Rising pharmaceutical prices, particularly for novel therapies and cancer treatments, are driving increased health spending across Europe, placing significant strain on national budgets, according to a new study published this week. The report by the European Social Insurance Platform (ESIP) examined levels of national public spending on medicines and focused on which therapeutics absorb the bulk of the expenditure. “We found that, unsurprisingly, spending on medicines continues to increase,” said Benedetta Baldini, senior policy advisor at ESIP, presenting the outcomes of the study that collected data from 15 EU member states and Norway.
The study highlights a steady rise in pharmaceutical expenditure, both in hospitals and retail pharmacies—referred to as in-patient and out-patient expenditure, respectively. The main factor driving these hikes is the rising cost of medicines, rather than an increase in the volume of prescriptions. For example, in Austria, the number of prescribed drugs has not grown significantly, the study notes, whereas the cost per prescription in out-patient care has surged by 78% since 2013.
Among the costliest therapeutic areas, cancer drugs stand out, dominating both out- and in-patient spend. In France, for instance, oncology drugs make up 29% of out-patient pharmaceutical spending, with an annual growth rate of 11%. In the hospital setting, this number jumps dramatically, with 77% of in-patient drug spending dedicated to cancer treatments.
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