Changes in the Pharmaceutical Market in Terms of COVID-19

Abstract

Viktor Lukianchuk, Yevheniia Redkina, Halyna Prozorova, Larysa Vysotska, Tatyana Ihnatova

The first cases of COVID-19 were registered in Wuhan Province (China) at the end of 2019. WHO announced a new respiratory virus SARS-CoV-2 as a global pandemic on March 11, 2020. The current pandemic has had a catastrophic impact on the global economy, including the pharmaceutical sector. Nowadays there is no effective cure for this new infectious disease. Full-scale research and development concerning potential strategies for treatment and a stable drug supply chain in times of crisis are under way in all countries of the world. The current COVID-19 pandemic is putting tremendous pressure on health care systems around the world. Proposed control methods affect a huge number of patients with chronic diseases who are unable to access health-care facilities for regular medical care and medication. Therefore, this study traced the impact on the work of not only large pharmaceutical companies, but also small retail pharmacy chains, as an affordable and convenient mechanism that can help such patients to receive all necessary medication and contribute to the right drug uptake. This study analyzes thoroughly the work of pharmaceutical workers as a powerful force in counteracting the pandemic. The task of this study is to analyze the peculiarities of the pharmaceutical market in many countries during this pandemic. The author addresses the questions of the positive and negative aspects of the pharmaceutical industry. These aspects have developed under the current conditions on the example of Ukraine, as well as the United States, Germany, the Netherlands, Italy, China and other countries.