The 2020s began with a rare coronavirus (COVID-19) disaster, which led to a pandemic-induced recession and Great Lockdown. In response, there has been a worldwide mobilization of resources to detect, treat, and cure the virus. Some policymakers are advocating for the repatriation of globally distributed healthcare know-how. Without a cure for COVID-19, the ambiguity concerning how coronavirus-related policies will impact international business remains unclear. Through a multi-method approach, our study sheds light on two key healthcare industry trends: decentralization and deglobalization of clinical trials. We offer actionable strategies to not only mitigate these challenges, but also to take advantage of their new opportunities.
Keywords: clinical trials; covid-19; decentralization; deglobalization; emerging technologies; healthcare.