Coronavirus (COVID-19) - Healthcare sector Impact - 04 August 2021

Globaldata's report on the impact of COVID-19 on the healthcare sector includes detailed coverage of the healthcare sector analysis, COVID-19 impact and sector insights among others.

COVID-19 has spread to over 198 countries with a total of more than 194 million confirmed cases and over 4 million deaths. The number of confirmed cases in the US is over 34 million, with cases again rising after a sustained period of decline. As in many other countries, most new cases are of the Delta variant, with hospitalizations also on the rise (97% of those admitted are unvaccinated). Total COVID-19 vaccine doses administered have now surpassed the total number of confirmed cases, with a total of over 2.9 billion single vaccine doses administered. China leads in the total number of vaccinations, while Canada leads amongst top economies in the percentage of the population that has received at least one dose of the vaccine.

A concrete summary of the impact of COVID-19:

• Hiring prospects appear to have been gradually improving since April 2021

• Nearly 45% of employees report an increase in productivity during WFH

• Most offices will return to at least 50% capacity in the next six months

• 3 in 10 employees prefer to visit their office daily after the pandemic

• Technology will continue to change the way we work over the next three years

• Artificial intelligence is driving change in working practices

• Most respondents continue to work from home full-time

Sector insight:

• Decreased demand in face masks in North America is leading to factory closures and lay-offs, prompting concerns about the capacity to respond to a possible winter resurgence of cases. Vaccination efforts are succeeding in giving some patients enhanced protection from COVID-19, but immunosuppressed patients continue to be at risk, impacting hospital nosocomial infection policies. COVID-19 testing continues to fall, as admissions fall in countries with successful vaccination programs, shifting the volume of testing to non-hospital settings, to support disease surveillance and track-and-trace efforts

• Elective procedures have resumed following declines in COVID-19 case volumes. Although the recovery has been robust in the US, the risk of continued spikes in COVID-19 cases and pending additional waves continue to put financial pressures on healthcare providers

• The pandemic initially caused a reduction in care utilization, but later led to increased utilization due to continued COVID-19 cases and patient backlogs. This pattern created uncertainty in enrolment and utilization rates. Job losses are expected to lead to reduced member enrolment and an increase in the number of dependants for those that remain enrolled. Economic pressures in the US have driven enrolment in Medicaid programs and are expected to result in lower enrolment in private plans

Download our free report for more detailed insights on the impact of COVID-19 in the healthcare sector.