Pharmacoeconomics is a field of study that evaluates the economic aspects of pharmaceutical products and treatments. It focuses on comparing the costs and outcomes of different medications to determine their value in healthcare. This helps healthcare providers and policymakers make informed decisions about which drugs to use based on their effectiveness and cost-efficiency. By analyzing factors such as drug prices, treatment effectiveness, and patient outcomes, pharmacoeconomics aims to optimize resource allocation in healthcare. This ensures that patients receive the best possible care while minimizing unnecessary expenses, ultimately contributing to improved health outcomes and more sustainable healthcare systems.