How COVID-19 Impacted on Periodontitis in Healthcare Industry ?
COVID-19 Impact on Periodontitis in Healthcare Industry Overview The COVID-19 pandemic has posed immense pressure over the healthcare industry and proved to be an unprecedented challenge to global healthcare companies. The COVID-19 pandemic has deprived hundreds of medical services and hindered several ongoing clinical trials. With the introduction of COVID-19 vaccines, new COVID-19 infections have declined, but the attack of mutant corona strain and second COVID-19 wave has led to the overall increase in mortality rate and again badly affected the healthcare industry, among others. Moreover, the upcoming delta strain of the COVID-19 virus, which has affected Singapore, Indonesia, and France, is expected to hamper the market's growth in the future. The most common symptoms associated with coronavirus disease include cough, fever, diarrhea, sore throat, and loss of smell or taste. Patients affected with COVID-19 are at increased risk of developing hepatic manifestations and also experiences damage to liver tissues. COVID-19 has led to the closure and reduced hours of dental practices except for urgent and emergency services, thus limiting routine care and disease prevention. However, regardless of the pandemic of COVID-19, increasing dental disorders like periodontal disorders among the geriatric population have increased the demand for periodontitis treatment. Periodontitis treatment among dental diseases includes aerosol-generating procedures, including aerosol implants that can increase the chances of viral transmission. The pandemic offers an opportunity for the dental profession to shift more toward non-aerosolizing, prevention-centric approaches to care and away from surgical interventions. Direct effects of COVID-19 on oral health include periodontitis, vesiculobullous lesions, and necrotizing periodontal disease. IMPACT ON PRICE The outbreak of the coronavirus disease pandemic (COVID-19) is on the increase and is disrupting lives around the world. Lockdowns, isolation, and widespread closures are being implemented to slow the spread of the virus to millions of lives saved. Vaccination is going on at an accelerated pace so as to deal with such debilitating viral diseases. Several countries are facing a multi-layered crisis, including strains on health systems, among others. With the sudden increase in COVID-19 cases, the people's concerns for their better health have also increased, and the link between oral health and COVID-19 infection also expand the health to oral. The Asian healthcare industry heavily relies on medical devices manufactured in China, which significantly impacts costs as medical devices are not properly available. For instance, Moreover, a large number of medical devices are manufactured in different locations, and the supply of medical equipment is reduced due to restrictions on movement from one location to another. So, the costs have increased for dental devices, among other medical devices. Thus, it signifies that the COVID-19 pandemic has led to an increased price of periodontitis treatment products during the fiscal year 2019-2021. IMPACT ON DEMAND The outbreak of the coronavirus is a result of various markets around the world. It is the cause of lockdown and isolation, which ultimately has an impact on global economic activity. COVID-19 is expected to create a sharp drop for consumables and dental implants. However, due to accelerating demand, a rapid recovery is expected once the dust settles. It includes the orthopedics, cardiology, and dental product industries, among others. These factors have forced market players to strengthen further business continuity, manufacturing facilities, and the global supply chain. The rising awareness of oral hygiene amidst the COVID-19 pandemic has increased the demand for a product required for oral care. The increasing studies for SARS-COV-2 indicated that proper oral hygiene had been reported to decrease infection chances, increasing the demand for mouth care products. However, due to restrictions and aims to reduce COVID-19 transmission, 30% of respondents had visited a dentist less frequently during the pandemic. For instance, · In March 2020, Zimmer Biomet reported a significant and sudden global drop in the volumes of elective procedures. As a result, based on preliminary unaudited financial results, Zimmer Biomet estimated that revenue growth for the first quarter of 2020 would be approximately -9.5 to -10.5% on a reported basis and -8.5 to -9.5% on a constant currency basis compared to the first quarter of 2019. The company is engaged in manufacturing dental implants and dental membranes, and the closure of dental practices has impacted the overall company's sales Zimmer Biomet expects the decline in volumes of elective procedures seen in the first quarter to continue to have a significant negative impact in the second quarter of 2020. Given the continuing uncertainty, the company is currently unable to quantify the impact on its operating results, its financial situation, and its cash flows, which could be significant for 2020. The impact of COVID-19 has dramatically decreased the number of patients who go for dental procedures, including periodontitis treatment, as there is a high chance of adverse health effects of COVID-19. IMPACT ON SUPPLY Various companies are facing a large number of challenges due to the coming of the novel coronavirus. One such issue is the uncertainty surrounding the impact of COVID-19 on medical device industry supply chains. Amalgamation is expected in the dental industry. Manufacturers of large dental products can engage in small businesses. Dental firms involved in supply chain distribution can diversify by producing additional consulting firms or dental equipment and supplies. The companies are at risk, and the ability to retain independent agents and distributors who sell their products depends on a limited number of suppliers for key raw materials. Up till now, dentistry has been facing its darkest hour because of the growth and spread of the coronavirus pandemic. Dental clinics all over the U.S. have been closed for more than two months. Given that the pandemic is still on the growth curve, there is no revival hope anytime soon. It thus signifies that due to continuous lockdown and several restrictions by government authorities, the companies and patients are facing disruption of the supply chain for oral care. However, oral care is categorized under essential care, which lowers the effect of supply chain disruption during COVID-19. STRATEGIC DECISIONS OF MANUFACTURERS Collaboration, agreements, strategic initiatives, and product launches by market players will help them expand their product portfolio and provide appropriate products to the consumer. It will lead to increased product sales and, hence, will positively impact the overall company's revenue. · The COVID-19 has negatively impacted the dentistry market. According to the Health Policy Institute (HPI) March 23 survey report, except for emergency patients, 76 percent of dental practices were closed, 19 percent were completely closed, and 5 percent were open despite the decline. In the week of April 6, 79 percent of dental practices were closed, except for emergency patients, 16 percent were completely closed, and three percent were open despite a decrease in the number of patients During this time of COVID-19 challenge and disruption, Zimmer Biomet, Dentsply Sirona, among others, is adopting several steps to maintain their position in the market and continuously attain lucrative growth. For instances, · Zimmer Biomet has positioned the company to help healthcare systems, clients, and patients now. It has adopted steps to further strengthen the business continuity across its manufacturing facilities and overall supply chain, manufacturing modulation production · Dentsply Sirona has also stated that the company is closely monitoring its global manufacturing sites and raw material supply chains to avoid product delivery delays. Moreover, the company is taking appropriate precautions and implementing safety protocols in order to protect its employees in the context of COVID-19. The company has also launched an illness prevention and awareness intranet site for providing support and guidance to its employees Moreover, by keeping in mind the rising prevalence of periodontitis, market players are adopting initiatives to fulfill patient's and professional's demands. Thus, companies operating in the periodontitis market are adopting several strategies, including agreements and market expansion, thereby enhancing their business. These strategic decisions by the companies are expected to provide significant opportunities for the market players operating in the oral care market. CONCLUSION As the pandemic of COVID-19 has resulted in several restrictions throughout the borders, manufacturers of periodontitis products can still manage their stocks. Various manufacturers have allowed their employees to work in a clean and safe environment to boost the production of essential products at various manufacturing facilities across several regions of the world, helping them maintain a continuous supply chain. However, decreased patient visits have impacted the market, but the rising demand for periodontitis treatment leads to continuous demand for dental implants. Moreover, by raising the prices, the companies are gaining extra profit, helping them combat the negative effect on overall revenue.