The Impact of Accelerated R&D Processes on the Global Biotech Market Post-Pandemic

Abstract

A number of issues or weaknesses in the present drug research and development system have also been brought to light by COVID-19. Particularly for a new and developing virus, it has exposed the intricacy and unpredictability of the scientific method. Designing and verifying suitable biological models, securely handling and cultivating the virus, finding and keeping eligible patients, and interpreting and disseminating the findings are only a few of the numerous obstacles and limitations that come with carrying out thorough and moral research. In order to prevent duplication, waste, and misunderstanding, COVID-19 has shown how important it is for many stakeholders including regulators, industry, academics, and public health organizations to coordinate and harmonize. Research funded that, the COVID-19 pandemic has affected medication research and discovery in ways never seen before. Numerous lessons may be drawn from these and used going ahead, including expanded partnerships, digital transformation, and regulatory adjustments. In a similar vein, it highlights the gaps that must be addressed, such as fair access to medicine distribution and delivery. We must remember this lesson. It's also critical to remember that the full effects of COVID-19 on pharmaceutical development and the business are still being felt. Future methods for medication development, clinical trials, and public health initiatives may be influenced by the lessons learnt from this worldwide health emergency.