Siemens Healthineers AG (Siemens Healthineers) is a medical technology company which designs, develops, manufactures and markets devices for imaging in therapy, screening, and intervention. The company is headquartered in Germany with global manufacturing and sales reach. Siemens Healthineers’ product range includes solutions for the treatment of heart failure, heart disorders, renal and neurological diseases, spine and musculoskeletal disorders, and diseases of the ear, nose and throat. It also provides biologic solutions for orthopedic and dental markets. The report, COVID-19 Impact on Siemens Healthineers Revenue and Operations (Medical Devices) presents a deep dive analysis into how Siemens Healthineers is placed to respond to the COVID-19 crisis, by examining its sector performance and competitiveness.
Deep dive analysis into how Siemens Healthineers is placed to respond to the COVID-19 crisis, by examining its sector performance and competitiveness.
- Siemens Healthineers indicated growth in its second fiscal quarter ending March 31st 2020 of 3.3%, compared to the same period in 2019.
- The company estimates that the COVID-19 crisis reduced growth by about 4 percentage points.
- Siemens Healthineers expects a decline in sales during its fiscal third quarter, due to the COVID-19 crisis. The company is unsure when it might recover but is expecting a surge in demand for its products either in its fiscal fourth quarter 2020 or fiscal first quarter 2021. Equipment is expected to elicit the most pent-up demand, followed by reagents and instruments, while the company’s services will not be as dramatically impacted.
- Siemens Healthineers announced the availability of its molecular Fast Track Diagnostics (FTD) SARS-CoV-2 Assay test kit used to aid in the diagnosis of COVID-19. Test kits are already being shipped within the European Union for research use only (RUO) to expedite availability and the company is pursuing Emergency Use Assessment and Listing (EUAL) from the World Health Organization (WHO) for clinical use.
- In addition, Siemens Healthineers has begun discussions with the FDA for release of the SARS-CoV-2 Assay test under Emergency Use Authorization (EUA). The test is designed to help researchers positively identify COVID-19 in less than three hours.
The report provides a comprehensive analysis of the impact of COVID-19 on Siemens Healthineers -
- It provides insights on Siemens Healthineers’s exposure to the regions and businesses impacted by the COVID-19 outbreak.
- It offers an overview of the company’s revenue impact by region and market for 2020 due to the COVID-19 outbreak.
Reasons To Buy
- An overview of how Siemens Healthineers will be affected by the COVID-19 pandemic.