According to a recent study by Pharma Insight, released by Wolters Kluwer Pharma Solutions, in 2009 there were 2.6 billion prescriptions filled for generic drugs and only 1.3 billion for brand-name medications. In a down economy, more people turn to generics as a way to save money. This can cost the pharmaceutical industry billions of dollars every year.
Increased request for generics over brand names is not the only trend seen in the drug market. Abandonment is the term for prescriptions left at the pharmacy that are never fulfilled. Last year the abandonment rate for new prescriptions of brand name drugs was 8.6%, a 23% increase over the rate in 2008 and a 68% increase since 2006.
According to Dea Belasi, consulting practice leader of managed markets for Wolters Kluwer Pharma Solutions, “What’s peculiar is that the rate of increase among patients walking away is almost unprecedented. The [abandonment] trend that we are seeing is just going up and up.”
Belasi suggests macroeconomic factors such as the housing crisis, current recession and lower household incomes are behind the rising rate of prescription noncompliance. Consumers are trying to save money by self-medicating or reducing overall drug consumption.
For more on how the economy is affecting patient compliance in healthcare, please read our current online issue of CONNECT. To subscribe to this free, online newsletter, click here.
