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Significant Impact of COVID-19 on Bevacizumab | Healthcare Industry

Impact of COVID-19 on Bevacizumab in Healthcare Industry

In the city of Wuhan, China the Coronavirus disease (COVID-19) outbreak is originated. Coronavirus disease (COVID-19) has spread across the globe, with large number of cases having been reported worldwide. The Coronavirus disease (COVID-19) pandemic is not only creating health crisis but also it is unfavorably affecting on healthcare, economies and pharmaceutical sector as well as at their core.

As COVID-19 is the infectious disease, its spread is endless. It have causes a nationwide outbreak as well as public health crisis. Cancer treatment and therapies drugs manufacturing companies have also faced some difficulties in manufacturing and distribution of the drugs and medication due to locked down, supply chain and social distancing restrictions.

In some recent studies, it was stated that Bevacizumab, an anti-VEGF drug, approved by the FDA and widely used in clinical oncotherapy, is a promising drug for ALI/ARDS in COVID-19 through suppression of pulmonary edema which have increased its demand in the market and also increasing cancer patients have also driven the market demand and supply.

PRICE IMPACT

The Coronavirus disease (COVID-19) pandemic has an enormous impact on the global economy market. The demand for cancer treatment products has increased along with its prices in the treatment of COVID.

In addition, the sum of research and development and marketing, selling, and administrative expenses have been increased in 2020, which is driven primarily by the development expenses for COVID-19 therapies.

For instance,

Bevacizumab plus standard care markedly improves the oxygen ratios in COVID 19 patients and shows improvement in oxygen-support status, patients were discharged, and none of the patients have shown worsen oxygen-support status nor die.

Also, the demand for cancer treatment products will be increased, and the products are upgraded by top importer countries like U.S., which have increased the sales and prices of the bevacizumab.

For instance,

The drug Avast in (bevacizumab) has been increased to $842 for a supply of 4 milliliters dose in 2020.

Due to the increase in demand, the use of bevacizumab in the COVID treatment and increase in production and manufacturing expenses have contributed to product prices.

IMPACT ON DEMAND

Coronavirus disease (COVID-19) is an infectious disease caused by a SARS-CoV-2 virus, while a large population is affected by this COVID-19 virus. Coronavirus disease 2019 (Covid-19) is an ongoing worldwide pandemic; nearly all the countries have taken initiative action under locked down and social distancing restriction.

Reduction in cancer treatment across the globe has affected the demand for cancer treatment and their drugs like bevacizumab, especially in the first quarter, but after the second quarter of 2020, the demand for the drug has increased because of its Efficacy and tolerability of in patients with severe COVID-19.

For Instance-

Recent evidence revealed higher blood Vascular Endothelial Growth Factor (VEGF) levels in COVID-19 patients compared with healthy controls. VEGF is considered the most potent vascular permeability inducer. Numerous studies have revealed that VEGF was a key factor and a potential therapeutic target in ALI and ARDS. Bevacizumab, an anti-VEGF drug, approved by the FDA on February 26, 2004, and widely used in clinical oncotherapy, is a promising drug for ALI/ARDS in COVID-19 through suppression of pulmonary edema.

Also, the increase in cancer patients and the rise in the demand for the treatment of various types of drugs have propelled the market demand and sales of major market players.

For instance,

·         There is an increase in the sales of biosimilar drugs which includes bevacizumab, for major market players. For instance, the manufacturing company Pfizer Inc., the sales of biosimilar segment is increased from USD 1,527 million to USD 911 million with the increase in demand for the drugs in COVID patients and the cancer treatment.

IMPACT ON SUPPLY CHAIN

The COVID-19 pandemic has transformed many organizations’ business environment; several problems, including export and travel ban by some producing countries and lockdowns that have caused producers to (temporarily) shut down, have disrupted supply access.

Difficulties or delays in manufacturing, sales, or marketing; supply disruptions, shortages, or stock-outs at our facilities; and legal or regulatory actions all are caused due to the COVID 19 pandemic. But it does not affect the sales and supply of the drug bevacizumab that much because of the rise in new diagnoses or cancer and the efficiency of the drug in treating the COVID patients. These are some of the reasons which have maintained the supply of the drug throughout the year

With the rise in demand and supply of the drugs, many manufacturing companies have launched their new products, which have increased their sales.

For instance-

·         The sales of the drug MVASI (bevacizumab) from the manufacturing company Amgen Inc. have increased more than 20% in the U.S., which is USD 121 million in 2019 to USD 650 million in 2020 and for the rest of the world, drug sales increased from USD 6 million in 2019 to USD 142 million in 2020. This increase in the supply of the drug is with the increasing treatment for cancer.

·         Similarly, the sales of the global segment generics, which include biologics drugs such as bevacizumab of the company Dr. Reddy’s Laboratories Ltd, have also been increased from USD 1,858.27 million in 2019 to USD 2,079.96 million in 2020. This increase in sales is due to the increase in healthcare and Research & Development due to COVID 19.

STRATEGIC DECISIONS FOR MANUFACTURERS

A large population is affected by this COVID-19 virus, and its spread is expanding worldwide for the last few months. To deal with the COVID-19 outbreak challenges, many bevacizumab and biosimilar market players are creating new strategies. The company is now opting for digital media such as telecommunication, mobile applications, webinars, and other digital media to support patient requirements to tackle the pandemic situation and increase the company sales with the increasing demand and growth.

Moreover, to accomplish the market demand, small market players are utilizing the partnership agreement strategy. It is predicted that these strategies are anticipated to escalate up the company revenue and its growth in the forecasted period. They have launched new products and formed strategic alliances with each other to carry on the supply during the pandemic.

For instance-

·         In 2020, Amgen Inc. had advanced their innovative pipeline, successfully integrated MVASI, acquired in November 2019, a biosimilar to Avast in (bevacizumab), and has advanced their international expansion continued to provide an uninterrupted supply of their medicines globally through the COVID-19 pandemic

·         In May 2020, the Food and Drug Administration approved atezolizumab in combination with bevacizumab (TECENTRIQ and AVASTIN, Genentech Inc.) for patients with unrespectable or metastatic hepatocellular carcinoma who have not received prior systemic therapy

CONCLUSION

It can be concluded that the COVID-19 pandemic has a positive impact on the global bevacizumab market with the increase in the price, supply, and demand of the bevacizumab. However, in the crisis call, pharmaceutical market players, government bodies, and healthcare organizations work closely with healthcare professionals, customers, and patients for the betterment of public health and to fulfill the demand.

However, companies and government bodies exclusively concentrate on how they can make the most effective and best contribution to control the spread of the virus and save lives. They are also ramping up the production of essential medication to a new level and ensure that speed doesn’t affect or destroy the quality of products.

[rajyog7493]

What Impacted COVID-19 on Bevacizumab ?

Impact of COVID-19 on Bevacizumab in Healthcare Industry

In the city of Wuhan, China the Coronavirus disease (COVID-19) outbreak is originated. Coronavirus disease (COVID-19) has spread across the globe, with large number of cases having been reported worldwide. The Coronavirus disease (COVID-19) pandemic is not only creating health crisis but also it is unfavorably affecting on healthcare, economies and pharmaceutical sector as well as at their core.

As COVID-19 is the infectious disease, its spread is endless. It have causes a nationwide outbreak as well as public health crisis. Cancer treatment and therapies drugs manufacturing companies have also faced some difficulties in manufacturing and distribution of the drugs and medication due to locked down, supply chain and social distancing restrictions.

In some recent studies, it was stated that Bevacizumab, an anti-VEGF drug, approved by the FDA and widely used in clinical oncotherapy, is a promising drug for ALI/ARDS in COVID-19 through suppression of pulmonary edema which have increased its demand in the market and also increasing cancer patients have also driven the market demand and supply.

PRICE IMPACT

The Coronavirus disease (COVID-19) pandemic has an enormous impact on the global economy market. The demand for cancer treatment products has increased along with its prices in the treatment of COVID.

In addition, the sum of research and development and marketing, selling, and administrative expenses have been increased in 2020, which is driven primarily by the development expenses for COVID-19 therapies.

For instance,

Bevacizumab plus standard care markedly improves the oxygen ratios in COVID 19 patients and shows improvement in oxygen-support status, patients were discharged, and none of the patients have shown worsen oxygen-support status nor die.

Also, the demand for cancer treatment products will be increased, and the products are upgraded by top importer countries like U.S., which have increased the sales and prices of the bevacizumab.

For instance,

The drug Avast in (bevacizumab) has been increased to $842 for a supply of 4 milliliters dose in 2020.

Due to the increase in demand, the use of bevacizumab in the COVID treatment and increase in production and manufacturing expenses have contributed to product prices.

IMPACT ON DEMAND

Coronavirus disease (COVID-19) is an infectious disease caused by a SARS-CoV-2 virus, while a large population is affected by this COVID-19 virus. Coronavirus disease 2019 (Covid-19) is an ongoing worldwide pandemic; nearly all the countries have taken initiative action under locked down and social distancing restriction.

Reduction in cancer treatment across the globe has affected the demand for cancer treatment and their drugs like bevacizumab, especially in the first quarter, but after the second quarter of 2020, the demand for the drug has increased because of its Efficacy and tolerability of in patients with severe COVID-19.

For Instance-

Recent evidence revealed higher blood Vascular Endothelial Growth Factor (VEGF) levels in COVID-19 patients compared with healthy controls. VEGF is considered the most potent vascular permeability inducer. Numerous studies have revealed that VEGF was a key factor and a potential therapeutic target in ALI and ARDS. Bevacizumab, an anti-VEGF drug, approved by the FDA on February 26, 2004, and widely used in clinical oncotherapy, is a promising drug for ALI/ARDS in COVID-19 through suppression of pulmonary edema.

Also, the increase in cancer patients and the rise in the demand for the treatment of various types of drugs have propelled the market demand and sales of major market players.

For instance,

·         There is an increase in the sales of biosimilar drugs which includes bevacizumab, for major market players. For instance, the manufacturing company Pfizer Inc., the sales of biosimilar segment is increased from USD 1,527 million to USD 911 million with the increase in demand for the drugs in COVID patients and the cancer treatment.

IMPACT ON SUPPLY CHAIN

The COVID-19 pandemic has transformed many organizations’ business environment; several problems, including export and travel ban by some producing countries and lockdowns that have caused producers to (temporarily) shut down, have disrupted supply access.

Difficulties or delays in manufacturing, sales, or marketing; supply disruptions, shortages, or stock-outs at our facilities; and legal or regulatory actions all are caused due to the COVID 19 pandemic. But it does not affect the sales and supply of the drug bevacizumab that much because of the rise in new diagnoses or cancer and the efficiency of the drug in treating the COVID patients. These are some of the reasons which have maintained the supply of the drug throughout the year

With the rise in demand and supply of the drugs, many manufacturing companies have launched their new products, which have increased their sales.

For instance-

·         The sales of the drug MVASI (bevacizumab) from the manufacturing company Amgen Inc. have increased more than 20% in the U.S., which is USD 121 million in 2019 to USD 650 million in 2020 and for the rest of the world, drug sales increased from USD 6 million in 2019 to USD 142 million in 2020. This increase in the supply of the drug is with the increasing treatment for cancer.

·         Similarly, the sales of the global segment generics, which include biologics drugs such as bevacizumab of the company Dr. Reddy’s Laboratories Ltd, have also been increased from USD 1,858.27 million in 2019 to USD 2,079.96 million in 2020. This increase in sales is due to the increase in healthcare and Research & Development due to COVID 19.

STRATEGIC DECISIONS FOR MANUFACTURERS

A large population is affected by this COVID-19 virus, and its spread is expanding worldwide for the last few months. To deal with the COVID-19 outbreak challenges, many bevacizumab and biosimilar market players are creating new strategies. The company is now opting for digital media such as telecommunication, mobile applications, webinars, and other digital media to support patient requirements to tackle the pandemic situation and increase the company sales with the increasing demand and growth.

Moreover, to accomplish the market demand, small market players are utilizing the partnership agreement strategy. It is predicted that these strategies are anticipated to escalate up the company revenue and its growth in the forecasted period. They have launched new products and formed strategic alliances with each other to carry on the supply during the pandemic.

For instance-

·         In 2020, Amgen Inc. had advanced their innovative pipeline, successfully integrated MVASI, acquired in November 2019, a biosimilar to Avast in (bevacizumab), and has advanced their international expansion continued to provide an uninterrupted supply of their medicines globally through the COVID-19 pandemic

·         In May 2020, the Food and Drug Administration approved atezolizumab in combination with bevacizumab (TECENTRIQ and AVASTIN, Genentech Inc.) for patients with unrespectable or metastatic hepatocellular carcinoma who have not received prior systemic therapy

CONCLUSION

It can be concluded that the COVID-19 pandemic has a positive impact on the global bevacizumab market with the increase in the price, supply, and demand of the bevacizumab. However, in the crisis call, pharmaceutical market players, government bodies, and healthcare organizations work closely with healthcare professionals, customers, and patients for the betterment of public health and to fulfill the demand.

However, companies and government bodies exclusively concentrate on how they can make the most effective and best contribution to control the spread of the virus and save lives. They are also ramping up the production of essential medication to a new level and ensure that speed doesn’t affect or destroy the quality of products.

[rajyog7493]

Significant Impact of COVID-19 on Tissue Paper | FMCG Industry

Impact of COVID-19 on Tissue Paper in the FMCG Industry

COVID-19 pandemic has influenced the whole planet with its major impacts on the economy and businesses across the globe. The COVID-19 spread worldwide in unprecedented ways due to its high infectious and contagious nature and lack of availability of its vaccine. As a result, the greatest medical challenge in the 21st century is yet to be faced by physicians worldwide. Though the emergence of the virus can be traced back to Asia, many European countries along with the U.S. have been struck massively by the pandemic. The virus has spread across all regions ranging from North America, Europe, Asia-Pacific, Middle East, and Africa up to South America. The COVID-19 has been declared as a pandemic by World Health Organization (WHO) due to its increased spread across the globe. After the declaration of the pandemic, various countries announced the complete lockdown such as India, China, and other Asian countries to decrease its spread. According to the latest situation report by World Health Organization (WHO) stated 175 million cases of Corona have been reported globally and 5 million patients are dead due to the coronavirus. On a slightly positive note, a total of 160 million people have recovered and a total of 5 million vaccine doses have been administered as well.

Tissue products are useful for hygiene and cleaning. Tissue papers when used for hand drying, paper towels assist to minimise the number of germs on hands and the transmission of bacteria. Using tissue products for personal hygiene can help prevent illness from spreading. Napkins, bath tissue, feminine care items are different types of products related to tissue papers.

The global tissue paper industry has witnessed major developments over the past couple of years due to advancements made in the manufacturing of tissue papers. Tissue products are practical and hygienic, lowering the danger of communicable illnesses. Tissue products are a sustainable option since they are made from fiber derived from certified, sustainably managed forests or recycled paper.

The recent outbreak of COVID-19 had a positive impact on the tissue paper market as there was an increased demand for tissue papers and toilet papers in several European, North American, and South American countries.

IMPACT ON DEMAND

The novel COVID-19 outbreak led to a considerable rise in the demand for tissue papers and toilet papers. In the initial days, people were severely threatened by the COVID-19 pandemic and were more inclined to hoard toilet paper in the early days of the epidemic.

Data from Georgia-Pacific, maker of the Angel Soft and Quilted Northern brands, shows that the average American household, which consists of 3 people, uses about 409 rolls of toilet paper a year. 

In reality, there was never an actual scarcity of this product, especially because several nations, including the United States, are self-sufficient in it. The reason for the mass panic is unknown, although it is considered to have started in Australia following the country's first verified death from COVID-19, and in Hong Kong, it was sparked by internet rumors concerning the supply chain. When the supply of toilet paper caught up with the short rise in demand, the fear faded.

Sales of toilet paper increased by up to 700 percent from February to March 2020 as the new coronavirus spread over the Western Hemisphere. In March 2020, the world was gripped by the Great Toilet Paper Shortage of 2020, as people rushed to stockpile toilet papers.

For instance,

·         In America, people were seemed to be stocking up substances for days. But the fear of the coronavirus set up after former president, Donald Trump declared a national emergency. Along with toilet paper, pasta, and meat, bottles of virgin olive oil also flew off the shelves

 IMPACT ON SUPPLY CHAIN

The government throughout nations imposed total lockdown which led to supply chain disruptions. Consequently, the supply chain came to standstill due to the closure of borders. Even though the demand for these products was high, the availability was affected due to disruptions in the supply chain, trade, and travel restrictions. Supply of raw material was also affected, due to which the production was restricted.

Since the outbreak of the COVID-19 pandemic, tissue manufacturers in the United States have worked hard to meet demand by increasing production, improving operational efficiency, and collaborating with supply chains to get more goods to end-users. In 2020, American tissue producers set new production records and exported more tissue than ever before. The industry has continued to function safely and reliably, 52 weeks a year, to satisfy the demands of customers for vital products

For instance,

AF&PA (American Forest & Paper Association) members supplied more than 22,000 short tonnes of parent roll tissue each day in February and March, an all-time high for the industry. Tissue mills generated over 700,000 short tonnes of parent roll tissue in March alone, the most in any month since 2007. This equates to more than 4 pounds of tissue per person in the United States.

IMPACT ON PRICE

The tissue paper and its supplementary product prices were impacted due to COVID-19 up to some extent. Factors responsible for it were a rapid rise in demand during the epidemic, individuals demanded more toilet paper. Consumer toilet paper and commercial toilet paper are the two markets in the hygiene paper business.

With people staying at home because of business closings and shelter-in-place orders, the demand for consumer toilet paper was skyrocketed while the demand for commercial toilet paper was reduced.

For instance,

·         In March 2021, Kimberly-Clark Corp said that it would raise prices on many of its products including Scott toilet paper, tissues, and diapers in the United States and Canada to offset rising commodity costs

The company saw its products roll off supermarket shelves as shoppers stockpiled essential staples ahead of curfews and lockdowns to stem the spread of COVID-19.

STRATEGIC DECISIONS BY MANUFACTURERS AND RETAILERS OF NORTH AMERICA, EUROPE, AND THE SOUTH AMERICAN REGION

Several manufacturers are following strategic patterns and procedures to gain an edge on decisions taken regarding production as well as sales. Some of such decisions include establishing a purchasing limit on tissue papers among others.

For instance,

·         To keep the shelves in their tissue sections supplied, retailers in North America and Europe had to limit the amount of tissue purchased by each client. This was surely great news for tissue mills, which were able to activate all of their reserve capacity to meet the unexpected demand spike. For the past few weeks, consumer tissue mills in North America and Europe have been operating at maximum capacity

·         Toilet paper sales in Germany, for example, were more than three times normal in (March 16-22), Mills reported full capacity utilization, extra conversion shifts were scheduled, and demand for additional parent roll orders risen exponentially

·         Because the COVID-19 epidemic hit North America a little later, the impacts on the tissue industry in February were mild. Everything changed in early March, though. Online vendors account for approximately 11% of U.S. tissue sales, have left tissue shelves vacant at retailers ranging from Walmart to smaller shops

·         In the South American region, Many MSMEs in developing nations, STCP Engenharia de Projetos Ltda, which make up the majority of forestry firms and are especially sensitive to economic downturns, were severely affected. Other forest-based items, such as packaging materials, wooden pallets, and tissue for toilet paper and mask manufacturing, remained constant or even risen in demand

CONCLUSION

Pandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players, and consumers can win the fight against COVID-19.

It continues to inflict the world with appalling economic and social dilemmas, capable enough to leave severe backlash on the economy for the next several years. The first wave had already inflicted severe blows to the population as well as the economy. The currently experiencing the second wave is expected to be more disastrous not only to the masses but also to fast moving consumer goods markets.

The recent outbreak of COVID-19 had a positive impact in global tissue paper market as there was an increased demand for tissue papers and toilet papers in the United States and several European countries. People staying at home because of business closings and shelter-in-place orders, the demand for consumer toilet paper was skyrocketed while the demand for commercial toilet paper was reduced.

Moreover, the rising demand for tissue papers and their supplementary products is expected to increase the market growth up to some extent over the forecast period.

[rajyog7493]

What COVID-19 Impacted on Predictive Maintenance in the ICT Industry ?

Impact of COVID-19 on Predictive Maintenance in the Information and Communication Technology Industry

The pandemic began with its epicenter in China in 2019 and has been continuously spreading by then to all over the globe. So far, 216 countries and territories have been affected by COVID-19. The COVID-19 cases reached various countries that have strong dominance in the worldwide market and have adversely affected economic growth globally. The spread of coronavirus has led to severe disruption such as global recession. Many organizations are being forced to take stringent actions for their employees and staffs, as small and medium businesses are being shut down, and manufacturing and production facilities are being put on hold for a longer period of time. However, the demand for food and beverages witnessed huge growth, but this has also, increased the shortage of supply chain owing to the panic among people.

Similarly, the demand for the pharmaceuticals, chemicals, and healthcare industry also increased as new solutions and medicines are introduced for preventive measures. There has been disruption in the supply chain of many industries due to restrictions in logistics and closing of manufacturing facilities. In addition, the slowdowns in the economy have lowered the spending capability of individuals, and people are saving money for emergencies.

The pandemic has disrupted the industrial networks and manufacturing, including supply disruptions and demand-side shocks. Quarantines and health risks impacted the suppliers and global transportation, which affected the manufacturing sector.

For instance,

For the year 2020, manufacturing, and production was affected in 938 of the Fortune 1000 companies in China due to the disruptions faced by the tier 1 and tier 2 suppliers. This has affected the abilities of many companies to ramp up production.

This created the need in the market to enhance manufacturing processes to make them robust and sustainable to the market anomalies. These factors increased the demand for analytics professionals, business intelligence professionals, and applications of technologies such as AI and ML for predictive maintenance to make the manufacturing system agile and increase the production capacity.

 Predictive maintenance refers to the data-driven, pro-active maintenance methods to analyze the condition of equipment and help predict when maintenance should be performed. The COVID-19 pandemic has had an impact on the technological sector as well. The disruptions in the production and supply in the hardware sector have significantly impacted the developments in the IT industry. The pandemic has resulted in health threats for humans in the manufacturing sector which incurs severe disruptions and complex issues to industrial networks. The initial part of the pandemic witnessed the slowdown in the businesses providing solutions and services. But the latter part saw increasing investments in analytics, collaborative applications, security solutions, and AI by many players in the market to sketch out a sustainable way of carrying on business activities amidst the pandemic threat.

PRICE IMPACT

The COVID-19 lockdown imposed by the government of the world had impacted the prices of predictive maintenance services. The increase in supply chain costs automatically increased the hardware cost around the world, in the beginning of the pandemic due to congested shipment routes and other factors. The lack of workforce and restriction on travel impacted the service sector and hence impacted the prices. The increased demand for the predictive maintenance in multiple sectors of the industry will impact the prices of the service.

IMPACT ON DEMAND AND SUPPLY CHAIN AND LONG-TERM STRATEGIES ADOPTED BY MANUFACTURERS

Digital transformation has been the area of focus for a long time now for businesses. The COVID-19 pandemic has led many manufacturers and organizations to intensively invest in technologies across multiple business lines to sustain themselves in the disruptive market. For instance, a 2020 Deloitte Industry 4.0 survey states that out of the 361 executives surveyed across 11 countries, 94% report digital transformation as their organization’s top strategic initiative. With the easing regulations and life coming back to normalcy, the manufacturing sector is witnessing growing demand to ramp up production around the globe. Businesses are looking to maximizing throughout and increasing efficiency. Industries are increasingly adopting analytics to make manufacturing more resilient. Preventive maintenance is one of the important processes helping businesses to optimize efficiency. To meet the growing demands and to make up for losses, the industries are looking to produce in 9 months what they earlier did in 12 months. This has made it important to reduce downtimes in manufacturing plants, and the adoption of predictive maintenance is believed to play an important role in the direction.

For instance, according to an ITIF research report, manufacturing productivity increases by 10-25% with IoT applications for monitoring machine utilization and maintenance. The increasing adoption of this technology will produce up to USD 1.8 Trillion global economic value by 2025.

Industrial automation had been the focus of many manufacturers around the globe. The incorporation of IoT and technologies such as AI, Big data, and ML has been at the forefront for business owners and organizations to transform their business digitally. Manufacturers are gaining a strategic edge in the market in uncertain pandemic times, and are increasingly adopting predictive maintenance technologies to reduce the company’s maintenance costs, reduce unplanned outages, and extend machinery life by years.

For instance, according to a 2020 survey by Deloitte, factory equipment maintenance costs can be reduced by 40% using IIoT based predictive maintenance technologies. This will help generate an economic value of USD 630 billion annually by 2025. 55% of the businesses surveyed have already implemented pilot predictive maintenance projects.  

The pandemic has forced employees to work from remote sites complying with social distancing norms. The manufacturers are intensively implementing IoT devices and digital transformation for providing the employees the ability to share and receive data and insights of the manufacturing floor in real-time to handle operations and monitor machine conditions. This has enabled agile decision-making, efficient operations, and avoiding unnecessary human presence on the site. The manufacturers are continuously developing new products, partnerships, collaborations for the predictive maintenance market.

The initial stages of the pandemic saw a disturbance in the global supply chain. Limited manufacturing capacity and congested transport routes disturbed the supply ecosystem and impacted the costs of the end products. The disturbance has also been due to the restrictions imposed on logistics by various governments which affect raw material supply. The trade war between the U.S. and China has put a strain on the supply chain of electronics in the market, which is an important raw material for the home automation product manufacturers.

For instance,

In 2020, according to a survey by IPC, a trade organization dedicated to advocacy, education, and support for the electronics industry, around 69% of survey respondents had received warnings from their suppliers about shipment delays. The average delay between February to March 2020 was about three weeks.

CONCLUSION

The COVID-19 has not only attacked the health of human lives but has adversely affected the economy globally. There is a recession worldwide, and various industries have been affected due to it. Many manufacturing industries are being temporarily closed, and workers are being advised to work from home. Organizations and enterprises had to make a difficult decision in regards to staff, which are often unavoidable if businesses need to reduce costs quickly. Machine maintenance became harder in the manufacturing sector due to lack of staff in the pandemic, travel restrictions, and the shift to working from home as a standard procedure, making it difficult to have routine inspections and on-site maintenance. This forced the organizations to move towards technologies such as predictive maintenance and develop a more resilient manufacturing unit. The focus was diverted majorly towards remote maintenance, manufacturing cost efficiency, and preventing unplanned downtime. This boosted the adoption of preventive maintenance practices in industries.

For instance, according to the UpKeep 2021 report, maintenance and reliability teams have remained financially stable during the COVID-19 period. Of all the maintenance teams surveyed, 66% say their budget is either staying the same or increasing in 2021.

[rajyog7493]

How COVID-19 Impacted on Hand Tools in the Semiconductors & Electronics Industry ?

Impact of COVID-19 on Hand Tools in the Semiconductors and Electronics Industry

COVID-19 made a major impact on the hand tools market as almost every country has opted for the shutdown for every production facility except the ones dealing in producing the essential goods. To prevent the spread of coronavirus disease, the government has taken some strict actions such as the shutdown of production and sale of non-essential goods, blocked international trade, and many more. The only business which is dealing in this pandemic situation is the essential services that are allowed to open and run the processes. The companies such as pharmaceuticals and chemicals, among others, are allowed to continue operation but with certain safety rules.

The future of the hand tools market looks promising, with opportunities in increasing commercial as well as residential construction and infrastructure projects. The global hand tools market is expected to decline in 2020 due to the global economic recession caused by COVID-19. However, the market will witness recovery in the year 2021. The major drivers for this market are the increasing commercial as well as residential construction and infrastructure products.

A hand tool is any tool that is not a power tool – that is, one powered by hand (manual labour) rather than by electricity or fuel. Some examples of hand tools are garden forks, secateurs, rakes, hammers, spanners, pliers, screwdrivers, chisels, and others. Hand tools are generally less dangerous than power tools. The global hand tools market size is estimated to be USD 8.4 billion in 2021 and is projected to reach USD 10.3 billion by 2026, growing at a CAGR of 4.0%. The growth of the market is attributed to the increasing commercial as well as residential construction and infrastructure projects, adoption of hand tools in households for residential/DIY purposes as well as growing manufacturing setups and increasing repair and maintenance operations across the world. However, factors such as an increase in safety risks and concerns due to improper use of hand tools are restraining the market growth. The shutdown of production facilities during the pandemic situation has had a significant impact on the market.

Emerging trends, which have a direct impact on the dynamics of the hand tools industry, include the introduction of more efficient power tools and the increase in hand tool automation to reduce physical work that might boost hand tool usage.

IMPACT ON SUPPLY CHAIN

Supply chains are complex systems where the risks and costs associated with mismanagement and communication failures in globally connected organizational networks are relatively high.

For instance,

·         In May 2019, Stanley Black & Decker announced the opening of a new plant for the production of its brand CRAFTSMAN in Fort Worth, Texas. The new facility has an area of 425,000-square-foot and is expected to employ approximately 500 full-time employees

Some of the most influential factors that affect the supply chain in regards to the hand tools manufacturing companies are companies seeking strategies to protect their position in the value chain, looking for new markets, finding new possibilities to leverage skills and offering more value to customers.

IMPACT ON PRICE

Although the COVID-19 pandemic continues to transform the growth and prices of various industry-related products, the price of the products with respect to the hand tools market maintain a steady line throughout the pandemic. This denotes that there are no major changes in the price of the hand tools due to the effect of the pandemic.

AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE MARKET

Government efforts to encourage the adoption of hand tools in household alternatives have developed at a rapid pace in recent years. Governments in the European Union, China, Japan, Canada, India, and South Korea are among the major geographies where governments are taking aggressive measures to increase the adoption of hand tools in residential/DIY purposes as well as growing manufacturing setups and increasing repair and maintenance operations.

For instance,

·         There have been some major policy developments in the European Union. Improvements in hand tool requirements and the digitalization of hand tool based industries, which focuses on government procurement of increased usage of hand tool based systems which form a greater initiative

·         Another guideline, the 'Performance Buildings Directive,' has been established, which establishes minimum requirements for hand tool infrastructure installation in buildings

Such favourable initiatives are anticipated to boost the adoption of hand tools in commercial and residential based projects and thus drive the adoption of the repair and maintenance operations market during the forecast period of 2021 to 2028.

STRATEGIC DECISIONS OF MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE

Revenue growth for the hand tools market has experienced a decline in 2020 due to constricted economic activity expected as a result of the COVID-19 outbreak. So, the hand tools manufacturing companies have adopted various strategies to overcome the decline in revenue. Some of the most common strategies adopted by industries are as follows,

·         The reduction of experimentation costs due to the speeding up of the testing phase

·         The reduction of the number of costly physical prototypes and redesign linked to their fast obsolescence

·         The improvement of design quality via the availability of information very early on in the development process

CONCLUSION

Pandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players, and consumers could win the fight against COVID-19. Also, COVID-19 has likely influenced the development of the hand tools market because of the closing down of processing plants, impediment in-store network, and decline in the world economy.

With COVID-19 affecting countries at different times and rates, access to global demand through open markets, the pandemic situation created by COVID-19 has a major impact on the hand tools market as it has lowered its demand owing to the shutdown of most of the manufacturers all across the globe. Along with industrial disruptions, the commercial, construction, and infrastructure projects across the world were either cancelled or put on hold owing to the lockdown impositions. On the other hand, as the homeowners spent most of their time at homes during the pandemic, there was a noticeable shift in focus towards home improvements, interiors and home decoration activities at the residential/DIY level, which in turn called for a slight demand for hand tools. Thus, the hand tools and woodworking tools market is getting affected by COVID-19. This has resulted in a lower estimated year-on-year growth rate as compared with 2019. On the other hand, improvisation of technologies has led to gain strong industrial growth. However, the growth has been high after the market has opened after COVID-19, and it is expected that there would be considerable growth in the sector owing to high technology and interfaces that are expected to drive the overall demand of the market.

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How Impacted COVID-19 on Grain-Oriented Electrical Steel ?

Impact of COVID-19 on Grain-Oriented Electrical Steel in Chemicals & Materials Industry

Grain oriented electrical steel is a category of electrical steel which comprises iron-silicon alloys that are developed to provide the low core loss and high permeability, which are required for efficient and economical electrical transformers in power generation application.

The prevailing grain oriented electrical steel demand conditions in the majority of developing nations demonstrates that the electrical steel consumption have deteriorated in the pandemic situation. Several large industries who are engaged in the manufacturing of grain oriented electrical steel product have faced several challenges towards the sale of the raw material for the finished goods due to shutdowns in the manufacturing of the several industries such as in automotive and electronic goods. This has led to the lower demand of the electrical steel in the global market

COVID-19 has adversely affected the demand of the global grain oriented electrical steel market, particularly, power and energy sector. Pandemic has also affected the import and export of the steel products across all the regions, which has resulted in the decline in the demand of the grain oriented electrical steel. The demand of the grain oriented electrical steel has declined approximately by 12%-14% in the COVID-19 period. The COVID-19 has unbiasedly affected all sectors due to which the mandate of the several products in the global as well as in the domestic market has fallen down.

AFTER MATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE GLOBAL GRAIN ORIENTED ELECTRICAL STEEL MARKET 

The demand of the home appliances have fallen during the COVID-19 by approximately by 45% due to which the demand of the electrical steel products in the electrical manufacturing industry has decreased. The large industry has resulted in less demand of the new machinery and components due to which demand of the electrical steel in manufacturing of motors and electrical ballasts have reduced during the pandemic situation. Post COVID, developing economies, such as China is expected to move more rapidly towards normalization of economic activity for the different sectors. This will increase the demand of the electrical steel products, and will increase the import for grain oriented electrical steel. With the stringent government regulation, particularly, in the field of infrastructure, the demand of the grain oriented electrical steel products such as hot-rolled sheets and cold rolled sheets would subsequently increase. Automobile manufacturers are heavily investing funds in the market. With the increase in the demand for the modern electric vehicles, the demand for the grain oriented electrical steel is set to rise in the global market.

IMPACT ON DEMAND

During the COVID-19, manufacturing of the heavy electrical equipment have tumbled down, which resulted in the declined demand for the grain oriented electricals steel. Several types of components are used in the transformers which have different flux density that help to lower the wastage of the energy during transmission. However, the demand of the different size of transformers has collapsed.  During the pandemic, several electrical equipment manufacturers have shut down the production for indefinite time period, which have adverse impact on the demand of grain oriented electrical steel market

PRICE IMPACT

Steel industry is also playing a crucial role in the electrical steel market since tons of steel and other metals are used in the manufacturing of the grain oriented electrical steel. The pandemic has also impacted the demand of the steel products in all the regions. In the U.S., steel mills have to adjust their production activities to avoid rising inventories and declining prices of the steel products which result in lower revenue generation. As demand of the steel is declining, integrated steelmaker in U.S. steel manufacture has decided to idle blast furnaces and cut production of steel. Japan steel production is expected to decline by 25.9% as per the Vietnam Steel Association (VSA), companies associated with the VSA registered a 15% decline in steel production and a 38% reduction in steel exports in Q1 2020. COVID-19 has adversely affected the steel prices as the demand of the steel has fallen down as lockdown in several industries.

IMPACT ON SUPPLY CHAIN

Power and energy industry is heavily relying on Supply Chain Management (SCM). Improvement in the supply chain has always been demanded by the manufacturers and the end users. The COVID-19, which led to the abrupt halt of the transportation sector, indirectly affected the supply chain for the grain oriented electrical steel market. Manufacturers had to bear the storage cost as well as had to face the consequences for the late conveyances. The delivery of raw goods was adjourned or annulled, which resulted in the rise of the cost to the end users. The Import-export of the final product was also severely wedged, hindering the completion of major projects, resulting in increased costs.

STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE

Pre-pandemic, manufactures had financial stability; however, COVID-19 had forced the manufactures into extreme slumps. The effects of the pandemic will largely affect the small and medium business. The grain oriented electrical steel is extensively used in the manufacturing of the electric motors and components which are brought to application in the electric appliances.

During the COVID-19, manufacturing of the heavy electrical equipment have tumbled down which result in the fall in the demand for the electricals steels in motors application. Several types of components are used in the transformers which have different flux density which help to lower the wastage of the energy during transmission but the demand of the different size of transformers have fallen down due to which demand of the grain oriented electrical steel from equipment manufacturers have fallen down. During the pandemic, several electrical equipment manufacturers have shut down the production for more than six months which has had a bad impact on the demand of electrical steel market.

CONCLUSION

The COVID-19 crisis has created the pandemic situation widely, which affected the growth of the overall steel industry. The demand in the energy and power, building and construction, automotive activities have withered down globally. The nationwide lockdown across the globe for all the manufacturing units, construction activities and others, resulted in lower demand of grain oriented electrical steel products, which eventually, lead to huge loss for manufactures. The manufacturer of grain oriented electrical steel components and equipment had to abruptly halt the production which had its impact on the supply-chain.

Flux in the demand of the electricity in different countries have lowered and has proportionally affected the demand of the grain oriented electrical steel products in the energy and power sector. The fluctuation in the price of steel has also impacted the manufacturing of the grain oriented electrical steel. Progressive demand of electricity and power in the man industry and launch electrical vehicles will increase the demand of grain oriented electrical steel in coming years.

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What Impacted COVID-19 on Data Center Accelerators ?

Impact of COVID-19 on Data Center Accelerators in the Information and Communication Technology Industry

ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET

The spread of COVID-19 has entirely changed people's life. COVID-19 which was originated in the city of Wuhan, China, in 2019 and had been continuously spreading all over the world since then. It has been spread to more than 180, and the U.S. tops the list, followed by India, Brazil, France, Turkey, among others. As of 10 August 2021, WHO reported 204.21 million positive cases worldwide, of which 4.31 million patient has lost their life to the virus. On a positive note, 183.39 million patients have recovered, and 4.46 billion doses have been administrated globally. The pandemic has put the lockdown, travel ban, and business shutdown in most of the countries, which has highly impacted the global economy. All the major industries are facing serious disruption such as a break in the supply chain, shut down of offices and manufacturing units, and many more due to the pandemic.

However, the demand for cloud-based services and the use of Artificial intelligence has increased tremendously.  The burgeoning application of A.I. in different sectors like automobile, consumer electronics, medical, education, and others have enhanced consumer perception and expectations from A.I. technologies. Also, for cloud server inference applications, numerous FPGAs are being developed to perform different tasks such as enhancing security and fast computing.

IMPACT ON DEMAND AND SUPPLY CHAIN

The manufacturing sector is enhancing its manufacturing processes by using A.I., IoT, and blockchain technologies. With the help of these technologies, companies are cutting costs, increase their process efficiency, and reduce human contact. A.I. is also used for predictive maintenance and will further be implemented to forecast demand and returns in the supply chain. Also, educational firms have deployed A.I. tools to enhance online learning and virtual classroom experience for students. As the use of data centers is increasing, its demand in the market is also growing. To cater to this rising demand, the companies are coming forward with new modern data center solutions in the market.

For instance,

·         In Sept 2020, Marvell announced that the company's custom application-specific integrated circuits (ASICs) offering would enable the next generation of artificial intelligence (A.I.) accelerator solutions for the data center and automotive markets. The ASICs provide turnkey design and verification, as well as custom mesh; interconnect network-on-chip communication. Also, it provides features such as adaptive voltage supplies for power reduction along with custom hierarchical test methodology, logic redundancy, and a custom memory BIST solution for enhanced reliability

·         In Feb 2021, Xilinx, Inc. released a new range of data center products and solutions, including a new family of Alveo SmartNICs. The company has also introduced smart world A.I. video analytics solutions that provide deterministic low latency performance for the most demanding A.I. video applications. Thus this new accelerated algorithmic trading framework will help software developers to create trading solutions that break the microsecond latency barrier

IMPACT ON PRICE

COVID-19 pandemic has pushed all businesses to make immediate transitions into digital functioning. For this transformation, the firms have to adopt cloud technology. Thus due to the rise in the demand for the same, there has been a major impact on the price of the technology.

For instance,

·         Research done by ANALYTICS INDIA MAGAZINE PVT LTD shows that, on average, the price of 1 T.B. of on-premises storage with exceptional performance could cost over USD 3,000 for a year, and hybrid cloud cost more than this.  Also, AWS, Google Cloud, Azure are considered to be the major competitors in the space of cloud platforms. The cost of their platform differs based on customized and discounting models that combine to create a highly personalized cloud deployment.

STRATEGIC DECISION BY MANUFACTURERS AND GOVERNMENT INITIATIVES AFTER COVID-19

Post-COVID manufacturers are taking many strategic decisions to get back their original business place in the market. The companies are conducting many research and development activities to improve the technology involved in the data center accelerators. Thus the companies are bringing more advanced technology in the market to increase their market share and being recognized by the clients. Also, companies are acquiring other I.T. companies to expand their business in the market.

For instances,

·         In March 2021, Advanced Micro Devices Inc. released a new data center chip to grab more market share from its rival company Intel Corp. The company's "Milan" data center processor is faster than Intel's current best data center chips. The chip and its predecessor have both outperformed Intel's chips, helping AMD gain more market share and land customers such as Alphabet Inc's Google. Thus by bringing advanced technology, the company is increasing its market share

·         To expand the portfolio of data and hybrid cloud consulting services, IBM announced in July 2021 that it had acquired Bluetab Solutions Group, S.L., an I.T. service providing company. Bluetab will help the company to further advance its hybrid cloud and A.I. strategy. Also, Bluetab has expertise in data and cloud migration services which includes specialized data strategy, data fabric, and advanced analytics, which will further help in the company's growth

The advancement in technology and its use in the government sector have also made the government take the initiative to boost the growth of the market.

For instance,

·         Chinese government has issued a Three Year Plan for new data centers, demanding that the new facilities should become more efficient, should have a PUE of 1.3, and have a utilization of 60 percent by the end of 2023. This Plan for the Development of New Data Centers will also limit the growth of data centers to 20 percent and sets out a national architecture supporting national cloud hubs, provincial data centers, and edge data centers. The Plan is designed to support digital transformation in the country

CONCLUSION

Post-COVID inception, the demand for cloud services and advanced technology has tremendously increased, leading to the growth of the market. The use of A.I., IoT, and other technology in different sectors like medical, education, automobile, and others has further raised its demand in the market. Also, the use of this technology can help the manufacturing firms to work more efficiently and accurately has raised the demand for A.I. technology in the market. The technology also helps in predictive maintenance and helps to forecast demand and return in the supply chain. Also, due to the shift to work from the home scheme and to secure a remote workforce, the demand for cloud-based services has increased. Thus due to the rise in demand, the sending of the firms on cloud platforms has also increased in the market.