A recent study conducted by Policy Cures Research has unveiled the substantial returns on investment generated by global health product Research and Development (R&D), with every $1 invested resulting in an astounding $405 in health and economic benefits to societies.
Investigating ROI in Global Health R&D
Funded by PCR’s G-FINDER, the two-year project utilized a sophisticated database of pipeline candidates in infectious diseases and advanced modeling techniques to calculate the ROI.
The study found that breakthrough drugs, diagnostics, vaccines, and vector control products aimed at combating poverty-related neglected diseases have not only saved countless lives but also resulted in significant economic benefits.
Impressive Returns
The ROI primarily stems from the modeling of lives saved and years of life saved by these innovative products, reflecting both retrospective and prospective impacts.
Dr. Nick Chapman, CEO of Policy Cures Research, highlighted the importance of this evidence in advocating for continued investment in global health R&D amid competing interests and budget pressures.
Societal Benefits
The study highlighted the immense societal benefits, projecting the prevention of 2.83 billion disability-adjusted life years (DALYs), translating to a net societal benefit of $49.7 trillion.
Over 70% of the projected health and economic impact is expected to occur between now and 2040, emphasizing the long-term value of ongoing investment in R&D.
Future Prospects
Neglected disease R&D has seen significant success, with 183 products targeting neglected diseases approved by regulatory agencies or prequalified by the World Health Organization (WHO) since 1999.
Currently, there are 752 active candidates in the neglected disease pipeline, with sustained investment expected to yield another 182 lifesaving products by 2040.
Collaborative Efforts
The groundbreaking project, conducted over two years, involved collaboration with Anthologie, Avenir Health, the African Population and Health Research Center, the Center for Global Development, and the Stanford Innovative Medicines Accelerator.
Funding was provided by the Bill & Melinda Gates Foundation, Open Philanthropy, and Wellcome.
The study’s findings provide compelling evidence for the immense health, economic, and societal benefits derived from investing in global health R&D. Continued investment is crucial to advance the pipeline and deliver groundbreaking products that address the world’s most pressing health challenges.
