COVID-19 Impact on Clinical Chemistry Analyzer in Healthcare Industry

COVID-19 Impact on Clinical Chemistry Analyzer in Healthcare Industry

  • Healthcare
  • Nov 06, 2020

COVID-19 Impact on Clinical Chemistry Analyzer in Healthcare Industry

As well as the global economic environment, the COVID-19 pandemic has had an unforeseen effect on everyday life. The effect on the healthcare industry has also been dramatically changed and a huge pressure is being generated on healthcare services that are already stretched across the globe.

Emerging literature on COVID-19 shows that both in the general population and within high-risk populations, the Coronavirus pandemic has intensified psychological distress. Till July 2020, it became obvious that the novel strain of Coronavirus or COVID-19 has major impact on the healthcare system in the United States.

PRICE IMPACT

The COVID-19 had a devastating impact on the global economy. As they attempted to survive the extraordinary turmoil, the few businesses must stay closed while others must scale down the activities or placed on hold expansion plans. Clinical chemistry analyzers are devices that carry out assays on clinical samples, such as plasma, urine, blood, serum and cerebrospinal fluid to determine the presence of analyzers relating to drugs and diseases.

Despite the current crisis healthcare issue in the country continues to reel under the positive impact of COVID-19 on the market of clinical chemical analyzers due to its use in detection of samples of COVID-19. Since the cases of COVID-19 are increasing day by day so is the testing demand is increasing which therefore increases the prices of tests that are performed in laboratories.

But as the demand increases the competition between different manufactures is increasing for manufacturing novel clinical analyzers for the tests.

IMPACT ON DEMAND

The demand for clinical chemistry analyzers is increasing even in this pandemic because, of its regular use and others benefits that comes with the installation of these analyzers in the laboratory.

Since most of the medicinal chemistry analyzers introduced on the market are highly automated to produce maximised throughput, improve the safety of consumers from biohazards and reduce the chance of cross-contamination. Samples are inserted into computers until the samples are installed by the customer, and experiments are conducted. In addition, the rise in demand for medical instruments in the diagnosis of different disorders (such as cardiac or neurological) contributes to an increased preference for clinical chemistry analyzers, especially in hospitals and other health facilities, and hence drives the market for clinical chemistry analyzers. Moreover, due to quicker outcomes and multiple experiments at the same time, improved accuracy of clinical chemistry analyzers has driven the global market for clinical chemistry analyzers.

For instance,

  • In October 2016, the U.S. obtained Ortho Therapeutic Diagnostics. Approval by the FDA for its VITROS automation technologies for use in promoting the application of medicinal chemistry, immunodiagnostics and other modalities of laboratory automation.
  • India is expected to be the 'heart disease capital of the world in coming years,' according to an article published in a major Indian newspaper, Indian Express, with more than three million deaths per year due to cardiovascular diseases. About 415 million people worldwide suffer from diabetes, according to a survey by the International Diabetes Federation Diabetes Atlas. In addition, 318 million people have poor control of glucose and are at a high risk of developing diabetes in the future.

IMPACT ON SUPPLY CHAIN

For numerous myeloma implants, the COVID-19 epidemic has affected the supply chains. The unexpected emergence of COVID-19 and its resulting effect on controls on commerce and transportation of commodities has culminated in the closure of major areas of the global economy, contributing to the breakdown of supply chains due to insufficient labor and resources, and to the stagnation or suspension of output.

In addition, some production firms are retooling to manufacture other critical medical materials and appliances, such as ventilators, for priority production. In addition, in an environment with restricted border movement and minimal trade flow, many trial participants of international facilities face the troublesome task of negotiating their global supply chain.

STRATEGIC DECISIONS FOR MANUFACTURERS

In order to improve their position in the global market for medicinal chemistry analyzers, major players are widening their footprints. Growing patient demographic numbers and creating new, reliable diagnostic and therapeutic instruments provide key players with attractive opportunities to expand their share of the demand for clinical chemistry analyzers. To increase their market share in the market for clinical chemistry analyzers, manufacturers invest in strategic investments, partnerships, and distribution.

For instance,

  • Siemens Healthineers has a worldwide base of more than 600,000 sensors deployed that helps them to draw up a large collection of data used to increase patient treatment. For years, the business has focused on establishing relationships with universities, research institutes, and providers of healthcare. Siemens Healthineers now has agreements with 90 of the top 100 healthcare providers worldwide.

CONCLUSION

The demand for clinical chemistry analyzers is going to increase in this era of pandemic also, because of its high usage and advancement of technology which results in better quality of results and also the speed of getting results is also increasing day by day which therefore again is a boosting point. But due to lack of supply of raw materials the manufacturing units somehow will be affected. But due to increase in geriatric population the conditions of citizens is becoming very hard so the tests will be needed in a very large amount. Also the technologies are changing day by day which again is a boom for the market. And the key players are taking this situation very cautiously, as they are coming up with new ideas day by day to overcome such situation.

COVID-19 TRACKER

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