Impact of COVID-19 on the Medical Devices Commercialization & Industry Trends Shaping 2022 | United States

 The impact of the COVID-19 outbreak on the medical devices market is expected to be significant as increasingly more countries resort to lockdowns to control the spread of the disease

Mentions of cloud computing within the filings of companies in the medical devices industry rose 26% between the final quarter of 2021 and the first quarter of 2022.

In total, the frequency of sentences related to cloud computing between April 2021 and March 2022 was 94% higher than in 2016 when GlobalData, from whom our data for this article is taken, first began to track the key issues referred to in company filings.

When companies in the medical devices industry publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. Cloud computing is one of these topics - companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.

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To assess whether cloud computing is featuring more in the summaries and strategies of companies in the medical devices industry, two measures were calculated. Firstly, we looked at the percentage of companies which have mentioned cloud computing at least once in filings during the past twelve months - this was 49% compared to 32% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to cloud computing.

Of the 10 biggest employers in the medical devices industry, IQVIA was the company which referred to cloud computing the most between April 2021 and March 2022. GlobalData identified 10 cloud-related sentences in the United States-based company's filings - 0.18% of all sentences. BD mentioned cloud computing the second most - the issue was referred to in 0.05% of sentences in the company's filings. Other top employers with high cloud mentions included Danaher, Roche and Thermo Fisher.

 

Across all companies in the medical devices industry the filing published in the first quarter of 2022 which exhibited the greatest focus on cloud computing came from Allscripts. Of the document's 1,704 sentences, 26 (1.5%) referred to cloud computing.

Key players covered in the global Impact of COVID-19 on the Medical Devices Market research report:

• Medical Clothing
• Medical Masks
• Ventilators
• Molecular Diagnostics
• Respiratory Devices
• Personal Protective Equipment
• Hospital Beds
• Point-of-care Diagnostics
• Rapid Diagnostics
• Critical Care Equipment

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