Research on the Development Trend and Prospect of the Pharmaceutical Industry under the Impact of COVID-19

Abstract

The pharmaceutical industry has the function of ensuring people's livelihood and high technical barriers, provides drugs and medical devices, and accompany the people throughout the life process. The pharmaceutical industry, a high-tech sector, plays a significant role in reacting to public health emergencies and avoiding big unexpected diseases in addition to enhancing people's health levels. At the end of 2019, the sudden outbreak of COVID-19 occurred, and its influence continued to expand. It brought new opportunities and challenges to the global pharmaceutical industry. Since the COVID-19, the expanding demand has driven the steady growth of the pharmaceutical industry, powerful nations have led the world pharmaceutical development, new vaccine has become the global highlight. As for pharmaceutical industry to further development, there are several suggestions in this paper: make more basic researches and develop new technologies, pharmaceutical industry alliance seeking win-win cooperation, enhance the independent innovation research and development strength promote industry core competitiveness, follow the national policy guidance to strengthen the pharmaceutical industry financial support.