Heel Incision Devices Market

COVID-19 Impact Analysis

• COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020. 
• Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19. 
• With COVID-19, the supply chain of the material required to manufacture heel incision devices has been disrupted in many countries. In addition, the market growth of heel incision devices is declining as the manufacturers of these medical devices have slowed down their production due to the pandemic. Therefore, COVID 19 is expected to have a significant impact on the heel incision devices market.

Top Impacting Factors
Increase in cases of preterm and premature births all across the world is fueling the growth of the heel incision devices market. This is attributed to the fact that heel incision devices are often used to take blood samples in such cases.
Newly developed heel incision devices come with improvements in their design, and are highly accurate and efficient, which help them to monitor babies born preterm. This factor has fueled the growth of the heel incision devices market.
In addition, rise in awareness regarding infant care products, which include heel incision devices is one of the factors that boosts the growth of the global heel incision devices market.
However, high cost associated with heel incision devices and the lack of skilled professionals who can handle these devices in developing nations are the factors that impede the heel incision devices market.
Key Market Trends

• The newborns segment dominates the heel incision devices market, as doctors prefer screening newborns in the first two days after birth to diagnose diseases and conditions.
• In terms of end user, the hospitals segment is projected to hold a major share of the heel incision devices during the forecast period. This is attributed to the fact that heel incision devices are often used in hospitals where they monitor premature babies.
• North America held a major market share of the heel incision devices market in 2020, owing to the mandatory newborn screening required in hospitals, as the Newborn Screening Saves Lives Act has been implemented across the region. 
• The Asia-Pacific heel incision devices market is anticipated to exhibit lucrative growth opportunities during the forecast period, owing to increase in number of preterm births in many nations of this region such as India and China. 

Key Benefits of the Report

• This study presents the analytical depiction of the heel incision devices industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the heel incision devices market share.
• The current market is quantitatively analyzed to highlight the market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Heel Incision Devices Report

• Which are the leading players active in the heel incision devices market?
• How is each segment of the market expected to grow during the forecast period?
• What are the adoption trends for the heel incision devices market in emerging economies and established economies across the world?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What future projections would help in taking further strategic steps in the market?
• What are the impacts of COVID-19 on the industry?
• What are heel incision devices?
• What are the current and predicted trends of the market?