In September 2019 the Global Preparedness Monitoring Board commissioned by the World Health Organization (WHO) and The World Bank published a report calling for better preparedness by the world for managing the fallout of a high impact respiratory pathogen akin to the 1918 Spanish Flu virus which could cost the global economy $3 trillion.
It is ironical that within six months of this report, the unprecedented coronavirus health crisis is predicted to make a $9 trillion impact on the global economy. The world has experienced a series of pandemics, SARSin 2003, H5N1 in 2006, H1N1 in 2009, Ebola in 2013, MERS in 2015 but none turned from a healthcare crisis to a massive global financial crisis. COVID-19 has sent a chilling reminder that we live in an inter-connected world of public healthcare where a global pandemic can drag the world to a recession. This global health crisis is having the same impact on the citizens of the world as the World War II
The International Monetary Fund (IMF) predicts that the aftermath of COVID-19 will contract the global GDP by 3% with GDP/ Capita shrinking across 170 nations. The IMF has also predicted that the impact of the corona virus will leave India with a 1.9% GDP growth and a longer lockdown can also take India into a potential recession. Around 8 million people who work in the informal workforce of the country will struggle for their basic necessities. The amount of Government spending required to combat the impact of COVID-19 on the country is pegged at $79bn - $130bn or 3%- 5% of GDP.
Bu hikaye Healthcare Radius dergisinin May 2020 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Healthcare Radius dergisinin May 2020 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
KIMSHEALTH launches electrophysiology lab with 3D mapping
'ENSITE X' is the first of its kind in Kerala and the third in India enabling precise identification, mapping, and targeting the abnormal electrical activities in the heart.
Molbio boosts Goa's healthcare system with CSR initiatives
The company has donated four state-of-the-art Advanced Life Support (ALS) ambulances and two hearse vans for National Highway emergencies
USV introduces affordable heart failure medication
This cost-effective option addresses the rising cases of heart failure in India, offering lifesaving care to millions of patients who need it the most.
City Imaging & Clinical Labs to expand services to 50 hospitals
The company is currently associated with 10 hospitals, providing comprehensive lab management services, including 24/7 in-house phlebotomy and lab testing.
Oncare raises $1 million in seed funding, to set up 10 units
Oncare has raised $1 million in a seed funding round led by Huddle Ventures. It plans to deploy the raised capital to expand its operations to 10 new centers.
Nutrabay forays into Ayurvedic supplements market with Shilajit
Nutrabay's aims at gaining market share from the existing ayurveda supplements market with a distinctive product proposition and education about the benefits of Shilajit.
INDIA'S PREPAREDNESS ON HEALTHCARE-ASSOCIATED INFECTIONS: A GROWING FOCUS ON PATIENT SAFETY
The country's diverse healthcare landscape necessitates a flexible and multifaceted approach to infection control that can be adapted to various settings and resource levels.
TRANSFORMING CARDIAC SURGERY: HOW AI IS REVOLUTIONIZING PATIENT CARE AND OUTCOMES
Dr. Swarup Swaraj Pal shared his insights on the current state and future prospects of AI in cardiac procedures.
BEYOND THE LAB: THE CRITICAL ROLE OF LOGISTICS IN INDIA'S PHARMACEUTICAL INDUSTRY
As India continues to expand its role in the global pharmaceutical market, the importance of a robust, reliable, and innovative logistics infrastructure cannot be overstated.
LIFESTYLE DISEASES IN CHILDREN: A WAKE-UP CALL FOR A HEALTHIER GENERATION
In today's fast-paced world, children face an unexpected enemy: lifestyle diseases. Conditions like obesity, Type 2 diabetes, and hypertension are now affecting our youth. What's causing this shift, and how can we combat it?
