The Unregulated Alt-Health Industry Dwarfs Big Pharma
Pushing back on the idea that pharmaceutical companies are uniquely villainous, Professor Dave cites data showing the global wellness/alt-health market at roughly $6 trillion versus an estimated $1-2 trillion for global pharma. He argues supplements and alt-health products are sold with zero clinical testing while pharma at least goes through regulated trials.
- Global wellness market estimated at over $6 trillion versus $1-2 trillion for pharma
- Alt-health products are largely untested and unregulated, unlike pharmaceutical drugs
- Professor Dave argues the 'cartoonish villainization' of pharma has propped up the alt-health industry
- US pharma R&D spend cited at $83 billion in 2019, funded mostly by private industry, not government grants
“Do you know that the alt-health industry is significantly larger than the pharma industry?”
“Estimates place the global wellness market at over $6 trillion, which is several times larger than the estimated 1 to 2 trillion global pharma.”