The annual cost of new oncology drugs will continue to trend upward over the next 5 years, eventually breaching the 0,000 level, according to a report on global pharmaceutical spending from the IQVIA Institute for Human Data Science (Figure 1
They are also expected to form a larger proportion of total new agent arrivals. These developments will occur despite a general diminution in the rate of compound annual growth in the global pharmaceuticals market, which will drop from 6.3% over the past 5 years to 3% to 6% over the next 5 years. The global market will reach .5 trillion by 2023, the report said. US spending on pharmaceuticals is anticipated to grow somewhat faster than the global average and outpace similar spending in China.
Aitken M, Kleinrock M, Simorellis A, Nass D. The global use of medicine in 2019 and outlook to 2023: forecasts and areas to watch. IQVIA Institute for Human Data Science. Published January 2019. iqviainstitute.org/GlobalOutlook2019.
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