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COVID-19 Impact on Siemens Healthineers Revenue and Operations (Medical Devices)

COVID-19 Impact on Siemens Healthineers Revenue and Operations (Medical Devices)

Summary

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.

Key Highlights

- Siemens Healthineers indicated a year over year (YoY) revenue decline of 0.4% ending on September 30th 2020 due to COVID-19.
- The company reported YoY revenue decline of 5.1% in Diagnostics mainly due to reduced testing for routine care, 1.4% increase for Advanced Therapies and 1.7% increase for Imaging. Siemens Healthineers expects comparable revenue growth ranging from 5 to 8% to fiscal year 2020, driven by sales of new and existing products, platforms and services across its three business units.
- Siemens Healthineers announced their Fast Track Diagnostics (FTD) CoV-2/Flu/HRSV Test kit to be marketed in fiscal 2021 . The kits will be used to detect SARS-CoV-2, HRSV A&B, and to differentiate Influenza A and B.

Scope

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.
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COVID-19 Impact on Siemens Healthineers Revenue and Operations (Medical Devices)
Published By :GlobalData
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