According to findings commissioned by Medicines for Ireland (MFI) and compiled by IQVIA Ireland generic medicines now account for 57% of the volume of the total prescription market in Ireland.
Over the past ten years the volume of generic medicines across Ireland has risen by 24%, this is due to effective Government policies and legislative changes regarding procurement and supply, as well as consistent activity for MFI members to promote the advantages associated with increased usage of generic medicines.
Chairperson for Medicines for Ireland, Padraic O’Brien said “Every time a generic medicine is dispensed, it represents a cost saving to the State and an opportunity for additional funding to be channelled to other areas of the healthcare system. Now more than ever a focus on quality and value is crucial for the State and the patients who rely on timely access to affordable medicines.”
“As an organisation MFI are proud that our membership will supply over 60 million packs of prescription medicines to Irish patients this year. This equates to an average of 2 packs of medicines every second.”
The greater use of generic medicines in Ireland helps patients access high quality treatments at considerably lower costs, it also produces significant savings for the State. This data for IQVIA also indicates treatment costs in Ireland have decreased sizably since 2013, with a notable reduction in 2021.
“Despite the considerable progressions presented in these findings we have still not reached the European average of 70% generic medicines usage, so there is still work to be done to improve Ireland’s position,” said Chairperson for the Medicines for Ireland Generics Committee, Melissa Fisher.
Since its foundation in 2016, Medicines for Ireland has been promoting the benefits of the increased use of generic medicines in Ireland. The organisation’s core objective is to improve the way Ireland procures and supplies medicines, in order to expand patient access to affordable, lifesaving and life-enhancing treatment.
“At MFI we look forward to engaging with Government and State bodies like the HSE on bringing forward new initiatives to boost use of generic medicines in Ireland, with the dual objective of helping to reduce State expenditure and delivering greater equality of access for patients,” concluded Mr O’Brien
This data also shows that 8 out of 10 of companies supplying the prescription market are generic medicines companies, 75% of these companies are MFI members.