A novel (new) corona virus (SARS-CoV-2), causing an emerging corona virus disease called COVID-19 was first detected in Wuhan City, Hubei Province, China. The disease outbreak in China which has taken a catastrophic turn with high toll rates in China and subsequently spreading across the globe which resulted in a pandemic situation in the world. The rapid spread of this virus to more than 213 countries and territories affecting nearly 9,504,264 persons with at least 5,161,054 have recovered while causing more than 483,681 human deaths. The SARS-CoV-2 virus belongs to the genus Beta corona virus, like MERS-CoV and SARS-CoV, all of which originated in bats. It is highly contagious, causing symptoms like fever, dyspnea, asthenia and pneumonia, thrombocytopenia and the severely infected patients succumb to the disease. Till date, no clinically proclaimed, proven therapeutic antibodies or specific drugs and therapeutics, and vaccines have turned up. In this review article, we describe the vaccine development and developing potential therapeutic options that can be explored to manage this pandemic virus infection, which would help in valid countering of COVID-19.