The IQVIA institute has released a report on global spending on medicines medicine during 2021 and projections up until 2026. The report, released last December, predicts that COVID-19 vaccinations will constitute a massive chunk of medicine spending over the next five years. In total, growth for the market is expected to be around 3-6% CAGR through 2026. Another factor behind the boost in spending is a surge of new drugs.
According to IQVIA, “A total of 300 new drugs are expected to be launched over the next five years to 2026, significantly higher than the level seen on average during the past decade, and are expected to skew toward specialty, niche and orphan drugs.”
Read more and find the full report by clicking here.
(Source: IQVIA, December 9th, 2021)