Impact Of Intellectual Property Rights On The Competitiveness Of The Pharmaceutical Sector

Abstract

Intellectual Property Rights (IPRs) play a crucial role in shaping the dynamics of innovation, competition, and market access within the pharmaceutical sector. This paper aims to explore the multifaceted impact of IPRs on the competitiveness of the pharmaceutical industry. Through a comprehensive review of existing literature, this study examines how patents, copyrights, trademarks, and other forms of intellectual property protection influence various aspects of competitiveness in the pharmaceutical domain.The analysis begins by outlining the fundamental principles of IPRs and their significance in incentivizing innovation and knowledge creation. It then delves into the intricate relationship between IPRs and market competition, highlighting both positive and negative implications. On one hand, strong patent protection can foster innovation by providing incentives for research and development (R&D) investment, thus enhancing the competitiveness of pharmaceutical firms. On the other hand, excessive patenting and the abuse of intellectual property rights may stifle competition, limit access to essential medicines, and impede technological progress.