Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 22 July
The global economy is forecasted to return to pre-crisis levels by the end of 2021 or early 2022.
According to the Australian Bureau of Statistics, the country added 30,000 jobs in June 2021.
The Congressional Budget Office of the US has forecast US real GDP growth at 7.4% in 2021 and at 3.1% in 2022.
The World Bank has downgraded the economic growth forecast for East Asia and the Pacific, excluding China, to 4% in 2021.
Impact of Covid-19 on equity indices
- SECTOR IMPACT: PHARMA -
Latest update: 04 August
Clinical trials using virtual components have increased even more rapidly in 2020 and 2021 with 3.75% of clinical trials using decentalised clinical trial components recorded in Q2 2021.
The number of jobs related to virtual trials has increased over the past year. Data shows an increase from 30 posted jobs in Q3 2019 to 160 in Q3 2020, with further increases to over 200 in Q1 and Q2 2021.
With multiple vaccines having shown impressive efficacy, notably for reductions in the need for hospitalisation and mortality, the window for utility for Covid-19 therapies may be rapidly contracting.
However, this may be offset increased illness caused by the rise of vaccine-resistant variants and shortages of vaccines in certain countries, such as India.
Low vaccination rates in localised areas could lead to ‘hyperlocal outbreaks’ where communities surrounded by high vaccination areas could experience outbreaks in localised clusters.
Key pharma market developments