Value of medicines
Medicines are of value both for individual patients, the social welfare and healthcare system and the society at large.
Medicines generate general wellbeing and provide better quality and add years to people's lives. New technologies and innovative individually customised treatments, timely access to care, vaccines and the support offered to patients continue to improve the therapy outcomes of patients.
Effective therapies also generate societal value. The impact takes place at the level of overall expenses, by decreasing the burden caused by illness and the losses in productivity, such as the cost of premature invalidity pensions and sickness absences.
Pharmacotherapies and advanced treatments have lowered age-adjusted mortality, providing society with added work years. Contrary to common beliefs, the share of the pharmacotherapy cost factor of the overall healthcare expenses has not grown during the past decade. In 2016, pharmacotherapies accounted for about 15 percent of public expenses, compared to 18 percent in 2008.
The medicines and health sectors also possess the potential of generating economic growth for society through research, innovation and cooperation. Cooperation can enhance research in the health sector, attracting increasing investments in Finland. This will also help us to keep the people with special competences – and their jobs – in Finland also in the future.