LONDON–(BUSINESS WIRE)–#CompetitiveIntelligence–Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest article on the impact of coronavirus outbreak on different sectors of the economy. The article covers detailed insights into the setback brought by coronavirus outbreak across industries such as automotive, logistics, pharmaceuticals, retail, and food and beverage.
“As the effects of the Covid-19 pandemic continues to reverberate, various sectors of the economy are confronting a different kind of menace,” says a market research analyst at Infiniti Research.
The novel coronavirus impact on various sectors of the economy has been dramatic. While pharma companies are striving hard to develop drugs for coronavirus and initial treatments are showing positive signs of success, the human impact of the coronavirus outbreak is immense and the has the potential to trigger an economic crisis. Investing into market research and R&D services are the way forward for businesses across various industries to effectively combat coronavirus challenges.
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Ripple Effect of Coronavirus Outbreak on Different Sectors of the Economy
With the coronavirus outbreak, the global automotive sector has taken a dip. Temporary closures of plants due to collapsing demand and supply shortages are some of the major factors hampering the automotive industry growth. Also, the extension of the lockdown period across some provinces of China is expected to impact the automotive sales over the coming weeks. Consequently, automakers will need to take a gradual approach to increase production without compromising the safety of employees.
Although logistics is a huge sector contributing to over 20% of the global GDP, the industry is heavily impacted by covid-19. The government initiatives such as lockdown of manufacturing units and social distancing are threatening to disrupt the global supply chain operations. As such, keeping pace with market risks and implementing digital initiatives are the way forward for logistics companies to gain a competitive advantage in the long-run.
A recent market survey reveals that pharma companies in the Asia-Pacific market are expressing the highest level of concern about the impact of the coronavirus outbreak on their company’s performance. As the coronavirus is spreading worldwide, the pharma companies depending on China for APIs are facing deficiency of raw materials for production and also encountering new drug development challenges.
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About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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Original Release: Business Wire