This deteriorating economic outlook is evident from the medical instruments sector's recent business slowdown. On the other hand, in China, the pandemic-led disruptions related to the zero-tolerance COVID-19 policy and financial stress among property developers have induced a slowdown in the growth trend. Per the report, the withdrawal of fiscal and monetary support as well as the ongoing supply shortages is dragging the growth rate down in the United States.
#Dismiss a task in outlook update
The update noted that global growth is expected to moderate from 5.9% in 2021 to 4.4% in 2022-half a percentage point lower for 2022 than in the October World Economic Outlook (WEO), largely reflecting forecast cuts in the two largest economies-the USA and China. 3 Trends Shaping the Future of the Medical Instruments Industryīusiness Trend Disruption: Considering the deteriorating trade situation on continuing emergence of more contagious COVID-19 variants like Delta, Omicron and XE, the IMF came up with its January 2022 World Economic Outlook Update. Edwards Lifesciences is one of the companies whose R&D has taken a hit. However, in the past several months, many non-COVID and non-emergency-line innovations have been stuck or delayed. Among the recent path-breaking inventions, bone growth stimulators, 3D mapping of CT scans, wireless brain sensors and human-brain pacemakers are worth mentioning. Prior to the pandemic, the Medical Instruments space was advancing well in terms of R&D. This FDA-regulated industry comprises an endless number of products, starting from transcatheter valves to orthopedic products to imaging equipment. The Zacks Medical - Instruments industry is highly fragmented, with participants engaged in research and development (R&D) in therapeutic areas. Meanwhile, industry players like Alcon, STERIS plc and Abiomed that have adapted well to changing consumer preferences are still witnessing a continued uptrend in their stock prices. Industry watchers are still unable to gauge the magnitude of economic revival due to the emergence of new COVID strains in several parts of the world including the United States.Ī number of medical instrument companies, which had confirmed a gradual rebound in their base businesses earlier in 2021, once again witnessed staffing shortages and supply-chain-related hazards in the last few months of 2021 and the beginning of 2022, thanks to the emergence of the more contagious variants of coronavirus. Through the more than two-year-long healthcare emergency, this industry has been swinging back and forth between crisis and opportunities. The dynamic nature of the COVID-19 crisis has further altered the industry landscape. The medical instrument industry has witnessed a significant transformation in the nature of business lately, leading to increased investment in R&D for the development of cutting-edge technologies. Chicago, IL – Ap– Today, Zacks Equity Research discusses Alcon ALC, STERIS plc STE and Abiomed ABMD.
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