The upheaval caused by COVID-19 has impacted industries globally, with the health industry arguably the most affected. In 2020, the World Health Organization (WHO) conducted a pulse survey of 105 countries, with 90% of respondents reporting disruptions to essential health services since COVID-19.
However, testing conducted due to COVID-19 has resulted in some positive outcomes, such as increased data around the indicators of public health. One finding from that data is that people living with non-communicable diseases (NCDs) have a higher risk of developing complications if they contract COVID-19. With over 70% of deaths worldwide caused by NCDs, there is acknowledgement from global leaders that there is an urgent requirement for healthcare reform and a need to focus on preventative health care.
Despite the difficulties and loss caused by the pandemic, many would agree that it has been a privilege to witness the resilience and creativity we as humans possess. While many businesses and organisations were not equipped to operate in a predominantly online world, they have been able to change their operations and offerings to respond to this challenge. A global survey by McKinsey & Company found that COVID-19 has accelerated the adoption of technology by several years, while telehealth services have exploded and its market size expected to triple in less than 10 years.
Another silver lining that has come from the increased awareness of our mortality is the spotlight on health and wellbeing. The wellness industry, which encompasses complementary medicine (CM), is having a growth moment – with the market value of complementary medicine estimated to grow to $4.4 billion by 2021-22 in Australia. 2020 saw people become reliant on online offerings that are accessible and can support them through any crisis. As consumers become digital natives, complementary therapists have increased reach, influence and opportunities. Barriers to participation in activities or therapies due to location, time or cost constraints are now removed, and practitioners have the prospect of shifting their platform from the local neighbourhood to an international stage.
DOWNLOAD THE WHITEPAPER ‘COVID-19 and the Future of Healthcare’ here for more insight into global wellness trends and the way health industries have adapted to the COVID-19 pandemic.
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