The U.S. Projected to Lead The COVID-19 Mitigation Products Market: $55 to $112 Billion* per annum, Followed by China
WASHINGTON, June 29, 2020 /PRNewswire/ -- HSRC announces the publication of its research report, "US COVID-19 Pandemic Mitigation Products Market - 2020-2024". According to this most up-to-update analysis, the U.S. is set to lead the Global market* with an annual market share of 22% to 25% of the cumulative 2020-2024 $1.7–$2.2 Trillion global market.
The U.S. is the leading nation in healthcare spending, resources, medical research, and sophisticated medical care. The U.S. spends $3.3 trillion (IMF, 2019) per year on healthcare, which is more than the combined expenditures of China, Japan, Germany, India, the United Kingdom, Italy, Brazil, Canada, Russia, South Korea, Spain, Australia, Mexico, Indonesia, the Netherlands, Saudi Arabia, Turkey and Switzerland ($3.24 trillion).
When compared directly to China, given the rivalry between the PRC and the USA, it might be important to note that China is very much still a developing country in the field of healthcare infrastructure and spending. China spends 23 times less than the U.S. in terms of per-capita health care expenses ($430 to $10,100) and has 9.6 times (2019 data) fewer intensive care unit hospital beds per hundred thousand people than the U.S. does (34.7 to 3.6). That said, due to the size of China's population, the PRC has half the overall number of ICU beds that the U.S. has. However, the U.S.'s advantages seemed not to be an impediment to having 29 times more COVID-19 infected cases (2,424,168 to 83,430) and 27 times more COVID related deaths than China (123,473 to 4,634).
Despite the huge spending, the U.S. became the leading COVID sufferer and mitigation market leader. HSRC estimates that there are a number of reasons why this has happened:
The USA is and will continue to be the largest COVID-19 mitigation products market because at this point that's the only option it has, and it has the resources to invest whatever it takes to mitigate the pandemic.
This should be contrasted to China's successful response, which, it is important to point out, was not solely, as many believe, due to its authoritarian government. There are six elements which dominated the effective mitigation of China's COVID-19 outbreak:
The global COVID-19 Pandemic Mitigation Products Market - 2020-2024 report presents a thorough market analysis of 57 products & services sub-reports, 6 vertical, 4 revenue source, 5 regional and 13 national markets providing in-depth analysis of this newly formed market.
This 1020-page 5-volume market mega report is the first and most comprehensive review of the new global COVID-19 Pandemic Mitigation Products & Services market available today. As countries start to re-open, and you do your best to recover your business, the report brings to your attention multi-billion business opportunities that may assist your struggle to retain business continuity and growth. This newly formed market is not limited to the healthcare supplier's industry; many business opportunities are being created for industries from contract tracing to blockchain, from AI, big data & deep learning to nonwoven fabrics.
Browse through 5 volumes market data, 1020 pages, 728 tables & Figures, 212 submarkets and view a comprehensive Table of Content here: ToC
To adhere to our high standards of research, as nobody can truly forecast the future of this on-going pandemic, we include in the report two scenarios:
The objective of this report is to provide today's strategic decision-makers with an expert 360-degree, time-sensitive, detailed view of this interconnected market and provides answers to questions such as:
With a highly fragmented market we address the "money trail" – each dollar spent in the global COVID-19 Pandemic Mitigation market is analyzed and crosschecked via 5 orthogonal viewpoints:
(*) Market size is scenario dependent.
For more information, or to purchase a copy, please visit us here.
About the analysts that composed this report:
As early as January 20, 2020 we recruited all our analysts to research the COVID-19 pandemic mitigation related products & services purchases. We interviewed hundreds of experts, participated in more than 95 conferences and webinars, reviewed more than 1,500 publications and interviewed executives of more than 65 pandemic related companies.
Given the geographical reach of the coronavirus, its significant personal effect, and the serious economic disturbance it has affected, there is not a specific HSRC activity that has not been touched by it. In spite of the pandemic's challenges, HSRC continues to support our customers and execute our quest to develop the mitigation of COVID-19. During this era and despite difficulties, HSRC operations have continued to publish COVID-19 related market research reports.
It has been exciting to see how developing tecno-clinical methods and technologies perform a key role in the response to COVID-19. Companies, big and small, turned to enroll in the war against the deadly virus and to accelerate efforts to help others to create and improve COVID-19 mitigation products and services.
About Homeland Security Research Corp. (HSRC)
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