A further €4bn ($4.72bn) a year in funding could come into Europe if targets to increase clinical trials in the region by 11% are met, research has found.
New analysis from Frontier Economics, published by European Federation of Pharmaceutical Industries and Associations (EFPIA), finds that this move could also see a further 35,000 Europeans benefit from access to groundbreaking medical treatments, create 18,000 new jobs and prevent three million sick days.
The 11% growth target was set by the European Commission (EC), European Medicines Agency (EMA) and Heads of Medicines Agencies (HMA). If Europe were able to meet this target, it would equate to around an extra 500 multinational trials over the next five years, increasing from 900 to 1000 per year.
The research further found that if Europe were able to regain its “lost trials”, which are studies that have moved out of the region since 2013, trial activity would increase by 25%. This could deliver €8.9bn in additional Gross Value Added (GVA) and 79,000 more clinical trial places.
If the region were to catch up with industry leaders, the US and China, which would require a 50% increase in activity, this could unlock up to €17.9bn for Europe’s economy and create 158,000 additional trial places.
Industry-sponsored clinical trials already generate an estimated €35.7bn in economic value each year across the European Economic Area (EEA), made up from €21.7bn from clinical trial activity itself, €3.6bn in R&D spillover benefits and €10.4bn from improved workforce productivity through the prevention of 26.9 million sick days.
There have been a number of recent initiatives by the EU, including the EU Biotech Act and the ACT EU initiative, as well as renewed national efforts, to create a more “harmonised and agile” clinical research ecosystem.
Nathalie Moll, director general of the EFPIA, said: “There is no downside to hosting clinical trials in Europe, only health and economic gains for patients and society. Meeting the EU targets should be the absolute minimum to which we should aspire. A vibrant research and development ecosystem will lead to better health outcomes for Europeans, more sustainable and resilient healthcare systems, and significant economic growth. Other countries have recognised this and have acted; it is high time that Europe chooses to do the same.”
According to GlobalData’s “Strategic Intelligence: The State of the Biopharmaceutical Industry 2026 Edition”, EU regulatory data protection (RDP) continues to be a major focal point for pharmaceutical legislation and could create a barrier for the region.
