The new COVID-19 wave could be bad news for the medical device industry

Surging COVID-19 cases across the U.S. could hold medical procedures back for the rest of the year, according to a new report from UBS analysts.

If the UBS analysts’ prediction proves accurate, medical device companies could face a challenging environment for the rest of the year, even as they provide the technology, tests and supplies needed to protect and treat people and manage the coronavirus.

Many medtech companies experienced a tough second quarter this year as the pandemic caused a curtailment of elective procedures — and sometimes even not-so-elective procedures — as health providers focused on managing COVID-19 and patients stayed away in droves.

Companies reported some recovery during Q3. The UBS analysts suspected a recent move at Cleveland Clinic is emblematic of how health providers are going to respond as an even bigger COVID-19 wave rolls through the U.S.: Cleveland Clinic has postponed nonessential surgical cases that require an inpatient stay through Friday, Nov. 30, but urgent as well as outpatient surgeries have continued as scheduled.

“We view this as emblematic of the approach hospitals could take as cases rise in a number of regions across the US – more localized, measured and temporary case deferrals than we saw in April,” said the UBS analysts.

Still, there are hospitals announcing suspensions, especially in the hard-hit Upper Midwest and Northwest of the U.S.

By Chris Newmarker | MassDevice

Image Credit: Unsplash


About Peter Coffaro 504 Articles
Peter Coffaro is a growth-driven and strategic executive with over 25 years of progressive management success in the medical device industry. With a proven track record and recognized expertise, Peter has established himself as one of the top influencers in medical sales, as acknowledged by prestigious publications such as the World Journal of Orthopedics, Exponential Healthtech, and Throughout his career, Peter has accumulated 10 years of combined sales management experience, excelling in various roles including Director, General Manager, Distributor, and Vice President. He has worked for industry-leading orthopedic companies such as Zimmer, DePuy, and Stryker, solidifying his deep knowledge and network within the field. Peter’s passion for innovation and emerging technologies led him to found OrthoFeed, an award-winning blog covering digital orthopedic news and emerging medical technologies. Through this platform, he stays at the forefront of the industry and contributes to the dissemination of valuable insights. Peter is a three-time Hall of Fame award winner at Johnson and Johnson, demonstrating his exceptional contributions and impact on the organization. His expertise extends to areas such as organizational development, business development, sales management, digital marketing, and professional education. Peter earned a B.S. degree in Biology and Chemistry from Northern Illinois University, further complementing his comprehensive understanding of the medical field. With his wealth of experience, strategic mindset, and dedication to advancing healthcare, Peter Coffaro is a valuable asset and leader in the medical device industry.

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