Faster access to innovative medicines prevented 1.8 million years of life lost across Europe between 2014 and 2022, according to a new report from the pharmaceutical industry group EFPIA.
The report highlighted significant disparities in access to new therapies across the region, with patients in some countries waiting years longer than others for treatments to become available. According to EFPIA, almost half of innovative medicines remain unavailable to patients in some European markets.
In Germany, patients gain access to newly approved medicines an average of 56 days after European approval. In Romania, the wait can extend to three years, illustrating the scale of variation across the continent.
“If Europe wants to remain a global leader in life sciences, it must create an environment where patients can benefit from scientific breakthroughs without unnecessary delay,” said Stefan Oelrich, President, EFPIA, and President, Pharmaceuticals Division, Bayer.
Innovative medicines and healthcare costs
Beyond patient outcomes, the report argues that faster access to innovative medicines could reduce pressure on healthcare systems and improve economic productivity.
According to the analysis, innovative medicines reduced hospital stays by 20.9 million days across 29 European countries between 2014 and 2022. EFPIA estimated this was equivalent to freeing more than 57,000 hospital beds for a full year.
The report also suggested that investment in innovative medicines generated returns worth more than six times their cost, creating an economic impact of more than €66bn across Europe.
“This data adds to the growing evidence base that spending in healthcare creates significantly more value than it costs society,” said Nathalie Moll, Director General, EFPIA. “Deprioritising health and medicines budgets is a political choice that is not only a strategic mistake but an economically self-defeating decision.”
Europe’s life sciences competitiveness
The findings come amid broader discussions about Europe’s competitiveness in life sciences and pharmaceutical innovation.
According to the report, Europe spends around 1% of GDP on pharmaceuticals, compared with 2% in the US and 1.8% in China. This, the EFPIA argues, is further evidence as to why that improving access to innovative medicines and increasing healthcare investment is critical.
- Author:
