Impacts of population aging on the quantity and quality of pharmaceutical innovation: evidence from OECD countries

IF 3.7 Q1 ECONOMICS
Ke Shen, Zhenyi Huang
{"title":"Impacts of population aging on the quantity and quality of pharmaceutical innovation: evidence from OECD countries","authors":"Ke Shen, Zhenyi Huang","doi":"10.1080/17538963.2023.2254144","DOIUrl":null,"url":null,"abstract":"Against the backdrop of rapid population aging, we examine the impacts of population aging on pharmaceutical innovation based on the panel data of OECD countries between 1997 and 2018. We show that population aging effectively boosts the quantity and quality of pharmaceutical innovation before the share of older adults approaches 14%, the threshold for the aged society. Once the country enters the aged society, however, population aging is no longer associated with the quantity of pharmaceutical patents, and even significantly depresses the quality of patenting. Moreover, the type of welfare state regimes plays a notable moderating role. High welfare states could effectively amplify the positive effects of aging or attenuate the negative impacts of aging on pharmaceutical innovation. Our results suggest that the dividend of aging in pharmaceutical industry does exist in the early stage of aging, and the government needs to plan ahead to ameliorate the deterioration of innovation in aged and super-aged societies.","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":null,"pages":null},"PeriodicalIF":3.7000,"publicationDate":"2023-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"China Economic Journal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/17538963.2023.2254144","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0

Abstract

Against the backdrop of rapid population aging, we examine the impacts of population aging on pharmaceutical innovation based on the panel data of OECD countries between 1997 and 2018. We show that population aging effectively boosts the quantity and quality of pharmaceutical innovation before the share of older adults approaches 14%, the threshold for the aged society. Once the country enters the aged society, however, population aging is no longer associated with the quantity of pharmaceutical patents, and even significantly depresses the quality of patenting. Moreover, the type of welfare state regimes plays a notable moderating role. High welfare states could effectively amplify the positive effects of aging or attenuate the negative impacts of aging on pharmaceutical innovation. Our results suggest that the dividend of aging in pharmaceutical industry does exist in the early stage of aging, and the government needs to plan ahead to ameliorate the deterioration of innovation in aged and super-aged societies.
人口老龄化对医药创新数量和质量的影响:来自经合组织国家的证据
在人口快速老龄化背景下,基于1997 - 2018年经合组织国家面板数据,研究了人口老龄化对医药创新的影响。研究表明,在老年人比例接近老龄化社会门槛14%之前,人口老龄化有效提升了医药创新的数量和质量。然而,一旦国家进入老龄化社会,人口老龄化与药品专利数量不再相关,甚至显著抑制了专利质量。此外,福利国家制度的类型起着显著的调节作用。高福利国家可以有效地放大老龄化对药物创新的积极影响或减弱老龄化对药物创新的负面影响。研究结果表明,在老龄化初期,医药产业的老龄化红利确实存在,政府需要提前规划,以改善老龄化和超老龄化社会的创新恶化。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
CiteScore
5.60
自引率
3.00%
发文量
20
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信