suspends the pigment and gives adhesion to the paint. There is generally a distinction between a pigment that is insoluble in its vehicle (resulting in a suspension) and a colourant that is either liquid in itself or soluble in its vehicle (resulting in a solution). Depending on the vehicle involved, a colourant may act as either a pigment or a dye. In certain cases, by precipitating a soluble dye with a metallic salt, a pigment may be formed from a colourant. The pigment that results is called a lake pigment. For all coloured compounds, the term biological pigment is used regardless of their solubility.

  • 29 days ago | Food & Beverage

    COVID-19 Impact on Food Coating Ingredients in Food and Beverage IndustryINTRODUCTIONThe COVID-19 has impacted almost every industry by surging in their consumption. The food coating ingredients market has several negative impacts of COVID-19 because many people prefer fresh and healthy food and turning health conscious. The food coating ingredients are used in many applications in food & beverages industry such as they are used in coating meat and meat products, bakery products, confectionery products and snacks.Before pandemic, the consumption of bakery products, snacks and confectionery products were more as compared to the situation in the pandemic. The changing life style of people and their preference towards the ready to eat foods has boosted the food coating ingredients market growth. But during pandemic, the focus of people turned towards the healthy food products and thus decreased the demand for food coating ingredients.But, owing to pandemic situation to increase the shelf life of several foods such as meat and meat products, the food coating ingredients were used because the extended lockdown has disrupted the supply chain in the food industry and thus for preserving the food products, the food coating ingredients were used.The consumption of preserved food was decreased during the lockdown because people were focusing on consumption of healthy foods. Many companies have closed their manufacturing facilities due to limited supply of raw material and disturbed demand for food coating ingredients. Some companies were operating on very limited work force due to social distancing. The raw material supply was disrupted due to disruption of transportation and sealing of boundaries of countries.INITIATIVESThe COVID-19 outbreak has affected almost each sector in the economy and food coating ingredients market is one of them. The extended lockdown has badly disrupted the demand and supply of food coating ingredients due to transportation issues. But in the hard situation, many companies were taking initiatives for the availability of products in the market.At Cargill, our values -- do the right thing, put people first and reach higher -- continue to guide us as we navigate COVID-19. As we work around the clock every day to support our workforce, suppliers, customers and the communities in which we live and work, Cargill draws on our decades of experience navigating major global issues to mitigate the ongoing impacts of the pandemic. Cargill, IncorporatedAs the coronavirus (COVID-19) virus continues to spread across the world, we’re working around the clock to deliver solutions that help with prevention and control of this global pandemic, while keeping our employees safe. DuPont Personal Protection today announced that face coverings made with DuPont Nomex may be used along with (FR) garments, such as those made of Nomex, in response to the protection needs of COVID-19. When used as face, nose and mouth coverings, properly designed masks, balaclavas, gaiters and hoods made with Nomex may help meet the Centers for Disease Control and Prevention (CDC) social distancing guidance on wearing masks in working environment that also require FR protection. DuPontAs an essential supplier, Ashland’s global manufacturing sites have continued to operate safely throughout the COVID-19 pandemic. Our supply chain continues to receive, process and ship customers’ orders thereby making and supplying the critical specialty products that our customers and the world needs. Keith Silverman, PhD, MPH, Senior Vice President of Global Operations, Quality and Environmental Health & Safety at AshlandMaintaining continuity in the entire food supply chain is essential now more than ever to ensure people continue to have access to the nutrition they need. We understand that ADM plays a critical role throughout that supply chain and we have business continuity plans in place for various scenarios and are prepared to respond if we see potential impacts on our business operations. We are taking the potential risks of the coronavirus very seriously and are committed to doing our part to keep our colleagues, their families and the communities where we operate safe. ADMFor AGRANA, the health of its own employees and the ability to deliver products have top priority. We therefore support all measures that slow down or stop the spread of the COVID-19 pathogen and have defined appropriate guidelines for the prevention of COVID-19 at all locations. We want to make the necessary contribution to contain the spread of COVID-19, protect the health of our employees and thus guarantee the continuity of our business processes and the supply of our customers as much as possible. As a producer of food, we are part of the "critical infrastructure". A continuation of our production operations will ensure that the population is supplied with our products and also the jobs of our employees. We take our responsibility as a food supplier and employer seriously by coordinating our actions on a daily basis and making careful decisions. AGRANA Beteiligungs-AGWe are constantly monitoring developments regarding the coronavirus/COVID-19 outbreak and continue to follow State, Federal (CDC) and World Health Organization (WHO) advice relevant to our sites. Safeguarding the health and well-being of our employees and their families, while continuing to help our customers supply food end-consumer products is our priority. PGP InternationalThe health and safety of our people is our top priority and in response to the COVID-19 (coronavirus) outbreak we have taken and continue to take wide-ranging precautions in our operations to keep our employees safe. These actions include stopping all non-essential travel, supporting remote working, postponing non-essential visits to our sites and sharing the latest hygiene advice from public health authorities. We have also introduced additional controls at every facility to continue to uphold the high standards of safety and quality expected of our ingredients, and to ensure their availability to our customers allowing us to play our part in maintaining consistency of supply into the global supply chain. We continue to monitor this fast-moving situation very closely. Tate & Lyle (Food Ingredient Company)We’re committed to doing everything we can to help the Global FoodBanking Network (GFN) with their efforts to combat hunger and provide food to people who need it around the world. In response to COVID-19, we have increased our donation to GFN and contributed USD 50,000 as the number of families that need support from local food banks during this pandemic has dramatically increased. Based on Ingredion’s donation, GFN’s Network of food banks will be able to provide an additional 240,000 meals to people in need during this global crisis, which helps us fulfill our purpose of bringing the potential of people, nature and technology together to make life better. If you can help, please consider donating to a food bank in your area of the world. Regrettably, this crisis is just beginning and GFN needs your partnership and support as they are on the front lines helping families. You can support these hunger fighters by making a donation directly to a food bank in your community. James P. Zallie, President and CEO, Ingredion IncorporatedAcross the globe, Kerry teams have taken on challenges to ensure the safety of all our employees and continued support for customers to ensure the global food supply chain remains intact for consumers. Throughout this turbulent time, our purpose, Inspire Food & Nourish Life has been at the core of every decision we have made and our values have been our guide as we work to achieve our three goals:Safeguard the health and safety of our employeesEnsure continuity of supply for our customersSupport our local communities Kerry Group plcCONCLUSIONThe COVID-19 has impacted whole economy in positive or in negative ways. Almost each and every sector has disrupted due to COVID-19 pandemic. The extended lockdown has disrupted the supply and demand of food coating ingredients and thus lead to the decreased demand of the food coating ingredients. As the food coating ingredients are used on various food products for various purposes and also helps to increase the shelf life of food products. But, thus their demand has increased for some perishable food products due to the lockdown, many food products were in the shops itself. Also, people were focusing more on the consumption of health and fresh food options thus the demand for food coating ingredients were also slower down during the COVID-19.Many companies have shut down their manufacturing facilities or the companies were operating in very low workforce due to government rule for social distancing. Some companies have lost their key revenue due to the less demand for food coating ingredients. But the demand for food coating ingredients may increase in upcoming days as the supply chain will become normalized.The market for food coating ingredients is expected to grow substantially during the coming years due to the rising awareness about their productivity. But due to the social distancing, many manufacturers and start-up companies are facing restrictions to bring their products in the food coating ingredients market.Thus, the impact of COVID-19 on food coating ingredients market is neutral as the demand will increase for the food coating ingredients as the supply chain for the food coating ingredients normalized.

  • 29 days ago | Pharmaceutical

    COVID-19 Impact on Blood Cancer Drug in Pharmaceutical IndustryThe COVID-19 pandemic has impacted different sectors of the pharmaceutical industry at distinct levels. The lockdowns imposed by the governments across the world as well the need to maintain social distancing has deeply impacted the manufacturing and distribution intensive industries including the pharmaceutical industry.Cancer researchers and oncologists should be curious or terrified because patients are suffering from any type of cancer are at a higher risk for bad outcomes. This is because of their immunity is very low due to taking cancer treatment and chemotherapy.The impact of the COVID-19 outbreak on the blood cancer drug testing is varying depending on the number of COVID-19 cases & cancer cases in the area. Areas with fewer cases of COVID-19 are striving to continue cancer clinical trials and hence, the blood cancer drug market may not be greatly affected in these areas. In these places, new patients are still joining trials and patients are still getting treatment.IMPACT OF COVID-19 ON DEMAND OF TREATMENTThe overall demand will be modestly impacted across the blood cancer drug market in the short-term. Hospitals and oncology centers across the country have suffered economic downsides from the elimination of non-emergency or non-urgent care. As the rate of recovery of COVID-19 cases is increasing, clinical trial institutes are planning to restart regular enrolment.The role of blood cancer drug is pivotal in cancer treatment areas that experience significantly high demand and receive the necessary funding. The position of blood cancer drug is essential which is leading to almost unchanged demand during the pandemic. Guidelines are available stating how clinicians & researchers should proceed for processes in cancer clinical trials during the COVID-19 pandemic. Moreover, the patients will only be treated by the physicians and nurses on the specific study teams to reduce the risk of infection. However, this might lead to patients travelling long distances several times a month for routine consultations. This reduces the potential number of patients to those who can afford frequent trips to the site or paid stay near the site. The guidelines also include other considerations such as implementing COVID-19 screening procedures implementing COVID-19 screening procedures, delaying recruitment, expediting changes in trial protocol amongst others.However, the aforementioned nonbinding guidelines have led to every organization developing its own priorities as most of the staff is focused on handling the COVID-19 crisis. On the other hand, several organizations believed that being on a clinical trial is the most important recommendation for treatment, and they want to continue conducting clinical trials for a number of reasons. This is because clinical trials are no longer the last-ditch effort but are considered to be the best chances for patients to get cured as they have specific enrolment criteria to match the specific type of cancer and its treatment that has been designed for that defect or malignancy. Hence, they consider clinical trial to be the best option especially in oncology cancer, and they want to continue as long as it’s safe and feasible.Figure 1: Estimated New Blood Cancer Cases in the U.S., 2020IMPACT OF COVID-19 ON ROUTINE CONSULTATIONSAs the patients are afraid for getting infected with the COVID-19 infection ongoing care treatment also affected. For instance; primary care providers who offer or use face to face guidance or appointments has been reduced, with switching daily services on telecommunication/tele- consultations unless an in-person consultation is deemed essential. Moreover, the psychological stress in patients receiving a diagnosis and treatment for cancer will be increased in current situation because patients may struggle to access their usual support networks, and the provision of psychological support through healthcare systems may be reduced.  IMPACT OF COVID-19 ON CLINICAL TRAILS Apart from the treatment, diagnosis and ongoing care implications coronavirus has effect on various clinical trials. Due to the coronavirus pandemic many pharmaceutical industries have suspended the clinical trials. In a study it is estimated that approximately over 12,000 clinical trails are going on in the area of cancer. If these trails are stopped or suspended for any reason, it will have profound impact on the industry. Beyond this, loss of the potential health benefits for patients already enrolled in the trials, the cost of an oncology phase 3 clinical trial is on average at least USD 20 million, which will impose huge financial hurdle on companies for gaining approval for trail and identification for the patients for the second time.Figure 2: Five-Year Relative Survival Rates by Year of Diagnosis across Cancer TypesIMPACT OF COVID-19 ON SUPPLY CHAIN OF BLOOD CANCER DRUGAmong the problems for pharmaceutical supply chains during this pandemic are the export-import restrictions and impact of COVID-19 on two of the largest global producers of active pharmaceutical ingredients (APsssIs) and generics: China and India. In February 2020, Food and Drug Administration (FDA) announced the supply chain disruption of essential medical products services import from China. The sudden outbreak of COVID-19 and its subsequent impact on restrictions on trade and movement of goods has resulted in a the closing of vast portions of the global economy, which has eventually resulted in disrupted supply chains due to limited materials and workforce, and slowdown or stopping of manufacturing. Moreover, several manufacturing facilities are focused on priority manufacturing to produce other essential medical supplies and equipment such as ventilators in the beginning of the emergency.The trade restrictions have impacted the market inversely. During the pandemic, as the demand increases, counterfeiting and price gouging of imported devices increase as well.IMPACT OF COVID-19 ON BLOOD CANCER DRUG PRICEAs the pandemic increases cancer patients are facing major problems in treatment, diagnosis and medication. Surveys show that at least 50% of the 49 new oncology drugs launched between 2010 and 2014 are only accessible to patients in only a few countries including the United States, France, Germany, Canada, Italy and the United Kingdom. Most countries find the cost of these drugs significantly higher and this has led to limited adoption. Hence, increased drug costs are attributed to the demand for alternative oncology treatments and continued usage of older drugs.The availability of targeted treatments, including biologics, small molecules, and immunotherapies are more likely to be offered in North America, Japan and Western Europe as compared to Eastern European countries. In addition to the issues of availability due to high cost, lack of favourable reimbursed scenario across the world is also impacting the market. To improve the availability and control the costs of cancer drugs, governments have made strict rules for the distributors, suppliers as well as pharmaceutical industries. The adverse impact of COVID-19 on movement and distribution of drugs is expected to impact the price due to lack of availability.IMPACT OF COVID-19 ON DRUG DEMANDAs the patients are afraid of getting infected and transportation facilities are drastically disrupted the demand of cancer drugs are affected by the coronavirus pandemic. Due to COVID-19, social distancing increases and a smaller number of patients visit the cancer centres which delays in elective surgeries. As a result, the demand for online delivery of drugs is increasing.STRATEGIC INITIATIVE TAKEN BY PHARMACEUTICAL INDUSTRIES AND GOVERNMENTDuring the pandemic, pharmaceutical companies are utilizing the technology including digital media such as telecommunication, mobile applications, webinars and others to meet the patient requirement. One such initiative is EDetailing as it improves the co-ordination among healthcare providers and patients and hence improves relationships. E-Detailing is being used by the pharmaceutical companies to communicate their product information and other crucial information to necessary stakeholders. Another similar initiative is Product Information Management (PIM) solutions. A Product Information Management (PIM) enables the automation by providing a portal to offer transparency across the supply chain to all stakeholders including the patients and professionals. As the data is held on one digital platform, the risk of human errors is reduced in reporting and updates. Utilization of existing technology to make the processes efficient is expected to help pharmaceutical companies during the pandemic as well as post pandemic.CONCLUSION The global impact of COVID-19 is unprecedented and has been a game changer for clinicians and patients alike. Healthcare delivery is largely impacted while combating the infection and healthcare IT infrastructure has played a pivotal role in the fight. Several tools such as video visits and wearable devices are gaining tremendous acceptance and adoption where it is not possible for many patients to seek necessary medical consultation & prescription. As a result, cancer treatment market including the blood cancer drugs market is impacted negatively. This includes the availability, supply and demand of the cancer treatment products. The consumption for blood cancer drug is expected to see mild decline for a very short term. However, the long term demand will stay unaltered due to the necessity of these drugs and the push from healthcare organizations to continue conducting cancer treatment during the COVID-19 pandemic. The existing market leaders holding major share in the market have strong strategic teams and will be least impacted. For a brief duration, the supply chain of the drugs will be impacted due to restrictions on movement of goods and equipment. However, as the situation eases, the sales will bounce back. Taking strategic steps will help the companies to exhibit planning and demonstrate stability to the end users.

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