Effects of Dynamic Pricing Strategies on the Accessibility of Essential Medicines

DOI: https://doi.org/10.63345/ijrmp.org.v10.i2.4

Riya Shah

Independent Researcher

Mumbai, Maharashtra, India

Abstract

Dynamic pricing strategies have emerged as a crucial mechanism in addressing the challenges of cost and supply fluctuations in the pharmaceutical industry. This study investigates how these strategies impact the accessibility of essential medicines, particularly in low- and middle-income countries. By reviewing extant literature up to 2020, developing a mixed-methods methodology, and collecting primary data through surveys and secondary data analysis, we examine the balance between profit maximization and public health imperatives. The study finds that while dynamic pricing can improve market efficiency and supply chain responsiveness, it may also create barriers for vulnerable populations if not adequately regulated. Policy implications and recommendations for integrating ethical considerations into pricing algorithms are discussed.

Keywords

Dynamic pricing, essential medicines, accessibility, pricing strategies, healthcare economics

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