COVID-19 Market Impact Assessment
Imaging
Published on: 20 April 2020
Last updated on: 17 July 2020
DRG’s Medtech Insights (Part of Clarivate) is actively assessing the impact of COVID-19 on all therapy areas and incorporating the impact into reports. This piece contains some therapy-specific highlights based on currently available information.
Impact Assessment Summary
| Factors | Initial Effect | Expected 1yr Recovery | Comments |
|---|---|---|---|
| Company Sales/Revenue | Moderate | Moderate | Delays in procedures and adverse economic impact will result in facilities delaying the purchase of new systems. |
| Procedure Volumes | Moderate | Moderate | The majority of imaging procedures have been postponed, except for chest CT and X-ray in COVID-19 patients |
| ASPs | Moderate | Moderate | Most manufacturers in this space depend on China for raw materials; companies may have to contend with increased production costs until the situation stabilizes. |
| New Product Launches | Weak | Weak | Early-stage innovation will slow, whereas products in late stages of development should launch as scheduled. |
| Supply Chain | Moderate | Moderate | Most manufacturers depend on China for raw materials; though supply chain disruptions were observed in Q1, these are not expected to have a substantial impact on large imaging companies. |
*General guidance: Weak: 0-10% change in values/timelines; Moderate: 10-20% change in values/timelines; Strong: >20% change in values/timelines. DRG Medtech is developing a robust quantitative framework for our market forecasts; impact metrics shown he re may change in the future to align with those used in the quantitative framework.
Detailed Impact Information
Procedure Volumes and Unit Sales
- The majority of imaging procedures are performed for screening purposes and therefore are elective in nature. These procedures—including dental imaging, mammography, CT, MRI, general radiography, ultrasound, and nuclear medicine procedures—will be delayed, resulting in declining procedure volumes.
- Procedure volume declines and the negative economic impact of COVID-19 on healthcare facilities will delay the purchasing of new imaging equipment in the short term.
- However, CT and general radiography systems play a significant role in the diagnosis and management of COVID-19. As a result, there has been an increase in demand for these two systems, especially portable devices. This has also impacted product innovation; companies are manufacturing portable CT systems that can be easily disinfected to avoid the spread of infection.
Companies
- Manufacturers like Philips Healthcare, GE Healthcare, and United Imaging Healthcare have increased manufacturing for diagnostic imaging systems.
- United Imaging Healthcare has partnered with Sea Box to build temporary CT scanning “rooms” that provide better ventilation compared to conventional CT scanning rooms. Moreover, these temporary rooms will be equipped with high-end CT systems that reduce the scanning times. The surfaces have also been designed to make the disinfection process easier.
Supply Chain
- Because most of the diagnostic imaging system manufacturers rely upon raw materials shipped from China and South Korea, short-term manufacturing and supply disruptions were observed when lockdowns were implemented in those countries.
Guidelines/Recommendations Links
- ACR Recommendations for the use of Chest Radiography and Computed Tomography (CT) for Suspected COVID-19 Infection
- Outlines guidance for imaging patients that are infected or suspected of being infected
- Guidance from ESR and ESTI
- Outlines guidance for imaging patients that are infected or suspected of being infected
- Considerations for medical imaging departments – From ASMIRT Considerations for Imaging Departments
- Overview of COVID-19 symptoms, epidemiology, and considerations for imaging
- RSNA COVID-19 Resource Center
- Contains resources for radiologists
- Use of chest imaging in COVID-19
- Guidance for radiologists
