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Netherlands Embracing Generics to Counter Growing Healthcare Costs
With the elderly making up an ever
greater share of the country’s population, the Netherlands is
increasingly supporting its generics sector in an attempt to address
mounting healthcare costs, says a new report from industry
experts GlobalData.
The firm’s latest publication —
Healthcare, Regulatory and Reimbursement Landscape — Netherlands — shows that the percentage of Dutch citizens aged 65 and over has climbed
from 14.1% in 2006 to 15.6% last year, and is expected to further
increase to 18.6% by the end of the decade – unavoidably increasing the
demand on the nation’s healthcare resources.
In a bid to cut the country’s healthcare deficit, the Netherlands is focusing on the use of generics as a cost-containment tool. In 2008, health insurers introduced preference policies, which contain lists of medicines that have the same composition (or active substance), but differ in price. This resulted from health insurers’ preference to reimbursing these less expensive medications. Consequently, the prices of commonly-used generic drugs fell by an average of 85% the following year.
In addition, the government allowed insurers to add biosimilar drugs in their preference policies in 2009, providing further momentum to the country’s expanding generics market.
Thanks in part to this system, the generic pharmaceutical market in the Netherlands increased in value from US$832m in 2005 to an estimated US$1.8 billion in 2010, at a Compound Annual Growth Rate (CAGR) of 15%.
With several major drugs going off-patent in the near future, GlobalData expects the Dutch generics sector to continue its impressive expansion, providing fantastic opportunities for the country’s generics manufacturers.
See the report:
Healthcare, Regulatory and Reimbursement Landscape - Netherlands
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Published: November 2012, Reference code: GDHC0030CHR
Report Price: $1995 (Single User License)