Showing posts with label Global Drug Spending to Reach $1 Trillion in 2014. Show all posts
Showing posts with label Global Drug Spending to Reach $1 Trillion in 2014. Show all posts

Tuesday, January 7, 2014

Global Drug Spending to Reach $1 Trillion in 2014

Total worldwide spending on medications will reach $1 trillion in 2014 and $1.2 trillion in 2017, according to a report from IMS Institute for Healthcare Informatics released on November 19, 2013. Global spending on medications increased 2.6% in 2012 to $965 billion and is forecast to grow 3% to 6% per year over the next few years.

Overall annual spending on medications is projected to grow an average of 10% to 13% in emerging economies, compared with just 1% to 4% in developed nations. Spending growth is expected to be particularly strong in China, which is projected to account for 34% of total growth in worldwide medicine spending over the next few years.
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