06 Aug 2020
Posted in Medical Devices
Neurology market hit hard in Q2 and will struggle to recover if lockdowns return in second wave, says GlobalData
Following the release of Q2 earnings from major manufacturers in the neurology space;
Sheryl Tang, Medical Devices Analyst at GlobalData, a leading data and analytics company, offers her view:
“The decline in procedural volumes during the end of Q1 through to Q2 due to COVID-19 has severely impacted the neurology market, with both Abbott and LivaNova reporting a decrease in neuromodulation sales – one of the most heavily impacted portfolios – and Stryker experiencing decline across its neurotechnology and spine business unit.
“Given the non-essential nature of most neurology procedures, it one of the most heavily impacted markets. The current number of COVID-19 cases has been steadily increasing again globally in Q3, and GlobalData expects that, should countries revert back to a state of lockdown, the neurology market will struggle to recover in 2020.
“Major manufacturers have reported seeing some recovery at the end of June, with procedural volumes reaching 90% of pre-COVID levels on average in the US.”