The 2020 Coronavirus pandemic created a massive demand for preventive vaccines, as well as recovery therapy for patients suffering from the virus. Millions of dollars are being spent on science.
Fremont, CA: The Coronavirus pandemic has created new threats for both patients and caregivers. New safety procedures and costs will be normal for years to come—maybe forever, as many work to prevent the spread of Coronavirus and any potential viral threats. Vast new demand for PPE such as pulmonary drugs, masks, and support such as ventilators, and access to ICUs has been created.
COVID-19 Presents Challenges Before the Health Care System
In the meantime, both patients and caregivers have changed their habits. Patients have decided not to visit the doctors' and dentists' offices in order to avoid possible exposure to the virus. Many caregivers' offices were temporarily closed, while doctors reap the advantages of modern high-speed internet connections as well as advanced web conferencing equipment to deliver care through telemedicine. In reality, telemedicine, long-suffering from slow acceptance, has risen and is now firmly entrenched as an accepted and successful method. Elective surgery has been postponed or cancelled.
The economic implications for the health sector have been dire. One of the fastest-growing employment markets, the US health care industry experienced a shocking job loss of 1 million employees from February to September 2020. Around the same time, millions of employees have lost their jobs in other sectors. As a result, significant numbers of Americans have lost their generous employer given health insurance, and the loss would be long-term for many of them.
Rising Demand for COVID-19 Vaccines and Therapies
The 2020 Coronavirus pandemic created a massive demand for preventive vaccines, as well as recovery therapy for patients suffering from the virus. Millions of dollars are being spent on science. Traditionally, new drug therapy takes 10 to 15 years to study, develop, conduct clinical trials, and get into the hands of physicians. Historically, new vaccines have also been placed on the market for as long as ten years. However, high-speed production of drugs and vaccines for Coronavirus has taken place.
