Impact of Coronavirus Disease (COVID-19) towards Economy and Vaccine Industry

Abstract

As 20 January 2021, there have been 94,963,847 confirmed cases of COVID-19, including 2,050,857 deaths, reported to World Health Organization (WHO). The outbreak of coronavirus disease (COVID-19) creates significant impact to economy activities in worldwide. Most economic sectors including tourism industry facing with difficulties during the outbreak of COVID-19. The COVID-19 outbreak creates negative effect and slow down all economic activities in worldwide. This disease spread easily that transmitted through droplets generated when an infected person coughs, sneezes, or exhales. Therefore, in surviving for global economy, a few pharmaceutical companies developing vaccine to cure the disease. Vaccines function by training and preparing the immune system of human body, to recognize and fight off the target viruses and bacteria. If the body is exposed to those disease-causing germs later, the body is immediately ready to destroy them, preventing illness. This paper analyzed the demand-supply of COVID-19 vaccine towards price and quantity. Result shows the increments in demand for vaccine, creates increments in price of vaccine. The finding of this study is important for policy maker to develop proper strategy in monitoring vaccine implementation including the price behavior.