Impact of Research-based industry to health, society and economic
Innovative medicines contribution to improving patient’s health and quality of life
Most people do not think about their health until they get sick. And when people get sick, they want to make sure that they can access the best treatment available. As well as the best medical doctor, and the best hospital, innovative medicines play an important role in delivering the best healthcare possible.
Innovative medicines help people living longer, healthier and more productive lives. They are transforming HIV and many cancers into treatable conditions, reducing the impact of chronic diseases like cardiovascular disease, diabetes, osteoporosis and rheumatoid arthritis, and fighting even the rarest conditions. The introduction of innovative drugs reduces hospitalization and other healthcare costs such as major surgery cost and costly assistance with recovery.
Currently, vaccines save the lives of over 2.5 million children each year. Between 2000 and 2013, immunization campaigns cut the number of deaths caused by measles by 75%, with a reduction of 92% in Africa between 2000 and 2008.
Innovative medicines has led to a dramatic decline in death rates for diseases such as HIV/AIDS, cancer, polio and measles. For example, death rates fo HIV/AIDS in the United States have fallen from 16.2 deaths per 100,000 people in 1995 to 2.1 deaths per 100,000 people in 2013 (a reduction of 87%).
In US, the spending for innovative medicines can help control increasing costs within a healthcare system as follows:
Every USD 1 spent on childhood vaccination, USD 10.20 were saved in disease treatment costs.
Every USD 1 spent on new medicines for congestive heart failure save USD 8.39 in medical spending.
Every USD 1 spent on prescription drugs, more than USD 2 are saved in hospitalization costs.
500 million immunized since 2000
Research-based industry contribute to knowledge-based society & competitiveness strengthening
The research-based pharmaceutical industry’s activities have a strong and positive socioeconomic impacts in the form of investments and technology transfer in R&D, manufacturing process as well as the constant improvements in academic research. It also stimulates the creation of companies that support parts of the research and production process.
Transfer of advanced technology is essential for economic development. It is one means by which low – and middle-income countries can accelerate the acquisition of knowledge, experience, and equipment related to advanced, innovative industrial products and processes. Technology transfer has the potential to help improve health. It also benefits the overall economy by increasing the reliability of supply, decreasing reliance on imports, and raising the competence of the local workforce.
Research-based Pharmaceutical Industry’s contribution to economy
The research-based pharmaceutical industry makes a major contribution to the prosperity of the world economy. It contributes to employment (direct, indirect, or induced), trade (through imports and exports), expenditure on research and development (R&D), and technological capacity building. It also stimulates the creation of companies that support parts of the research and production process. It is also a necessary foundation for the existence of the generic industry. Research-based industry in Thailand provides more than thousand of high-skilled jobs through direct employment and induces the creation of many more indirect jobs. Employees working in a research-based pharmaceutical company often receive qualified training and are exposed to new technologies and processes. This knowledge becomes an asset for the entire workforce, as the employees may later change jobs or start their own companies, hence fostering economic development..