Barclays | U.S. Medical Supplies & Devices
13 April 2020 19
Standard Treatments Being Used COVID-19
Supportive care is recommended, preferably with acetaminophen. There are no FDA-approved drugs to treat COVID-19.
If pneumonia is present, antibiotics are recommended since it is a bacterial infection. Systemic corticosteroids for the
treatment of viral pneumonia or acute respiratory distress syndrome (ARDS) are not recommended.
Based on studies of COVID-19 patients in China, up to 76% of patients require oxygen therapy.
Some patients require
intensive care, that is respiratory support vis-a-vis a ventilator.
FIGURE 18
COVID-19 MedTech Summary
PUBLIC Company / Bloomberg Tickers
Personal Protective
Equipment
3M (MMM US), Honeywell (HON US), Owens & Minor (OMI US), Cardinal
Health (CAH US), Owens & Minor (OMI US), Cardinal Health (CAH US), Ansell
(ANN AU*)
April 9, FDA granted EUA to Steris (STE
US) for sterilization equipment to support
decontamination of N95 respirators.
Hillrom (HRC US), Stryker (SYK US), Arjo (ARJO SS*), Invacare (IVC US*)
Hillrom is a leader in ICU beds
Pulse Oximetry: Masimo (MASI US*), Medtronic (MDT US)
Products also in elective procedures; net
impact unclear
Edwards Lifesciences (EW US), Getinge (GETIB SS*), ICU Medical (ICUI US*),
LiDco Group (LID LN*)
Edwards has the largest share of
hemodynamic monitoring.
Diagnostics of ARDS
(CT, x-rays,
ultrasounds)
Koninklijke Philips (PHIA NA), Siemens Healthineers (SHL GR), General Electric
(GE US)
Products used to diagnose lung failure
and acute respiratory distress syndrome.
Ventilators (full-
featured in-hospital)
Medtronic (MDT US), Koninklijke Philips (PHIA NA), General Electric (GE US),
Getinge (GETIB SS*), Draegerwerk AG (DRW1 GR*), Philips (PHG.AS)
Full featured ventilators are
recommended
Koninklijke Philips (PHIA NA), Resmed (RMD US*), Fisher & Paykel (FPH NZ*),
Hillrom (HRC US)
Philips sells a non-invasive ventilator that
is targeted for the hospital.
Portable/transport
ventilators
Smiths Group (SMIN LN), Zoll / Asahi Kasei (3407 JT*)
Many of the ventilator companies also
make portable/transport ventilators.
Mass casualty,
pandemic ventilators
Allied Healthcare Products (APHI US*)
These are minimally equipped ventilators
Other respiratory
devices
ResMed (RMD US*), Fisher & Paykel (FPH NZ*), Inogen (INGN US*), Invacare
(IVC US), VapoThermo (VAPO US*)
BiPAP devices can be used for ventilation
Oxygen therapy may help those with
difficulties breathing with COVID-19
Draegerwerk AG (DRW1 GR*), General Electric (GE US), Shenzhen Mindray
(300760 CH*), Getinge (GETIB SS*),
These can be used for ventilation feature
Disposable Respiratory
Products
Ventilator companies typically sell the related disposables. Others include:
Teleflex (TFX US), Ambu (AMBUB DC*), Smiths (SMIN LN), Avanos (AVNS US)
ECLS/ECMO,
circulatory support
Medtronic (MDT US), Getinge (GETIB SS*), Livanova (LIVN US*), Abiomed
(ABMD US*)
Renal replacement
therapies
Baxter (BAX US), Fresenius (FRE GR), Nikkiso (6376 JT*)
Some patients develop acute kidney
injury
Infusion Solutions and
related infusion sets
Baxter (BAX US), ICU Medical (ICUI US*), Becton Dickinson (BDX), Fresenius
Medical (FME GR)
Products also in elective procedures; net
impact unclear
Pain relievers
(acetaminophen)
*Denotes not under coverage by Barclays Research. Information about this company is being provided for information purposes only and is not an investment
recommendation by Barclays Research.
Source: Company websites, Barclays
Chen N, Zhou M, Dong X, et al. Epidemiological and clinical characteristics of 99 cases of 2019 novel coronavirus
pneumonia in Wuhan, China: a descriptive study. The Lancet. 2020;395(10223):507-513. doi:10.1016/S0140-
6736(20)30211-7