Market Insights: Coronavirus

Business opportunities during coronavirus pandemic

The coronavirus pandemic showed the interconnection nature of the globe. It was first identified in late last year and countries are still struggling to get ahead of it.

Corona pandemic impacted the world in many different ways. For example, global shutdowns and social distancing lowered global businesses and tourism tragically. Still, many industries were saved due to technological development. But as they say, even a dead clock shows the correct time twice daily, which means some industries, namely healthcare, agriculture, ICT, e-commerce, and food processing and delivery, seemingly gained new opportunities derived from this current pandemic situation.

Huge investments and new businesses related to health

The importance of health increased like never before during COVID-19. There will be huge investments and new businesses in this sector, alongside a significant emphasis on the increased production of healthcare supplies and hygiene products. The demand for medical supplies for hospitals and the general public is primarily driven by the growing awareness of environmental & personal hygiene. It led to rising demand for disinfectants, expansion of healthcare settings owing to increasing COVID 19 patients, increased requirement for PPE kits & N95 masks globally, rising demand for ventilators, and increasing need for diagnostic supplies. Besides, repurposing liquor production lines to manufacture sanitizers offers an opportunity for players in this market.

Good for pharmaceutical companies

As the demand for medical supplies increases, it is said that the Pharmaceutical companies will be one of the biggest gainers in the post-COVID-19 world. Similarly, medical equipment suppliers. This has also positively impacted not only large companies but also on local self-employed individuals and small scale producers. They can supply masks and natural herbal sanitizers, gloves, etc., especially in developing countries. The most important thing is that the global shutdown made many companies recognize their over-reliance on China supplies. As a result, it encouraged global companies to actively seek new suppliers and manufacturing locations to diversify their supply-chains.