A FINANCIAL PERSPECTIVE ON THE PHARMACEUTICAL INDUSTRY

Abstract

As a result of the epidemics in the world in recent years the importance of the health sector has once again emerged and countries have started to invest more in the health sector. In addition to developed countries, underdeveloped and developing countries are investing more in the health sector and technology and governments are trying to control increasing health expenditures. One of the important and dynamic sub-sectors of the health sector is the pharmaceutical sector. States and international companies are investing more in the pharmaceutical sector in order to combat the epidemics in recent years and are conducting more R&D studies by utilizing the developing technology. In this study in the light of the data published by the OECD, it is examined whether there is a similar relationship between the change in the share of health expenditures in the GNP (Gross National Product) of OECD countries between 2010 and 2022 and the change in the size of the pharmaceutical sector in OECD countries. The change in the size of the pharmaceutical sector and the change in the share of health expenditures in GNP have not yielded similar results in each OECD country. It is thought that different factors such as demographic characteristics, geographical location and economic conditions of countries should be taken into consideration when evaluating the relationship between these two variables.