Overview Aftermath of Covid-19 and Government Role
The first case of the COVID-19 pandemic was found in Wuhan, China. This pandemic has influenced the whole planet with its major impacts on the economy and businesses across the globe. The COVID-19 spread worldwide in unprecedented ways due to its high infectious and contagious nature. As a result, the greatest medical challenge in the 21st century is yet to be faced by physicians worldwide. Though the emergence of the virus can be traced back to Asia, many European countries, along with the U.S., have been struck massively by the pandemic. The virus has spread across all regions ranging from North America, Europe, Asia-Pacific, Middle East, and Africa up to South America. The COVID- 19 has been declared as a pandemic by World Health Organization (WHO) due to its increased spread across the globe. After the declaration of the pandemic, various countries announced the complete lockdown, such as Russia, Europe, and many Asian countries in order to decrease its spread. During this pandemic of COVID-19, the rising prevalence of respiratory disorders and increasing demand for peak flow meters in hospitals due to airborne infectious diseases are accelerating the market growth amid this pandemic, the demand for ventilators, humidifiers, respiratory inhalers. According to the situation report of 8th June 2021 by WHO stated 173 million cases of coronavirus patients had been reported globally, and 3.7 million patients have died due to the coronavirus. America is leading in cumulative cases with a record of 68 million and 1.8 million death rates. At the same time, nearly 1.45 billion doses of Covid-19 vaccines have been administered globally. The outbreak of COVID-19 is having a huge impact on the healthcare and supply chain of various medical products, including peak flow meters.
Peak flow meters allow patients to regularly monitor breathing changes by detecting airway narrowing before getting noticing symptoms. They are easily portable and convenient in usage by blowing air through the mouthpiece of the device, which can measure the flow rate of air in liters per minute. These are available for usage by adults and young children of age 5. For instance, in asthma conditions, the device helps in tracking the control of breathing over time and helps to recognize the timely suitable treatment when required.
The color code zones from peak flow meters help to detect when a patient should visit the doctor. The green zone determines that breathing is stable, yellow zone determines caution where a patient might have to increase the medication plans. The red zone indicates the dangerous situation where emergency care must be implemented.
Impact on Price
COVID 19 had a devastating impact on the global economy. Several establishments have to remain shut while others scale down their operations or put on hold expansion plans as they tried to survive the unprecedented crisis. However, the demand for respiratory devices, disposables, and measurement devices is rising due to increasing respiratory disorders and COVID-19. In spite of lockdowns and supply disruption crises during this pandemic, the companies are managing online sales for peak flow meters and their products. They are also maintaining fair prices owing to the high demand of these products in the market, but due to supply chain disruption price has risen slightly.
For instance,
- Netmeds sells their peak flow meter “Breathe O Meter Device 1’s,” which is a famous product of Cipla for Asthma and COPD at (INR 362.03) 4.88 USD.
The covid-19 impact has not affected the price of peak flow meters-based products at a high level because of advanced online sales and innovative delivery options available with utmost safety concerns.
Impact On Demand
The COVID-19 pandemic has impacted the peak flow meters market from its niche pedestal to the mainstream sector. Even before the pandemic, the peak flow meters and based products were in high demand due to rising chronic respiratory diseases and advanced methods for treatments of various diseases globally.
For instance,
- As per World Health Organization, around 65 million people have moderate to severe chronic obstructive pulmonary disease (COPD), out of which about 3 million die each year. These states respiratory diseases are the third leading cause of death.
- World Health Organization also states about 334 million people suffer from asthma, which accounts for around 14% of children globally.
The rising transmission rate of coronavirus in the recent scenario has made high hospital admissions for various chronic diseases, and respective demand for respiratory ventilators and devices like peak flow meters are highly prevailing in the market. Peak flow meters could be used for measuring the force of air from the lungs to help in maintaining the asthma level of patients. Peak flow meters are portable and easy to use, which makes them more convenient for people to rely on. Regular use of this device will help the patient in maintaining their respiratory tract and thus, helps in detecting disorders earlier.
For instance,
- As per World Health Organization, globally, at least 2 billion people are getting exposed to toxic industrial smokes of biomass fuels and burned gases which are released from poorly ventilated indoor stoves or fireplaces. This has dramatically increased respiratory illness among people irrespective of age.
This increases the demand for peak flow meters in the market. Several companies operating in other domains are eager to enter, and some have already entered the landscape of the peak flow meters market to increase their revenue by meeting the emergent need of various hospitals for respiratory ventilators and products. The demand is further rising in local clinics and small laboratories due to high awareness of the disease due to coronavirus.
The rising conditions of covid19 cases have further boosted the market growth due to the high requirement of oxygen level measurement at a constant time period. The rising home care facilities enabled for the elderly population with asthma and chronic respiratory conditions are aided by peak flow meters due to their easy application and less complex nature. These affirmative factors boost the demand for peak flow meters among healthcare professionals and customers.
Impact on Supply Chain
The COVID-19 has created a great impact on the supply chain of peak flow meters. The sudden attack of COVID-19 and its subsequent impact on restrictions on trade and movement of goods has resulted in a shutdown of vast countries globally, resulting in disrupted supply chains due to limited materials and workforce, and slow down or stopping of manufacturing. Moreover, several manufacturing companies are retooling priority manufacturing to produce other essential medical supplies and equipment such as ventilators and peak flow meters; due to an increase in order from the consumers, the government has allowed the movement of transport vehicles to import and export the products which are highly required by hospitals and other healthcare sectors. Additionally, the manufacturers are also taking crucial steps to ensure the availability of raw materials by and also they have to look into the quality of products. Manufacturers need to take necessary steps about production processes, shifting to other facilities if required, changes in quality assurance, costs and procedures related to screening of workforce and offering of care if needed, changes in working hours, and others in order to maintain their supply chain.
To minimize the supply chain crises, the government has been firmly monitoring the supply chain to assume that the COVID-19 outbreak may adversely impact the supply chain of a medical product, including shortages of ventilators and peak flow meters for various purposes in healthcare sectors in countries globally or potential disruptions in supply chains.
To manage such a crucial situation, many organizations are looking forward to improving and diversified the supply chain model in all aspects. The resulting COVID-19 pandemic has shown the various ways for supply chain management, which may be effective by innovative solutions initiated by market players.
STRATEGIC DECISIONS OF GOVERNMENT AND MANUFACTURERS
The key players engaged in the global peak flow meters market are making improvements to keep the speed during COVID-19. They are taking every single choice cautiously so the development can be expanded on a consistent schedule for the market. The manufacturers are likewise giving a great deal of consideration in the improvement of inventive items that can be utilized for the attractive impacts. Organizations working in the peak flow meters market are embracing a few systems, including joint effort, arrangements, association, and market development to improve their business.
For instance,
- Vyaire Medical is one of the top players in the peak flow meter market. The company has taken the initiative in donating medical supplies and peak flow meters to India. They’ve donated five Vela ventilators and two CPAP/BIPAP and oxygen concentrators to the Delhi E.N.T. Hospital, 100 Bellavista ventilators onsite for distribution in Delhi N.C.R., and 500 oxygen concentrators planned for distribution throughout India.
These essential choices by the organizations are required to give huge occasions to the market players working in the peak flow meters market.
Conclusion
The impact of the novel COVID 19 virus is expected to leave a long-lasting impact on each healthcare sector. The outbreak of COVID 19 prompted citizens to deal with confusion regarding the virus and its management. The virus poses a risk not just to human life but has caused economic distress and severe emotional strain. It produced a ripple effect that gave rise to a new collection of requirements and needs that were not much needed earlier, and an essential one is the peak flow meters and medicinal products, which are highly needed in hospitals, clinics, laboratories, and home healthcare setups due to rising chronic diseases and surgical emergence globally.
It is estimated that the COVID-19 pandemic outbreak having a positive impact on the growth of the market owing to the enormous requirement and application of peak flow meters for respiratory disorders, chronic pulmonary conditions, asthma, and among more will resume with steady ease of supply restrictions by the government.
Moreover, many international governments, including U.S., Europe, and Asia’s healthcare organizations, have supported the supply of these products due to high priority in this crucial health crisis period. Many government bodies and significant market players are closely associated with patients as well as pharma industries for safe packaging of products considering contagious nature of virus and improvement of future economics.
