MODERN TRANSFORMATIONS OF WORLD DEVELOPMENT PHARMACEUTICAL MARKET

UDC 001.895:338:51

 

Pshebelskaya Lyudmila Yur’yevna − PhD (Economics), Associate Рrofessor, Assistant Professor, the Department of Production Organization and Real Estate Economics. Belarusian State Technological University (13a, Sverdlova str., 220006, Minsk, Republic of Belarus). E-mail: psh-ly@inbox.ru

Lednitskiy Andrey Vikent’yevich – PhD (Economics), Associate Рrofessor, Head of the Department of Enterprise Economy and Management. Belarusian State Technological University (13a, Sverdlova str., 220006, Minsk, Republic of Belarus). E-mail: ledniz@inbox.ru

 

DOI: https://doi.org/ 10.52065/2520-6877-2023-274-2-3 (In Russian).

 

Key words: pharmaceutical market, pharmaceutical companies, drugs, government regulation, pricing, development factors and trends, import substitution, drug safety.

 

For citation: Pshebelskaya L. Yu., Lednitskiy A. V. Modern transformations of world development pharmaceutical market. Proceedings of BSTU, issue 5, Economics and Management, 2023, no. 2 (274), pp. 23–30. DOI: 10.52065/2520-6877-2023-274-2-3 (In Russian).

 

Abstract

The pharmaceutical industry differs significantly from other sectors of economic activity. It is more knowledge-intensive, highly profitable, investment attractive, has significant social importance for the state and is under its increased control. In the current realities, there is a need to constantly search for and develop the most effective system of public regulators of the pharmaceutical market, with the help of which companies could minimise the period of bringing new drug products to the market and increase the number of new developments. At the same time, medicines must be affordable, safe and effective for final consumers, and their production and marketing must be profitable. All this determines the strategic nature of the industry for both the economic development of countries and their research potential. The article analyses the demand, supply and prices for pharmaceutical products, shows the role of transnational companies, and reveals the peculiarities of pharmaceutical pricing, the main factors and trends in the development of the global pharmaceutical market, characterises aspects related to state regulation of the pharmaceutical market at various levels, and reviews the key trends of the pharmaceutical market in the Republic of Belarus.

 

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17.09.2023