Economic Analysis of Drug Costs Across Multiple Therapeutic Categories

Abstract

Background: Healthcare costs are on the rise, which is a global concern. One major factor influencing these costs is the cost of drugs. With regard to antianginal pharmaceuticals, antipsychotics, antiparkinsonian drugs, anticonvulsants, antidiabetic drugs, antithyroid meds, and anticancer treatments, the goal of this study is to present a thorough review of the cost of therapy. It is imperative to comprehend the financial consequences of these drugs in order to effectively allocate healthcare resources and enhance the availability of necessary therapies.

Methods and Materials:A retrospective analysis was carried out on drug pricing data obtained from various sources, such as publicly available drug price indexes, pharmaceutical pricing databases, and health insurance claims. The study's three-month duration allowed for the collection of trends and variances. To provide a thorough understanding of prescription expenses, the data included a variety of geographic areas and healthcare systems. A standardised technique was used to complete the cost analysis, and the findings were normalised to reflect costs in a common currency to facilitate direct comparisons.

Results: Significant differences in treatment costs for the chosen drug groups are shown by our findings. During the course of the investigation, the prices of antianginal and anticonvulsant medications were comparatively steady. In contrast, there were significant cost fluctuations and increased trends in recent years for antipsychotic, antiparkinsonian, antidiabetic, antithyroid, and anticancer medications. There were also clear regional differences, with some areas having far greater drug prices than others.

Conclusion: The changing character of pharmaceutical price is emphasised by the economic study of therapy costs for these drug types. The findings point to the necessity of continuing assessment and legislative initiatives to control and lessen the escalating expenses of necessary pharmaceuticals, particularly when it comes to antianginal,anticonvulsant, antipsychotic, antiparkinsonian, antidiabetic, antithyroid, and anticancer therapies. Healthcare stakeholders must comprehend the pricing dynamics of these drug classes in order to create plans that guarantee patient access and affordability while preserving the long-term viability of healthcare systems.