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A pandemic is when a dangerous disease breaks out across the world — as opposed to an epidemic, which is localized. The usual criteria for a pandemic is something that spreads across different continents at epidemic levels and that isn't the seasonal flu. This used to take years if not decades, but due to the increase in travel technology, an outbreak in one part of the world can now quickly spread to a major city and from there to the rest of the world. The term has a connotation of referring to an especially bad outbreak, but it refers to the distribution of the event, not the severity.
Because pandemics are very real low-probability, high consequence events that strike with little or no warning, there is an intersection between concerned government officials (who have to plan ahead of time because of how fast it can spread) and survivalism circles. Some of the latter can descend to woo (i.e. world will be purged in a tide of blood by ebola ) but there's no one in the relevant fields who isn't afraid of bird flu adapting to mammals.
Notable pandemics include the 1918 influenza pandemic, which was encouraged by large numbers of military personnel during suffering from poor sanitation and traveling between continents, and the ongoing AIDS pandemic. A recent (if less fatal) disease which was called a potential pandemic in the media was SARS, which started in China and made its way to Toronto, Canada. The bird flu virus (H5N1) has been seen as a possible pandemic virus. Swine flu (H1N1) was classified as a pandemic during the summer of May 2009 by the World Health Organization — killing over 14,000 people. Some portions of the press seemed to think that the pandemic never actually happened, and that it was all scaremongering.