The measures taken to control the spread of the COVID-19 pandemic has impacted industries in regions across the world differently. While Asia was initially affected, the impact soon spread to Europe, North America and other regions and continues despite widespread measures.
GlobalData has conducted a survey to assess how companies involved in pharmaceutical trade and supply chain located in North America, Europe, Asia Pacific (APAC) and the rest of the world (RoW) predict their revenue to be affected by the COVID-19 pandemic.
Analysis of the survey responses shows that companies located in the APAC region foresee the highest impact on their revenues. Optimism has improved in Q3 compared to Q1 across all regions, the highest being in the rest of the world, which constitutes regions other than Asia Pacific, North America and Europe.
A majority 71% of the companies in the APAC region in Q1 opined that the pandemic would have a negative impact on revenues, which declined to 61% in Q3. Further, while 0% predicted a positive impact in Q1, the optimism improved to 6% in Q3.
Impact of COVID-19 on company revenue by geography
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A negative impact on revenue was predicted by 62% for companies located in RoW in Q1, with just 8% predicting a positive impact. The negative impact prediction declined to 40% in Q3, while the positive impact prediction jumped significantly to 60%.
Companies in the North American region were the next to be predicted to have a negative impact of the pandemic by 47% in Q1, while 3% predicted a positive impact. The percentage of respondents that predicted negative impact declined to 41% in Q3, while those predicting a positive impact increased to 24%.
While 45% of the respondents predicted companies in Europe to witness a negative impact in Q1, 12% predicted a positive impact. The prediction of negative impact declined to 39% in Q3, while respondents predicting positive impact more than doubled to 26%.
The analysis is based on responses received from the Pharmaceutical Trade and Supply Chain Survey between 07 July and 30 July 2020.