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Around half of the patients in the scientific studies (so potentially not all patients but only the most severe cases that go to the hospital) needed oxygen and advanced cure, hospitals can't manage thousands and thousands severe cases, it's simply not possible materially.
And there are also the regular patients aside, that need the same care as those with Covid2019.
Not to mention that oxygen for medical purpose is very expensive and difficult to get in great quantities.
With all these parameters considered I think we can say that the case fatality rate of the epidemy would be far worse than 2,3% .
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