COVID-19, a highly transmissible pandemic disease, affecting millions of lives around the world . Severely infected patients show acute respiratory distress symptoms . Sustainable management strategies are required to save the lives of the infected people and further preventing spread of the virus . Diagnosis, treatment, and vaccination development initiatives are already exhibited from the scientific community to fight against this virus . In this review, we primarily discuss the management strategies including Prevention of spread, prophylaxis, vaccinations, and treatment for COVID-19 . Further, analysis of vaccine development status and performance are also briefly discussed . Global social and economic impact of COVID-19 are also analyzed as part of this review.