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As political discussions center on the reindustrialisation of Europe and enhancing its competitiveness, public health insurers are grappling with a significant challenge to financial sustainability. The entry of novel medicines, often accompanied by high prices and limited evidence of therapeutic benefit, raises critical questions regarding reimbursement amid constrained budgets and competing priorities.
Our ESIP-MEDEV compilation examines recent trends in pharmaceutical expenditure across the EU and EEA, drawing on national data from 16 ESIP and MEDEV members. It not only identifies a common trend of rapidly increasing pharmaceutical costs but also delves into the underlying drivers of this growth.
Key Findings:
· Pharmaceutical expenditure is consistently rising for both hospital and community pharmacy medicines.
· Price increases, rather than volume, are the primary drivers of pharmaceutical expenditure.
· Expenditure is concentrated in specific therapeutic groups across the region.
· The growth trend is particularly pronounced in the realm of rare diseases.
Yannis Natsis, ESIP Director, remarks, “The ESIP-MEDEV data serves as a vital reminder of why high medicine prices pose a systemic problem in Europe. Our members, as public authorities, strive to ensure optimal health outcomes within the constraints of national budgets. Therefore, innovation must be evidence-based and affordable; otherwise, the financial sustainability of our health and welfare systems is at risk.”
For more insights, please refer to our comprehensive ESIP-MEDEV compilation on trends in pharmaceutical expenditure.