Monopoly
Monopoly (medicine)
Monopoly (pronounced: məˈnɒpəli) is a term not commonly used in the medical field. However, it can be applied to describe a situation where a single entity, such as a pharmaceutical company, has exclusive control over a particular drug or medical treatment.
Etymology
The term "monopoly" originates from the Greek words "monos" (meaning single) and "polein" (meaning to sell). It was first used in English in the late 16th century to describe exclusive control over a commodity or service in a particular market.
Related Terms
- Patent: A legal document that gives the holder exclusive rights to produce, sell, and use an invention for a certain period of time.
- Pharmaceutical company: A commercial business licensed to research, develop, market and distribute drugs, most commonly in the context of healthcare.
- Drug: A substance used to treat, cure, or prevent disease.
- Healthcare: The organized provision of medical care to individuals or a community.
- Market: A physical or virtual place where buyers and sellers meet to exchange goods and services.
See Also
External links
- Medical encyclopedia article on Monopoly
- Wikipedia's article - Monopoly
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