The world first heard of Covid 19 in 2019. However, by the third month of 2020, World Health Organization has declared it an epidemic following over 3 million infections around 210,000 deaths in about 213 countries. Consequently, the pandemic greatly impacted the global economy.
That is due to deaths, business closures, and trade disruption. Due to the emotional burden on the people, there has been reduced productivity and decimation of tourism. Here are a few ways the economy has been affected by covid.
– The revenue of small businesses has gone down 20%
– The revenue decline has led to firms becoming insolvent and increased chapter 11 bankruptcies compared to 2019.
– Many businesses faced foreclosure. Some shut down during the early months of the pandemic and only recently began to get back up.
– The labor sector suffered significant hits. That led to layoffs and reduced working hours.
– Similarly, the percentage of the employed but not working and the unemployed rose to 19.6 million from 7.9 million.
-Low-income families experienced income shock due to job loss or labor income loss. Such families also struggled to cover all expenses, including paying rent.
Covid 19 also brought along the awe of food security. Without income, and reduced productivity, many households, especially those with children, do not have sufficient food to maintain the health of all their members.
Covid 19 is not a single problem.
The recent pandemic has affected the health of the people. Still, it has also affected the economy, airline industry, sports industry, education sector, social sector, the mental health of individuals, workplace harmony, food, and restaurant industry.
How covid 19 affects medical corporations
– According to WHO, the pandemic has entirely or partially disrupted research on other diseases such as hypertension treatment, cancer treatment, cardiovascular treatments and emergencies, and diabetes and other related complications.
– Secondly, rehabilitation services have also been disrupted, with all focus currently being placed on covid 19.
– Thirdly, medical corporations have also been forced to reassign their staff to support Covid 19 fully. That led to a shortage of health workers.
Many corporations employ telemedicine instead of in-person consultations to help other high-risk patients receive treatment.
Psychology problems
First, with all the healthcare attention focused on covid 19, mental health services have been significantly reduced. Many people have lost their loved ones, faced isolation, loss of income, and some fear for what might become of tomorrow. All these challenges have triggered mental conditions or awoke excising ones. A fair population has resorted to alcohol and drugs to cope with insomnia and anxiety.
On the other hand, Covid has brought about neurological and mental conditions such as agitation, delirium, and stroke. The pressure is extreme on individuals with pre-existing conditions. Scientifically, if Covid 19 gets into an individual’s body with a pre-existing situation, it is likely that the virus will affect them more and possibly lead to death. These individuals battle fear and anxiety daily, which gnaws on their mental health. People with existing substance abuse disorders and mental and neurological illnesses are vulnerable to SARS-CoV-2 infection, leading to death.
Finally, Covid 19 has brought about a more digital way of life, which has caused stress in many households. For example, studies and meetings are now being held virtually. The era was coming anyway, but not abruptly. People in developing countries have found this a challenge due to their lack of knowledge of smartphones and internet usage. A good number of them cannot afford a Smartphone and steady network.
How covid 19 has boosted medical technologies
Research done by Diabetes Care to determine the effects of glucagon-like peptide receptors on Severe Acute Respiratory Syndrome Coronavirus showed that the hormone resulted in decreased emergency room visits, hospitalization, and total mortality.
TSH
Another research conducted by J Clin Endocrinol Metab in 2021 on the relationship between Thyroid Function and Covid 19 revealed that; compared to patients without Covid 19, those with Covid 19 had fewer TSH admissions compared to baseline. However, hypothyroidism or thyroid hormone replacement does not affect mechanical ventilation, hospitalization rates, or mortality.
HGH
An article on Covid 19 and Pituitary Endocrinology shows results of the study of the role of GH in the pattern of Covid 19. GH secretion scientifically reduces as the body ages, which explains why the elderly are at significant risk with Covid 19. The research observed that GH deficiency is common in all vulnerable patients. Before seeking for details about how much does it cost, note that only people with proven Growth Hormone Deficiency may receive HGH therapy. In recent years, injections have become more affordable and more targeted. However, before use, seek guidance from a medical practitioner.
Computer diagnostics
Machine learning has been advanced such that computers can now diagnose various common diseases. That was successful through a feeding program where the computer receives information-handling capabilities, making it a reliable memory extension of the physician. The primary role of the computer is to do data analysis, medical imaging laboratory, as a medical information system, and as a decision-making assistant.
Healthcare gadgets
Covid 19 has priority medical devices, including:
- Pulse oximeter
- Thermometers
- Oxygen therapy
- Ultrasound
- CT scan
- Patient monitor
Personal Covid kit
- Mask
- Hand sanitizers
The need for these gadgets has also led to increased medicament production. To serve billions of people, mask and hand sanitizer companies have produced ten times more products than the previous years. Oxygen tanks have also been in great demand, so have thermometers and pulse oximeters.
Covid vaccines have also been produced in bulk, and other medicines such as ascorbic acid and zinc sulfate help prevent Covid.
Is omicron a rescuer for economics or economic collapse?
Omicron came around November, and everyone feared another episode of the world’s pandemic. Omicron has, however, come into focus and is not as feared. That has created a positive and a surge of determination in people. Omicron has so far not forced the government to declare states of emergency and lockdowns. That means that people can be in public places, run their businesses, and travel in and out of their country. Therefore, unlike 2020 and part of 2021, the business will pick up, and favorable interest rates are realized in the tourism and hotel industries.
Conclusion
Covid 19 has taken all the attention from other viruses. People have almost forgotten about issues such as HIV and need to be reminded. These diseases are equally deadly, and there is a need to protect oneself from them.
