Chapter

Ageing and pharmaceutical innovation

Roland Eisen and Yasemin Ilgin

in The Economics of New Health Technologies

Published in print May 2009 | ISBN: 9780199550685
Published online February 2010 | e-ISBN: 9780191720543 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199550685.003.0009
 Ageing and pharmaceutical innovation

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This chapter asks whether elderly people only spend more on pharmaceuticals to have an easier life, or whether the pharmaceutical industry reacts to this trend of ‘population greying’ by directing research and development (R&D) of new pharmaceuticals in this direction. It outlines a general way in which the process of innovation might be conceptualized, stressing the importance of ‘induced innovations’. It develops the hypothesis that as the proportion of elderly in a population rises, not only the share of pharmaceutical expenditure rises, but also the share of pharmaceutical R&D devoted to this part of the population. With the help of a simple econometric model, the chapter tests this hypothesis and present some results.

Keywords: elderly; pharmaceutical expenditures; health care expenditures; population greying; pharmaceutical R&D; econometric model

Chapter.  3182 words.  Illustrated.

Subjects: Public Health and Epidemiology

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