Public Policy and Business
Market exclusivity is a period during which a product, often a new drug or medical device, is protected from competition in the market, allowing the holder to sell their product without generic alternatives. This exclusivity can be granted through various means, including patents and regulatory approvals, and it incentivizes innovation by ensuring that creators can recoup their investments without immediate competition. The duration and conditions of market exclusivity can vary significantly depending on the type of product and the regulations in place.
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