Covid-19 Executive Briefing
Understanding the economic impact of the Covid-19 pandemic and the implications for the healthcare sector
- ECONOMIC IMPACT -
Latest update: 16 June
Many economists have cut their GDP forecasts. The 2020 consensus forecast for GDP growth is currently negative and many predict a recession.
Global foreign direct investment flows are forecast to fall by up to 40% in 2020, from a value of $1.54tn in 2019, according to UNCTAD.
IMF projects global growth to decline by 4.9% in 2020, down 1.9% from April.
The global economy is estimated to contract by 4.2% in 2020 and bounce back by 5.3% in 2021
Impact of Covid-19 on GDP growth
- SECTOR IMPACT: PHARMA -
Latest update: 17 July
Clinical trial market impact
The number of impacted clinical trials that are now back on track as trial activity begins to resume.
At least 41,004,275 tests have been performed in the US but total tests performed per million still lag behind countries such as the UK, Russia, Spain and Singapore.
Patient Access to Services
Telemedicine is becoming a critical tool for patient management as patient office visits decline. Hospitals are also seeing a significant drop in visits for illnesses such as heart attacks, severe abdominal pain and strokes, likely due to patient fears of contracting Covid-19.
Key pharma market developments