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Growth Strategies to Navigate the Uncertainty Surrounding Elective Procedure Deferrals and their Impact on the Medical Device Market
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The study offers an overview of the impact of COVID-19 on select medical devices. The deferral of elective procedures due to COVID-19-related measures has affected the cardiovascular medical device market. While some cardiovascular procedures are considered urgent, others have been rescheduled and deferred. Nearly 83.5% of all orthopedic procedures performed in the United States have been delayed, postponed, or canceled since the COVID-19 outbreak, as they are considered to be elective and non-essential. Traumas, amputations, and oncological procedures are the top essential procedures. Dislocations and fractures, including hip, pelvis, and forearms, are considered for treatment only in urgent cases.The top 10 procedures account for 62.5% percent of the total volume and include knee, hip, and shoulder replacements and spinal fusion procedures. These surgeries are being delayed to prevent the spread of COVID-19 and spare the use of beds, ventilators, and equipment. Guidelines that are being modified to allow the resumption of clinical activities and reopening of facilities for elective surgery in multiple phases will have a direct effect on the short-term demand for select medical devices. Although many hospitals and health systems have quickly set up telehealth services to address non-urgent medical issues, the reality is that not everything can be addressed by telehealth. Ecosystem participants have to actively plan their product pipeline and use innovative strategies to recoup the major disruption in 2020. By ensuring timely cleaning services and measures to observe social distancing, healthcare centers can make sure that patients feel safe when they come in to seek healthcare services. The study considers a conservative scenario and an aspirational scenario for demand projection until 2025.Author: Bejoy Daniel
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Emerging Neuromodulation Technologies Enabling Growth Opportunities in Mental Health Care
GROWTH OPPORTUNITIES IN GENE THERAPIES FOR RARE GENETIC DISORDERS, DRUG DELIVERY THERAPIES, ANTIBIOTICS, AND COVID-19 VACCINES
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