Health sector expects to shrink in 2020

Health sector expects to shrink in 2020
06 August 2020

According to the COVID-19 Outbreak Health Sector Impact Survey, 54% of managers in the health sector stated that they had difficulties in accessing health services during the coronavirus process. 46% of the survey participants underline that the scientific congresses with physical attendance should not be held until the end of 2020 by continuing the measures, while the health sector will shrink in 2020 and will remain stable in 2021.

*** This release is originally published in Turkish.
Google Translate Application translates the content you see on this page.***

ISTANBUL (TR) - The new type of coronavirus epidemic, which has influenced the whole world, has changed the balances in many sectors and the dynamics of the health sector, which is always in close contact with the public and is at the forefront in the fight against the epidemic, has also started to reshape. Econix Research conducted a study titled "COVID-19 Outbreak Health Sector Impact Survey" with the participation of managers from public institution, medicine, healthcare, medical equipment and device company, academic institution, non-governmental organization and consultancy, clinical research companies to address the effects of the epidemic on the health sector. The two most striking points in the research were the expectations that the sector will shrink with its commitment to the epidemic measures.

46% of the health sector does not want any congress by the end of the year

According to the results of the survey, which was attended by managers from the health sector, 46% of the participants stated that face-to-face clinical and scientific congresses should never be held by the end of 2020. 65% of them said that they are in favour of holding possible meetings online in 2020.

75% of the industry does not arrange face to face meetings

The COVID-19 Outbreak Health Sector Impact Survey revealed that 48% of the healthcare industry was partly working and 47% was entirely at home during the epidemic process. 52% of those who went to work from home said that they would continue to work from the office after 3 months and 30% after 6 months. Prudent approaches were reflected in meeting preferences. While 75% stated that they do not hold face-to-face meetings inside or outside the institution, 68% said that their institutions do not plan to hold any general meetings in 2020.

"Digitalization will meet the expectations of healthcare professionals."

The head of the research team Güvenç Koçkaya pointed out that the basic need in the table revealed by the survey is to develop solutions integrated with the age: “It is, of course, impossible for a sector that focuses on human health, whether its field of activity is medicine, medical device or consultancy, to cut off its contact with people. However, while the sector has taken the burden of the epidemic process to such an extent and felt the seriousness of the situation deeply, it is also difficult to loosen the measures it takes in itself. At this point, it is necessary to implement the digital transformation, which is now essential for the whole world, with projects that are grounded in the health sector and make an online atmosphere as sustainable as it can be. ”

The proportion of those who did not leave their jobs during the epidemic is 78%

In the health sector, coronavirus measures were not left, and the workflow continued with intensity. The survey results showed that 78% of the participants did not apply for free permit support brought by the public institutions. Similarly, applications for short-time working allowance were also low in the health sector.

The sector expects to shrink 4.91% in 2020 and remain stable in 2021

Econix Research also focused on the sales expectations of the health sector. 44% of the participants stated that the sector's sales would decrease by more than 10% in 2020, while 11% anticipate an increase of more than 10%. While looking at the average,  it was seen that the sector expects a 4.91% decrease in 2020 and an average rise of 0.38% in 2021. Dr. Güvenç Koçkaya said: “The health sector predicts that it will end 2020 by shrinking, contrary to the general perception in the society. No growth is expected in 2021. In other words, we can interpret that the health sector does not foresee to catch the 2019 figures until 2022. ”

There are disagreements about pricing Covid-19 vaccine

Another striking point revealed by the survey was the diversity of views on how the pricing should be if the COVID-19 vaccine is available. While 38% of the participants stated that the producer company should offer pricing with R&D and production costs, 22% expressed the opinion that the manufacturer only priced the production cost, 21% made value-based pricing and 19% gave the vaccine free of charge. Dr. Güvenç Koçkaya said, “Although there are different opinions, only 21% of the health sector thinks that companies, other than R&D and production costs, will have profitability. The remaining 79% state that vaccine pricing should be free of charge or equal to the costs of R&D or production. The main reason for this is that unless the pandemic ends, the world will not be as before, and nobody, including the health sector, will be good unless the world is as before. At this point, it is obvious that the vaccine is a social responsibility party. ”