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In 2025, the global medical expenditure will reach US $1.6 trillion

In 2025, the global medical expenditure will reach US $1.6 trillion

Recently, according to foreign media reports, the latest report of iqvia Institute of human data science “looking forward to 2025: trends in global drug expenditure and use”, global drug expenditure (using invoice price level) will grow at a compound annual growth rate of 3% to 6%, and will reach about US $1.6 trillion by 2025, excluding the expenditure on covid-19 vaccine.

The report shows that there are large differences in drug use and expenditure in the global market. By 2025, the strong growth of drug market will promote the growth of global drug expenditure. However, due to the expiration of a large number of original research drug patents and the market monopoly period, the market loss will exceed the expenditure on newly launched innovative products, which will slow down the growth rate; Control the global growth rate below 1% in the next five years.

In addition, the report shows that developed countries (middle-income or high-income countries) are expected to grow at a rate of 2 to 5 per cent by 2025, similar to the situation in the past five years. Among them, the composite annual growth rate of the U.S. market in the next five years is expected to be 0-3% in net price, which is lower than the 3% CAGR in the past five years.

It is worth mentioning that in the newly developed pharmaceutical industry countries, the growth of medical care and health care drives drug use changes. Among them, China is the representative, especially after COVID-19. In China, more innovative drugs are listed on the market, giving more choices to patients, the drug expenditure in China’s pharmaceutical market will increase rapidly. Among them, the growth rate of original innovative drugs was the fastest, with a compound growth rate of 9.4%.

Post time: Jun-04-2021

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