COVID-19: Impact on Pharmaceutical Industry
The pharma industry has played a crucial role in fighting against the pandemic situation by supplying life-saving drugs to patients suffering from coronavirus. At the same time, the pandemic situation has also disrupted the global supply chains causing drug shortages all around the world. The COVID-19 year has caused considerable crises in the pharmaceutical and healthcare sector, but it is also considered as a primary driver for many technology-driven developments in the Pharma and healthcare sector.
Through this whitepaper, Delveinsight is presenting the negative and positive impact of COVID-19 on the pharmaceutical industry. Initially, the pandemic situation has some negative impacts on the pharma sector, such as delay in routine therapies, medication shortages, and disruption in the supply chain, but on the other hand, it has also brought advancement in the healthcare and pharmaceutical industry by shifting from face-to-face encounters to telecommunications and telehealth. Many pharmaceutical companies have taken initiatives to support their employees by providing emotional and physical support in the pandemic time. The COVID-19 has brought the digital transformation in the pharmaceutical sector, which has increased the usage of digital technologies all around the world. Thus, COVID-19 has provided an opportunity to improve and create new working models all around the globe.