The Societal Value of Clinical Drug Trials in Finland: 10 Million Euros per Trial
A study by ESiOR Oy and Pharma Industry Finland conducted in the Spring 2024 estimated that the societal value an average clinical drug trial conducted Finland at €10 million, considering both direct and indirect impacts.
Key Findings:
- Direct Value: The average direct value of care provided in a clinical drug trial is estimated at €1.2 million, with 41% coming from drugs paid by sponsors and 34% from treatment and monitoring.
- Total Societal Value: Estimated at €10 million per trial, including benefits from spill-over health benefits (73%) and cost savings (15%).
- Impact on Healthcare: Between 2018 and 2023, clinical drug trials contributed an estimated €880 million annually to Finland’s healthcare system.
The present study builds on our earlier regional findings from North Savo, where research investments at Kuopio University Hospital returned the Wellbeing Service County of North Savo €3.9 of value for every €1 invested. The new findings highlight the broader societal benefits of clinical trials, reinforcing their importance beyond the direct healthcare costs at the national level.
Billions of euros worth of health benefits and health care cost savings are threatened, unless the decades long decline in number of clinical trials is reversed.
Read More About the Study’s Findings
Event: ISPOR Europe 2024, Barcelona, Farmasian päivät 2024
Previous study in Northern Savo: ISPOR – Should Hospitals Do Contract Research? Costs, Net Monetary Benefit, and Return on Public Sector Investments in Research at Kuopio University Hospital
Picture: Stock Images