COVID-19 has brought the world to a standstill, significantly disrupting countless aspects of human life. Business operations across multiple industries have not been let off the hook by the health crisis, as many are currently struggling to stay afloat.
Nevertheless, some industries continue to improve in the face of adversity. Many of them have become increasingly relevant and profitable, recording enviable improvements even during the pandemic. Many experts predict that these sectors may even experience more boom post-COVID. Below are some specific industries that continue to advance despite the pandemic.
Pharmaceuticals
The pharmaceutical industry has always been a booming one, and this sector continues to experience tremendous growth and relevance even during the pandemic. The industry has already seen billions of dollars being pumped into it, as Big Pharma giants like Moderna and Pfizer create coronavirus vaccines. The pandemic has also exposed the need to continue infectious disease prevention and treatment research. This way, we can be better prepared to tackle the next pandemic. As such, more research and funding is going into strengthening disease-handling capabilities. Consequently, the pharmaceutical industry continues to improve daily, with pharmaceutical stocks rising due to this vital sector’s increasing relevance.
Today, many healthcare companies are focusing on healthcare technologies for drug development to improve disease treatment efforts. Vivek Ramaswamy, CEO of Roivant Sciences, is an excellent example of an entrepreneur seeking to enhance health outcomes. He established Roivant Sciences to bring innovative medicines for distinct therapeutic areas. Roivant is the parent company of other biopharmaceutical companies like Dermavant and Sinovant. Ramaswamy formed a 3-billion-dollar partnership with Sumitomo Dainippon Pharma, transferring ownership stake in Myovant Sciences, Altavant Sciences, Spirovant Sciences, Urovant Sciences, and Enzyvant Sciences.
Legal Services
The legal industry also continues to experience enviable growth even amid crises. Experts predict that the legal sector will experience a spike in the number of cases that need redress due to the lockdowns and more time being spent at home. Divorce rates are skyrocketing due to the restrictions, and family law is experiencing an unprecedented boom as a result. Lawyers involved in home sales have also recorded work increase, as more city dwellers want to move to the countryside due to the pandemic.
The legal industry is increasingly preparing itself for more legal action. For instance, it‚Äôs always beneficial to know how to serve papers to someone you can’t find if you get entangled in a personal lawsuit. Plaintiffs who file claims are responsible for serving these legal papers and documents. This procedure is known as the service of process and is required before any legal proceedings can move forward. You can serve defendants their summons by mailing a copy of the claim through certified mail to their last known address. Alternatively, you can hire a marshal who can perform personal services, although not all states allow officers to serve civil subpoenas. Lastly, you can secure private process services from the yellow pages to help you serve your legal documents to defendants.
Ecommerce
Online shopping continues to grow from strength to strength, and businesses within these industries continue to thrive even with the pandemic. Online retailers are increasingly getting more orders from people stuck at home, as these platforms are a safer and better way to shop these days. This trend will continue even after the pandemic and cause the online retail industry to flourish. Beauty product retail brands like Glamnetic are examples of online businesses that continue to experience significant demand for their products. They sell mascara, lush lashes, natural lashes, and other lash fits to make clients’ beauty routines easier at home instead of going to a salon.
In conclusion, although the coronavirus has hit the business world hard, several industries continue to flourish. Pharmaceuticals, legal services, and eCommerce are three great examples of these industries which are still advancing.