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5 Industries that Have Thrived During Covid
At the beginning of March 2020, the world was faced with a rather unforeseen circumstance. One year later, while we still combat this deadly virus, it’s certain that all of us have been affected by the novel coronavirus in one way or another.
Every one of us spent a majority of our time outside of our houses, until Covid-19 brought about the realization that most of these tasks can be performed from the comfort of our homes as well.
Through this process, we have seen all types of industries adapting to the situation, trying to find a way to function while being safe. Most of the activities that would typically take place outside of our houses, like working at offices, athletic and fitness regimens, start-up companies, and much more, have now been adjusted to working from home.
Being confined in our homes has benefitted some industries, while it didn’t help with the growth of other businesses, like theatres, restaurants, night clubs, education centers, etc.
A majority of the industries have crashed significantly, other businesses struggling to get by, while some others have thrived during the pandemic.
These industries can be classified as essential with regards to the virus. They are crucial for various reasons that support different aspects of an individual's life.
Let’s take a closer look at what these industries are and how they thrived during the COVID-19 pandemic.
Website design is a creative field that most people enjoy! Designing a website involves thinking about functionality for its users, meeting the branding requirements of the company, and including company aesthetics and style in the design, which is all very exciting.
The youth of today come up with new business ideas and creative outlooks every single day and are looking forward to executing them. Web design has gained traction over the past few years with an increase in the number of new entrepreneurs, because every new business needs a professional website.
Ever since the pandemic, the industry of web design and web designers have been thriving since their work fully depends on the internet. There is no need for in-person interaction to design a website for someone. And if there is anything to discuss with their clients, it can be successfully achieved online.
The pandemic also forced a lot of businesses to move online, such as stores and restaurants, which caused the number of websites needing to be designed to increase significantly.
Let’s face it, if it weren’t for the healthcare industry, we probably wouldn’t be alive today!
If there is one industry that the world would ever be grateful for during these trying times is the healthcare industry. Their selfless efforts to aid everyone all around the world has helped save numerous lives.
Doctors, nurses, social workers, medical assistants, and healthcare workers with their public-spirited attitude have helped every single one of us either with personal assistance or with spreading awareness about the virus.
This industry of healthcare has thrived the most during the pandemic. The industry saw an incremental growth of $3.80 billion. It does not just limit itself to healthcare workers but also extends itself to service providers like pharmaceutical companies, sanitation industries, and much more.
Not all of us were infected with the virus, but certainly all of us were affected by it. The world was collectively confronted with adversities ever since March of 2020. Most of us have either faced the loss of loved ones, experienced stagnation, loss of financial resources, and much more.
The plethora of overwhelming events has caused anxiety and depression among many people. There has been a striking increase in the spread of awareness of mental health and its implications on people’s lives.
Due to which, the industry of psychology and well-being has gained much interest and voluntary participation from numerous individuals. The psychological industry saw a growth of $588 million in the beginning of 2020, just before July. This was one of the many industries that was prosperous during covid.
Fitness Equipment Industries
If the novel coronavirus has taught us one thing, it’s that health is of utmost importance, and maintaining good health is where fitness equipment companies come into play.
While many have had body transformations during the first three months of quarantine, fitness and health is more than just weight loss. It requires healthy breathing patterns, great stamina, building muscle mass and following a balanced diet.
Since gymnasiums, yoga centers, hiking, and any outdoor activities were off limits, most people were forced to exercise and practice fitness from their homes resulting in the purchase of fitness equipment.
The boom in this industry saw an increment of $20.31 billion since the beginning of the pandemic. The fitness equipment industry much like the others mentioned above has boomed significantly during covid.
We have all learned the importance of sanitation industries and cleaning services because of COVID-19. The sanitation industry saw a boom in its purchases when handwashing and the need for sanitization was made a necessity and a means of protection from the virus.
cleaning services have been in high demand since the beginning of the pandemic to curb the spread of the virus. Deep cleaning of hospitals, offices, homes, and public spaces were essential, and their services were in high demand.
The industry of sanitization and cleaning services saw an increase with an incremental growth of $387.99 million in the first half of 2020! This is undoubtedly one of the many industries that thrived during Covid and will continue irrespective of the pandemic.
A lot of industries were massively hit during the pandemic. We saw the stock markets crash and the economy of various countries significantly down. During the pandemic, we have seen numerous businesses fall and burn while some others have thrived.
If there is one thing that the pandemic has shed light on, it is the value of life, hygiene, good health, and flexible and adaptable businesses in a modern world.
This article does not necessarily reflect the opinions of the editors or the management of EconoTimes