TITLE:
Public Medication and Health Services Demand in Greece: The Relationship between Generics and Prototype Drugs
AUTHORS:
Karolos-Karampet Avakian, Spyros Missiakoulis, Kanellos Toudas
KEYWORDS:
Drug Demand, Drug Supply, Generic Drugs, Prototype Drugs, Private Pharmaceutical Spending, Public Pharmaceutical Spending, Greek Pharmaceutical Sales
JOURNAL NAME:
Theoretical Economics Letters,
Vol.14 No.3,
June
26,
2024
ABSTRACT: This article aims to delve into the contemporary landscape of the pharmaceutical industry, specifically focusing on the demand for generic and prototype drugs. The research comprises two segments: theoretical and empirical. The theoretical section provides a literature review with accompanying clarification of terms related to drugs, emphasizing prototypes and generics, while also exploring the fundamental functions of pharmaceutical markets globally and in Greece from 2004 to 2020. The article investigates various theories detailing the factors influencing demand in the health and drug sector. In the empirical segment, a questionnaire survey involving 461 participants in the Athens area was carried out between January 2021 and April 2022. The sample, ranging from 18 to over 70 years old, was selected through random stratified sampling, employing on-site surveys in municipalities. Logistic multinominal regression identifies factors influencing this demand, including higher age, occupation in the private sector with moderate income, and residence in the southern or western suburbs. Findings indicate that the demand for generic drugs in this sample is not particularly high despite the fact that it contributes to social welfare and the national economy by saving resources.