The COVID‐19 pandemic has become a significant global health crisis. The virus has spread to more than 200 countries worldwide and continues to infect more lives and cause more deaths. The second, and possibly the third wave, has begun, with hospitalizations and deaths rising continuously. The impact has galvanized research groups around the world that are working on novel diagnostics, vaccines, biotherapeutics, personal protective equipment, and epidemiological data analysis. This perspective focuses on the biological aspects of COVID‐19 infection, the origin and structure of SARS‐CoV‐2, its genomic variations, mode of transmission, pathogenesis in the human body, symptoms of the infection, mechanism of entry in the host cell, and techniques for clinical diagnosis. Precautionary measures, different treatment options, vaccine development, importance of multidisciplinary research, and political and global prospects of the pandemic have also been addressed. © 2020 Society of Chemical Industry