Covid-19 caused a lot of medical hype in 2020 so far. Medical companies started getting funding for vaccines, pharmaceuticals, medical trade and manufacturing of medical supplies. 2020 so far is a beginning of a medical market hype which according to Stankevicius analytics can last at least for 1-2 years until 2022.
Coronavirus has disrupted all industries and forced people to work from home. Digital, online and technology have become more necessary than ever before. Still, the medical market is in the highest demand. Is it a good time to be in the medical industry now?
According to Bloomberg and CNN, vaccine’s creation can take up to over a year to do, possibly even 18 months. Once that is achieved, the next step is to inject the vaccine into 7 billion people. Question is, how long would that take?
During this time people will be waiting for a vaccine that can take another year or two, and this is the best scenario. Considering that delays and issues happen unexpectedly all the time, it is very likely that covid-19 impact can last even up until 2025.
If the covid-19 stay around for at least 1-2 years preventions will have to be maintained between people and also regulations. This means medical equipment will be on extremely high demand, and so the price inflations are very possible.
Most popular trading items by Q2 in 2020 have been 3 layer face masks which later followed by more advanced masks produced by 3M with models like 1860 and 8210. The availability and price points for 3M products have become difficult and hard to obtain which caused the market to introduce new N95 face mask options, cheaper ones such as KN95 and FFP2/FFP3 masks which serve the same purpose but are lower in price.
Already in March and April, the demand for latex gloves and coveralls have risen. Followed by face masks, the rest of all possible medical equipment including ventilators, face shields, goggles, body coveralls and shoe coveralls have been growing in demand.
According to Stankevicius International analytics, it is very likely that by the end of 2020, pharmaceutical companies will start selling special drugs to minimize the risk of getting coronavirus. Pharmaceutical businesses are already working on solutions but people are still not fully trusting the suppliers because drugs are new and still unknown what side effects can be caused in the coming years to all drug users.
In conclusion, the medical market is on a hype and companies from many industries including IT, industrial and other professional services are jumping into medical and healthcare markets. The healthcare sector is growing and there are companies already in Indonesia developing advanced medical solutions against covid-19. Stankevicius International follows closely the healthcare industry.
About Stankevicius International
Stankevicius International is a professional trading consultant with a specialty in contracting and due diligence and has a strong presence and network in international markets. Stankevicius International follows a balanced approach to global trading, aiming to provide security on both sides, the buying party and the supplier party, while primarily serving the client’s interest with minimised risk and maximum return strategies.
Stankevicius International serves clients with two key solutions: assistance in international trade and security contracting with due diligence. These business services are supported by the firm’s global partners in international trade with capabilities covering all major continents.
