The pandemic shifted the global landscape in ways that one could never imagine. Our lives took a complete 180-degree turn and everyone had to get used to the ‘new normal’ which introduced new ways to live, work, communicate and buy & use products and services — and these ways are here to stay.

While the last 2 years have been a struggle for businesses as they had to reorient and restrategize to cope with unforeseen circumstances, some brands and businesses saw a surge in demand due to their product/service matching the needs of a pandemic-hit world. While many struggled to adapt to new ways of functioning and creating a need for their products/services, these conditions were exactly what some industries needed in order to thrive.

1. Medical devices, services & virtual healthcare- As healthcare was the first priority during the pandemic, it is no surprise that the medical and pharmaceutical industries benefited the most during this crisis. No doubt, the frontline workers were overwhelmed and exhausted but still put their best foot forward. Overall, the industry saw a huge surge in demand as people required medical resources and services at home as well. Potential lies in virtual healthcare services, especially portable, artificial intelligence-reliant medical devices and apps that will make individual healthcare and diagnosis more immediate and accessible to the general public.

As India announces COVID to be endemic, we can expect this particular industry to keep growing in the coming years. The market is expected to increase at a 37% CAGR to reach US$ 50 billion in 2025, from Rs. 75,611 crore (US$ 10.36 billion) in 2020.

1. Remote working tools and software- Adapting to a changing business environment, companies had to switch to remote working/ work from home tools and software.

As many companies suffered great loss in market cap value, Zoom, a video communication platform experienced an addition of $77.67bn to its market cap.

Other software like Microsoft Teams, Skype, Cisco Webex, Google Meet etc., saw a similar trend in their stocks and demand.

The desire to have more flexibility of operation and contingency for disruption will also drive businesses to rely more on cloud and virtual office solutions and therefore, these tools are likely to remain popular.

1. Entertainment- OTT platforms like Netflix and Amazon Prime, social media platforms such as TikTok and Instagram reels, Youtube and every other audio-visual medium grew in popularity during the pandemic. Content creation became one of the most preferred career options as engaging & fast content became the king. Sitting isolated from the world, trapped in the four walls of the house, people found solace in their phone screens, as it was the only window to the outside world.
2. Freelancing services- As more and more companies downsized, reduced payrolls and hired talent on a contractual basis, the freelancers saw high demand for their services. Increased purchases of commoditized services from online platforms like Fiverr, Upwork etc., proved to be reliable platforms offering a variety of services in different price ranges along with displayed work.
3. Electronic transfers and contactless payment- To minimize the transfer of the virus, people switched to smarter and safer ways to transact. With an active encouragement and use of electronic and contactless ways to transfer money, the pandemic could be a catalyst to move us one step closer to a cashless society. These mediums also reduced the travel and effort that one makes in transferring the physical form of money.
4. Home improvement- As staying at home became a full-time job during the pandemic, home improvement methods and tools rose to prominence. Viewership of home-gardening videos, DIY videos, home decor videos rose 3x during the pandemic. Goods like air purifiers, ergonomic chairs and floor carpets also exploded in demand.
5. Delivery Services-With brick and mortar stores shutting down and people staying indoors, delivery services came to the rescue that made the transfer of goods and services possible. An uptick in sales was experienced by these companies- from food to apparel to skincare products, one could get it all at their doorstep. In addition, the pandemic drove companies like Swiggy and Pidge to pick up commodities from one place and drop them at another.
6. Pet Products- With people quarantining at home, the perfect companion had to be a pet. The pet industry boomed in all parts of the world as people bought or adopted pets while isolating themselves. From food to accessories, from utility to grooming all products and services related to pet care shot up like never before. According to Global Market Insight and Euromonitor, though the Indian pet care industry is estimated at less than 0.8 percent of global industry valued at $190.1 billion USD in 2018, it is among the fastest-growing markets, with a projected compounded annual growth rate (CAGR) of about 17 percent in comparison with a global rate of 5.2 percent.

While a major part of the business world suffered great losses, people got laid off and experienced setbacks in their personal and professional lives, some industries saw an unprecedented growth with the probability of remaining relevant for the times to come.