COVID-19 pandemic has major impact on aesthetic implant market, says GlobalData

Nearly one quarter of revenue from aesthetic implants in the US will be lost in 2020 due to the COVID-10 pandemic, as most procedures are considered to be elective and non-essential, according to GlobalData, a leading data and analytics company.

GlobalData estimates an overall reduction of 24.1% of revenue by the end of 2020, compared to previous forecasts before the outbreak of SARS-COV2. In Q1 2020, elective procedures were postponed in the US from around mid-March (2 out of 12 weeks), resulting in a decline of about 11.9% of revenue. Q2 2020 was the worst quarter for the aesthetic implants market, as the first peak of new COVID-19 cases occurred in April and many procedures had been cancelled or postponed. As a result, the market was down approximately 71.25%.”

Eric Chapman, Medical Devices Analyst at GlobalData

Given that most aesthetic implant procedures are elective, the COVID-19 pandemic had a major impact on this market, as procedures were postponed. In some regions, up to a 70% reduction of patients seeking treatment has occurred since January 2020. In addition, clinics are voluntarily turning away patients to protect their staff and prevent the collapse of entire businesses.

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