In the city of Wuhan, China the coronavirus disease (COVID-19) outbreak is emanated. Coronavirus disease (COVID-19) has expeditiously spreaded across the globe, with large number of cases have been reported worldwide. The coronavirus disease (COVID-19) pandemic is not only creating health crisis but also it is unfavorably affecting healthcare, economies and pharmaceutical sector as well as at their core.
As COVID-19 is the infectious disease, its spread is endless; moreover there is no specific and approved treatment for the Coronavirus disease (COVID-19). Based on the scientific data and current analysis FDA abolish the emergency use authorization (EUA) for the usage of chloroquine and hydroxychloroquine to deal with COVID-19 in specified hospitalized patients when clinical trials results are not available. The use of face masks have been widely promoted by the World Health Organization (WHO) through the publication of relevant literature and insightful research papers on virus containment.
The Coronavirus disease (COVID-19) pandemic has enormous impact on global cancer supportive care products market. In many parts of the world, the use of masks in public spaces has been made obligatory. Within the global market for N95 masks, this has generated increased demand.
Between the end of January and the end of February 2020, the price of face masks rose by 319 percent in the United States. A shipment of 100 masks could be purchased for less than USD 4 in the United States prior to the crisis. There were rumors; however, at the end of February the single masks were being sold for USD 20.
Therefore, the price of N95 marks is increased due to COVID-19.
The COVID-19 pandemic has transformed many organizations’ business environment; a number of problems, including export and travel ban by some producing countries and lockdowns that have caused producers to (temporarily) shut down, have disrupted supply access.
The supply was also impacted by limits on lockdowns. Much of the raw materials arrive from abroad and are delayed due to security checks.
Maintain inventory for several months for some raw materials. But, for other materials, manufacturers rely on the supply chain to deliver
Within the lead times established. At this stage, they encounter a 1-2 week delay for some raw materials. Moreover, with regard to the international supply chain, a range of countries have implemented export restrictions or similar steps (discussed below) or have introduced new regulatory or certification procedures which have caused export delays.
But some manufactures tried local suppliers too.
To manage such crucial situation many organization are looking forward to improve and diversified supply chain model in all aspects. Diversified supply chain model anticipated to minimize the export of medical product as well as increase end-to-end visibility. Resulting COVID-19 pandemic has shown the various ways for supply chain management which may effective within a remote working environment.
Coronavirus disease (COVID-19) is an infectious disease caused by a SARS-CoV-2 virus while large pool of the population affected with this COVID-19 virus. Coronavirus disease (COVID-19) causes acute respiratory illness ranges from mild to severe pneumonia with respiratory failure. To minimize the spread of COVID-19, nearly all the countries have taken initiatives by the virtue of locked down and social distancing restriction.
The demand for N95 masks had increased tremendously after the spread of coronavirus. Due to of several reasons such as,
An increase in demand for N95 respirators has been caused by COVID-19. Many manufacturers with little experience in the development of these products have subsequently stepped in, but few of them produce efficient masks.
Large pool of the population affected with this COVID-19 virus and spread is expanding across the world from last few months. To deal with the COVID-19 outbreak challenges, many cancer supportive care products market players are creating new strategies.
Moreover, to accomplish the market demand, small market players are utilizing the partnership agreement strategy. It is predicted that these strategies are anticipated to escalate up the company revenue and its growth in the forecasted period.
It can be concluded that the COVID-19 pandemic situation has good impact on the global N95 masks market affecting the price, supply and demand of the masks. However, in the crisis call, pharmaceutical market players, government bodies and healthcare organization are working closely with healthcare professionals, customers, and patients for betterment of public health.
However, companies as well as government bodies exclusively concentrating on how they can make the most effective and best contribution to control the spread of the virus and save lives. They also ramping up production essential medication to new level and ensure that speed doesn’t affect or destroy the quality of products.