Indian Health Expenditure and Pharmaceutical Sector’s Performance: A Pre- & Post-Trips Evaluation

Abstract

This dissertation looks at the pharmaceutical sector from the comparative lens of Pre- and Post-TRIPS regime. Adoption of TRIPS has been one of the most significant developments in the global multilateral economic system and has affected- directly and indirectly- the whole pharma system of the country. This study looks into the Indian Pharma Sector‘s setup with respect to industrial framework, output, R&D, and finally health expenditure with an emphasis on equitable access to medicines. With India having some of the highest out-of-pocket health expenses in the world. This dissertation explores India‘s National Health Accounts and find that pharmaceuticals account for 53.5% of overall household health spending. Moreover, unsurprisingly, Indian spending under non-hospitalized care (72 percent in villages & about 70% cities) is on drugs, indicating rising need and demand while also straining household finances. Subsequently, policy interventions are suggested for making medicines more affordable, accessible, and equitable to people; whereby bringing down the out-of-pocket health expenditure in poor countries like India.