LSI Forecasts New Surgical Procedure Volumes Forecasting COVID-19 Impact
Apr 17, 2020
LSI Releases New Surgical Procedure Volumes Forecasts Factoring COVID-19 Impact on US, France, Germany, Italy, UK and Spain
New reports and surveillance tools from LSI are forecasting the impact of the Coronavirus pandemic on surgical procedures across elective and non-elective categories.
HUNTINGTON BEACH, Calif.--(BUSINESS WIRE)--Leading medtech market research firm Life Science Intelligence (LSI) has been tracking surgical procedure volumes across 37 countries for the last decade. The firm is seeing massive shifts in volumes occurring as a result of the Coronavirus pandemic. As a result, the company has released new forecasts for the US and Big-5 Europe in its new COVID-19 Impact Tracker Platform. The company reports that data from China, Japan, South Korea and several other key countries will also be released in the forthcoming weeks.
From 2019 to 2020, surgical procedure volume in the US alone are projected to decline by 12%, followed by a substantial increase of almost 28% in 2021. This trend is seen around the world but varies by country and medical segment dramatically.
According to LSI CEO Scott Pantel, “This new tool was launched to support medical device & diagnostic executives as they navigate these challenging times. Our customers are trying to quantify the current impact to their markets so they can protect resources, and they are also preparing for the inevitable rebound so they can capitalize when the market turns. We’re here to give them independent, logical and thoroughly researched data so they can support their most critical decisions.”
According LSI’s most recent report for the US, “Surgical procedure volumes in the U.S. are experiencing a significant decline as a result of the COVID-19 pandemic, due to postponement or cancellation of elective procedures and, to a lesser degree, elimination of procedures that would have been performed on patients who die as a result of contracting COVID-19 disease. From 2019 to 2020, procedure volume is projected to decline substantially, followed by a major increase in 2021. The increase in 2021 is expected to result from the backlog of procedures postponed in 2020 which will add to the normal number of procedures estimated for 2021 in the absence of the COVID-19 pandemic. Not all of the procedures postponed in 2020 are expected to be recovered in 2021, since some patients who resort to alternative treatments (e.g., medical therapy, physical therapy) may decide to continue with those treatments and forgo surgery, although this trend will not occur for all types of procedures. In addition, it may be difficult for surgical services to accommodate such a large increase in volume, although the increase in comparison to 2021 procedure volume which is forecast to occur in absence of backlog procedures is only about 10%.”
These and other findings are detailed in the new reports from LSI. Procedures covered in the new series of reports include:
Aesthetic, Dermatological, Plastic Procedures
Curettage, Electrocautery, and Electrocoagulation Lesion Destruction
Cryotherapy-Based Lesion Destruction
Lesion Removal Procedures: Traditional and Other
Breast Reduction (Women)
Lip Augmentation (other than injectable materials)
Lower Body Lift
Upper Arm Lift
Surgeries for Patients with Complete Cleft Lip and Palate
LSI is a medical technology focused market intelligence & consulting company. We help medtech executives make informed strategic decisions by better understanding market dynamics, trends, opportunities and the competitive landscape