- ECONOMIC IMPACT -
Latest update: 21 December
Swift development of COVID-19 vaccines and strong capital markets continue to drive Pharma growth
Hiring prospects for Pharma continue to improve in 2021 with the Pharma Jobs index growing by 86.2% to date
5.9%
GDP estimates for many countries have turned positive and the global economy is projected to grow 5.9 percent in 2021.
$5.6trn
A prolonged pandemic due to vaccine inequity and hesitancy could reduce global GDP by a cumulative $5.6 trillion over five years.
Global Economy to Revive in 2021 Due to Mass Vaccine Rollout
- SECTOR IMPACT: PHARMA -
Latest update: 3 December
industry development
1077
The number of disrupted trials continues to plateau, but 733 trials are experiencing overall slow enrolment
255
The downward trend of trials that had suspended enrolment continues after it peaked with 790 trials in May 2020.
Decentralized Trials
Remote patient monitoring, site initiation and movement towards decentralized trials are the top mitigation strategies for addressing trial disruptions.
As per data from GlobalData’s 2020 and 2021 Surveys on Decentralized/Virtual Clinical Trials, 60% of pharma respondents said the COVID-19 pandemic accelerated the move towards decentralized and virtual clinical trials. Compared to the 15% who did remote monitoring through patient portals, email, phone in response to disruptions due to the pandemic in 2020, 18% said they used these tools in 2021.
Key trends due to Covid-19
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