Healthcare brands could lose 10% of value due to COVID-19
The world’s top healthcare brands could lose 10% of their value due to the impact of COVID-19, while the pre-COVID figures also make for interesting reading according to a new report.
The healthcare sector has been ‘moderately’ affected by the coronavirus according to chartered accountancy firm Brand Finance, which publishes the annual report. But that still means the world’s 25 biggest healthcare brands could lose up to 10% of their value, equating to $16bn, according to the chartered accountancy firm’s annual Brand Finance Healthcare 25 2020 report.
It says the most valuable, UnitedHealth Group, lost 7.4% of brand value in the year to January 2020, while HCA Healthcare grew its own value 40%.
Pre-COVID figures are a much more varied picture. Germany’s Fresenius, the only non-American player to make the top 10 list, lost 11% of its brand value from 2019/20 while global insurers Aetna and Cigna, lost 22% and 6% respectively. HCA Healthcare, which has around €1bn sales in the UK, is the now also the world’s fastest-growing healthcare brand, adding 40% to its value.
The report reveals other big loses and gains in healthcare with DaVita losing nearly 14% and Quest Diagnostics nearly 9%.
The US dominates the total brand value market, accounting for 94% of the top 25 brands at a total value of $161bn. Brand Finance defines the brand value as ‘the value of the trademark and associated marketing IP within the branded business’. To read more about the methodology behind the estimations, read the report here.
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