My Opinion!
In my personal opinion I believe the potential benefits which the technology of pharming may bring to the pharmaceutical industry far outweigh its consequences. The prospects of new technology may seem initially daunting but as the technology of pharming matures it is likely to become one of the most commonly utilized technologies in the future. With technological advancement there will always follow its shadow the fear and doubt for the unknown, however science and the pursuit of knowledge will always have the drive and inclination to push forward. If we paused at every twist and turn or controversies that arise, scientific progress would be dramatically hindered. Despite the possible consequences we will learn best from our mistakes and it is mistakes that shape and guide the future in scientific advancement.
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Firstly the pure economical benefits that the technology of pharming can help produce will motivate large corporations to pursue this technology. Cheaper production costs of pharmaceuticals will drive competition between pharmaceutical companies and this will likely draw prices down. A decrease in the prices of pharmaceutical will be pivotal in providing affordable pharmaceuticals to those more desperately in need. This new technology may process the ability to increase the availability of crucial pharmaceutical to a vastly larger audience. The economic benefit that pharming will introduce to the industry will mostly likely help support the demand of lower socioeconomic classes and serve as crucial aid to third world countries where pharmaceutical like vaccines are scarce and out of reach.
Furthermore another major advantage which pharming will bring to the industry and public is its capacity for flexibility and efficiency. Pharming could increase production of pharmaceuticals significantly and this can help to fill in the vast supply shortage. By keeping up with the ever growing demand for pharmaceuticals, pharming could help save hundreds of lives each year. The flexibility and production capabilities that pharming could introduce to the industry will radically improve many fields across the industry and help power faster growth and research among those fields. As a new alternative to our currently struggling pharmaceutical supply the valuable life-saving medicine that pharming will help roll off the supply chain is instrumental in supporting today’s rapid growth in population. Especially in third-world and developing countries where population is increasing the fastest, the production capabilities in complement with its economic benefits pharming will play an influential role in these developing and third-world countries.
When boiled down to the very core cheaper production costs will be the biggest victory for manufacturer but consumer will also experience some of its benefits. A major argument against pharming is the possible monopoly that may arise out of utilization of the technology. On the other hand consumers will always remain conscious and the market will recognize when a company attempts to create a monopoly over the industry, here the dominant company will be rejected if their pharmaceutical become too expensive. Governments can also implement measures to prevent market monopolies as they will encourage smaller companies by providing them with tax benefits and aids. When it boils down to the most basic level pharmaceutical In the future will only become cheaper and more plentiful as consumers will always seek the cheaper option and if a corporation tries to monopolize over the industry consumers will merely turn to other companies.
Another major argument against pharming is the possible dangers of the technology and misconduct towards animals. As this field of technology matures new government regulations will be set in place to regulate the technology. Regulations usually starts out extremely strict and loosens as understanding matures, people’s fears for the unknown are ultimately what underpins regulations. Thus most government are likely to set in strict regulations before the technology comes under heavy employment, this has occurred under nearly all instances.
