April 14, 2021

How people are turning crises into opportunities during Coronavirus Epidemic?

Some ventures are using Coronavirus Pandemic as huge business opportunities.

How-people-are-turning-crises-into-opportunities-during-Coronavirus-Epidemic How-people-are-turning-crises-into-opportunities-during-Coronavirus-Epidemic

Huge business opportunities for new ventures to respond to the new Coronavirus epidemic.

Facing the devastating impact of the new Coronavirus epidemic, companies across almost all industries are facing the difficulty of adapting to otherwise be eliminated.

However, in the face of imminent threats, there are still encouraging signs of innovation.

Here, we will discuss the companies that are in a leading position in the post-epidemic economic transition period.

How Coronavirus (COVID-19) affects the Global Economy?

The prospects of the health industry?

The pharmaceutical industry is clearly a starting point.

After Pfizer and BioNTech announced that they had submitted vaccines to the US Federal Drug Administration, they rose 1.4% and 9.6% respectively throughout the day on November 20.

Although the US multinational company still dropped 7% from the latest buying point and 3% year-to-date, the representatives of Pfizer expressed confidence that a turning point had occurred.

This is thanks to the company’s announcement that it will obtain FDA and other national regulatory approvals before the end of the year, and will launch 50 million doses of vaccine.

As for BionNTech, this German-based company has achieved an unprecedented 180% growth so far in 2020.

Elsewhere, the demand for real-time information has stimulated the emergence of innovative technologies.

Digital healthcare company OpitmizeRx specializes in providing solutions for life science companies, doctors, and patients.

Its unaudited revenue in the third quarter was US$10 million, an increase of 100% over the same period last year.

The company provides real-time alerts in the cloud to the Global Disease Control Agency, demonstrating that it can catch up with the COVID-19 wave.

There is also a similar success story about the biotechnology company Moderna, which uses Amazon cloud computing services to cooperate with health agencies to develop vaccines together.

Disruptive innovations have also appeared in the telemedicine field, as it encourages patients to seek virtual care.

Even before the new coronavirus hits the coast of the United States, the number of appointments for the American company PlushCare increased by 40% compared to the usual 10% increase in the annual flu season.

How is Global Economy recovering from Coronavirus?

Good insurance has insurance

Knowing that the requirement to maintain social distancing will increase the demand for online solutions, Insurtech pioneers have also reaped the rewards.

A recent Forbes report highlighted that companies that provide user-friendly applications that use data-driven underwriting have seen online sales growth of 30-50%.

According to statistics from previous epidemics (such as the Spanish flu), in 1919, the demand for life insurance soared by nearly 80%, and medical service providers are looking forward to more opportunities.

Companies that use advanced technologies such as data analysis and API-supported platforms to expand their businesses may flourish.

Learn to fight for opportunities

As classroom learning in countries around the world has been disrupted by the epidemic, educational institutions have of course had to think twice.

By integrating the learning management system (LMS), moving towards distance learning has brought new possibilities for the cooperation between education and technology.

However, in the United States, the huge difference in Internet access means that low-income families are more likely to suffer in the current environment.

Of course, these problems are structural and need to be resolved through measures such as intensifying ISP market competition.

Devastating impact

As these examples show, no matter in which industry, companies that continue to predict changing consumer needs and are ready to challenge the limits will not become victims of COVID-19.

Destructive thinking and the ability to find gaps in the market can help turn crises into opportunities.

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