COVID-19 testing will be the savior of the medtech industry

Following Quidel’s recent reporting of Q3 revenue in 2020;

James Spencer, Medical Device Analyst at GlobalData, a leading data and analytics company, offers his view:

“Quidel’s recently reported an absolutely staggering 276% increase in Q3 revenue in comparison to its Q3 2019 revenue. This is surprising amid a medtech industry that has been drastically affected by the pandemic.

“Most companies in medtech reported revenues collapsing during Q2 2020, and they have only started to recover to pre-COVID levels by Q3 2020. Testing has been the key to Quidel’s success.

“Testing is vital during the pandemic as around the world, testing rates are rising sharply, and millions of people are being tested.This is where companies like Quidel come in. Medtech companies that have testing segments have seen revenues in that sector shoot up. Many companies have had orders far exceeding their manufacturing capacities and have had to reorganize their production in order to increase their output. As COVID-19 is probably going to impact communities for years to come, we will need billions more tests, and testing companies will need to be ready to provide.”

More Media