Growing Global Demand for Affordable Medicines and the Future of Sustainable Healthcare Systems

 

 

Healthcare is not only the fundamental human right, it’s a vital component of Human Existence.

The healthcare sector is witnessing a revolutionary shift due to advanced technology, new drug delivery systems, targeted therapies, and increased awareness and knowledge.

However, the rising healthcare inequality remains a global concern.

The high healthcare costs, an aging population, the increased prevalence of chronic diseases that need long-term treatments, and market inflation have brought a significant decline in essential healthcare accessibility.

In all countries – whether low-, middle- or high-income – there are wide disparities in the health status of different social groups.

Access to better healthcare remains limited to the upper-income class. The low-income class still struggles for essential healthcare.

Every year, 4.5 million people lack access to basic health amenities, and more than two million face financial hardships due to health costs.

Affordability and Accessibility - The pillars of sustainable healthcare systems

The high cost, increasing demand, and increased incidents of chronic diseases and morbidity challenge the sustainability of healthcare systems.

Accessibility and affordability have always been at the forefront of a manageable healthcare system.

Generic Drugs: Transforming the Healthcare Landscape

Access for All: Generic Drugs offer affordable life-saving treatments beyond demographic, geographic,    and socio-economic barriers with essential medicines accessible to all.

Generic drugs bridge the gap by reconciling the need for commercial viability with the long-term sustainability of access.

Economic Relief: Generic drugs account for a substantial portion of the global drug market due to their cost-effectiveness, making them increasingly popular with consumers, healthcare providers, and governments seeking to reduce overall medical expenditure.

Empowering Preventive and Chronic Care: With the growing trend toward self-care and preventive healthcare, patients opt to the uptake over-the-counter (OTC) generics and affordable treatments without compromising on quality.

Quality without Compromise: Generic Drugs hold the same standards as the brand equivalent drugs in dosage form, safety, strength, and route of administration, quality, and performance characteristics.

With regulatory compliance, adhering to GMP guidelines, meet rigorous standards for safety, efficacy,

Patient-centric care – Understanding the needs, preferences, and experiences of patients, generic drug companies focus on affordability and accessibility while designing patient-centric formulations and innovating packaging to enhance compliance.

Generic companies shifting the Market Dynamics –

Patented medicine manufacturers operate on the principle of exclusivity and are controlled by sole manufacturers. However, once the patents expire, generic companies step in to produce the same molecule at significantly lower prices, increasing competition, inclusivity, and affordability for all.

Generic drugs can cost up to 80-85% less than their brand-name counterparts.