Medical devices - Casestudy 3

Tue, 09 June 2020 10:32

Requirement

One of the manufacturers of hospital consumables was looking for data on essential protective consumables during the COVID-19 pandemic. The client was interested in the data for demand-supply analysis, the required percentageramp-up in production, and market forecasts for 2020 and 2021.

Solution

The globalCOVID-19 outbreak has seen an exponential increase in the demand for essential protective consumables. Most manufacturers have increased their production capacities to meet the market demand. We studied COVID-19 epidemiology country-wise, along with the demand and supply of essential protective consumables. Later, the total production of each country was calculated after identifying data on manufacturers and their production capacities, along with the quantities produced. This data was then validated from authentic sources and government publications. The same data was added up to derive global production.

Similarly, the daily consumption of these devices was tracked using authentic sources, and the demand-supply gap was analyzed. Further, to serve the client requirement on market forecasts for 2020 and 2021, quarterly forecasts were provided for the dynamic market. To provide better insights into market dynamics, forecasts were explicitly providedquarterly, rather than annually. This data was used by the client to narrow downthe required production ramp-up.