| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8367 |
| DP8367 Market Size and Pharmaceutical Innovation | |
| Paul Seabright; Fiona Scott Morton; Pierre Dubois; Olivier de Mouzon | |
| 发表日期 | 2011-04-01 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | This paper quantifies the relationship between market size and innovation in the pharmaceutical industry. We estimate the elasticity of innovation, as measured by the number of new chemical entities appearing on the market for a given disease class, to the potential market size represented by the willingness of sufferers of diseases in that class (and others acting on their behalf such as insurers and governments) to spend on their treatment during the patent lifetime. We find positive significant elasticities with a point estimate under our preferred specification of 25.2%. This suggests that at the mean market size an additional $1.8 billion is required in additional patent life revenue to induce the invention of one additional new chemical entity. An elasticity substantially and significantly below one-half is also a plausible implication of the hypothesis that innovation in pharmaceuticals is becoming more difficult and expensive over time, as costs of regulatory approval rise and as the industry runs out of "low hanging fruit." |
| 主题 | Industrial Organization |
| 关键词 | Elasticity Innovation Market size Pharmaceuticals |
| URL | https://cepr.org/publications/dp8367 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537194 |
| 推荐引用方式 GB/T 7714 | Paul Seabright,Fiona Scott Morton,Pierre Dubois,et al. DP8367 Market Size and Pharmaceutical Innovation. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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