The Healthcare industry is one of the crucial sectors. The industry of wellness helps to treat the patients with remedial, preventive, rehabilitative and pacifying care.
It consists of businesses that provide medical services, manufacture medical equipment or drugs, provides health insurance, and facilitate healthcare patients. The commercialization of goods and services helps to maintain health.
Nowadays, the world is facing the critical issue of pandemic disease of coronavirus (COVID-19). It becomes a disaster for people all around the globe.
Before going further, we must know what coronavirus is and how the outbreak of coronavirus is impacting the healthcare industry?
COVID-19 is a toxic viral disease caused by a newly found coronavirus. Coronavirus is a small virus packed in the thickness of a sheet of paper. It is an invisible disease that causes threat, and it is making vivid the failure of our health care systems.
The outbreak of COVID-19 is a wake-up call for everyone that can’t be ignored. The viral threats that we face together are associated with income inequality, health disparities, and our unawareness of recognizing it.
Presently, there are 339,059 cases worldwide of coronavirus and it is growing every day. To cure this, understanding the symptoms is a must!!
Symptoms of the COVID-19
Any age group can be infected with the coronavirus. The common symptoms of COVID-19 include:
- Dry Cough
- Shortness of breath
- Pains in joint or muscles
- Aching throats
So to prevent this we need a precaution that can save many lives. Because Precaution is always better than cure.
To slow down this some measures can be very helpful to prevent or treat the Coronavirus.
- Wash your hands regularly with soap or use the alcohol-based sanitizer.
- Keep the 1-meter distance between you and people who are sneezing or coughing.
- Wear a mask whenever you go out.
- Avoid touching your face again and again.
- Stay home
- Avoid smoking and other activities that weaken the lungs.
- Stay away from large groups of people and unnecessary travel.
- Try to get ahold of a covid-19 test kit so you can easily test yourself at home before heading to the hospital or your GP.
This pandemic disease can be cured with the help of the health industry. But due to the massive outbreak of the coronavirus the health industry is suffering a lot. The shortage of hand sanitizer and face mask production is the challenge these days for the medical industry.
Till the date, medical research is trying to find the medicine of this epidemic problem. The perspective for health-care companies has become a darker fear over the novel coronavirus in the global market.
Health-care companies will be on the front line in the coming weeks to treat the infected people, paying for care, and looking for a new medicine to cure. Even, they try to avoid hassle for everyday medical services.
It is difficult to analyze and predict what this would mean for investors in the health-care sector. For instance, Hospitals could benefit from increased traffic or the revenues fall as elective surgeries are cancelled.
This is the most disruptions in supply chains around the world. The coronavirus continues to cause destruction on the markets in more ways than one.
The healthcare supply chain is undoubtedly facing major problems in the global health crisis. With significant impacts on how hospitals and other facilities approach and manage inventory of necessary medical equipment to tackle this pandemic disease.
Here’s how Covid-19, the disease caused by the virus, could affect key segments of the health-care industry.
Pharma industry is the biggest chain industry. The industry is generating over 1 trillion dollars of revenue in the world. So the world cannot survive without medicines. Due to novel coronavirus, the supply chain is highly disrupted in the world.
The risk is higher for medicine as the disease goes longer. 60% of the world’s active pharmaceuticals are made in china. But with the large disruption, it’s hard to get the drugs.
Some experts had predicted the shortage of drugs in the coming days. Though it was impossible to measure its seriousness based on limited information.
Pharmaceutical companies generally have a substantial amount of backup API on hand, but those stores won’t last forever. So it has a great impact on the drug industry.
From the past few weeks, biotech has been on the rise and fall in the share market. The companies are working to give significant attention to the progress on treatment and a vaccine for the coronavirus.
All of that action relies on a vaccine that has yet to be tested in humans. If the vaccine does work, there is no real business model for vaccines that can treat viral threats of the pharma industry
Above we have discussed how the health industry can be impacted by the outbreak of novel coronavirus.
It is impossible to ignore the threat of the COVID-19. But instead of getting panic, we need to find the long term solution of this disease
Hopefully, this article will give you the best knowledge.
If you have any queries feel free to ask in the comment section.
Thank you for reading!! Stay safe!!