COVID-19 is changing the future of healthcare businesses

 

A pandemic and quarantine, unprecedented in our lifetimes, has transformed the global economy and almost every industry in just a few weeks. While many industries have been deeply damaged by the pandemic, many others are seeing a surge in demand.

During a crisis that threatens to overwhelm the healthcare system, more consumers will turn to any electronic and online means to monitor their health and seek treatment, including tele-monitoring, health apps, and various healthcare software and web services. Online health consultant companies like Dialogue report a surge in customer interest, causing them to almost double their number of employees, and medical app InkBlot has seen a 200% increase in demand.

There are not enough COVID-19 tests to meet the demand, so creating new tests will be urgently needed, and companies that deal in diagnostics, microbiology, biotechnology and screening will see an increased need for services in the months ahead.

With hospitals overstretched by the crisis and mild cases of COVID-19 treatable with paracetamol and other common drugs, pharmacies and other retailers will have to keep well stocked. Also, other health problems don’t stop for a pandemic, and people have all the same diseases they would ordinarily have, with the same demand for pharmaceuticals. As a result, healthcare services outside of hospitals and clinics, including healthcare at retailers, are seeing a global demand that will escalate.

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