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Open Access Communication

Immediate and long-term effects of COVID-19's on the pharmaceutical industry

by Julez Audrick 1,*
1
Vilvoorde Hospital - A.Z. Jan Portaels, Gendarmeriestraat 65, 1800 Vilvoorde, Belgium
*
Author to whom correspondence should be addressed.
IJCMR  2024 2(6):42; https://doi.org/https://doi.org/10.61466/ijcmr2060002
Received: 2 September 2024 / Accepted: 12 November 2024 / Published Online: 15 November 2024
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Abstract

On March 11, 2020, the WHO declared the new coronavirus disease 2019 (COVID-19) to be a worldwide pandemic. This pandemic has significant repercussions on the pharmaceutical industry and the health market. These effects could manifest in the short or long term and require planning and detection to lessen their socioeconomic cost.

This brief communication research evaluated the COVID-19 pharmaceutical market problem and discussed the immediate and long-term effects of the pandemic on the pharmaceutical industry.

Demand adjustments, regulatory changes, modifications to the research and development process, and a move toward telemedicine and telecommunication are some of the short-term effects of the COVID-19 pandemic. Additionally, the COVID-19 pandemic may have long-term effects on the pharmaceutical industry at both the global and local levels, including a slowdown in industry growth, delays in approvals, a shift toward self-sufficiency in the pharmaceutical production supply chain, changes in consumer trends for health-market products, and ethical quandaries.

The discovery of these consequences may help policymakers create more evidence-based plans to address the issues that the COVID-19 pandemic presents to the pharmaceutical industry and other health markets.

Keywords: Corona virus; Pharmaceutical industry; SARS-CoV-2;
Copyright: © 2024 by Audrick. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

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ACS Style
Audrick, J. Immediate and long-term effects of COVID-19's on the pharmaceutical industry. International Journal of Clinical Medical Research, 2024, 2, 42. https://doi.org/https://doi.org/10.61466/ijcmr2060002
AMA Style
Audrick J. Immediate and long-term effects of COVID-19's on the pharmaceutical industry. International Journal of Clinical Medical Research; 2024, 2(6):42. https://doi.org/https://doi.org/10.61466/ijcmr2060002
Chicago/Turabian Style
Audrick, Julez 2024. "Immediate and long-term effects of COVID-19's on the pharmaceutical industry" International Journal of Clinical Medical Research 2, no.6:42. https://doi.org/https://doi.org/10.61466/ijcmr2060002
APA style
Audrick, J. (2024). Immediate and long-term effects of COVID-19's on the pharmaceutical industry. International Journal of Clinical Medical Research, 2(6), 42. https://doi.org/https://doi.org/10.61466/ijcmr2060002

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