Financial effects of the COVID-19 pandemic on the global pharmaceutical market

The pharmaceutical industry, as a high-tech sector, plays an important role in responding to public health emergencies and preventing serious diseases in addition to improving people’s health. At the beginning of 2020, the coronavirus pandemic (COVID-19) began, and its impact continues at the present time. The crisis in the healthcare system led to an economic crisis, affected the macroeconomic situation in all countries and the global financial markets. At the same time, COVID-19 has brought new opportunities and challenges to the global pharmaceutical market and the steady growth of the industry, primarily due to growing demand. The pandemic has become a powerful impetus to the growth of investment in R&D around the world. There has been an increase in the volume of production of the pharmaceutical industry, in some countries due to an increase in public financing, in others due to the attraction of private and foreign investments. This article analyzes the financial impact of COVID-19 on the global pharmaceutical market in the short and long term and presents the global trends of the pharmaceutical market in the post-covid period.