The global pharmaceutical market could surpass $1.5 trillion by 2023 with the U.S. being the main driver of spending, according to a new report from IQVIA.
“In the United States, overall spending growth is driven by a range of factors including new product uptake and brand pricing, while it is offset by patent expiries and generics,” the report states.
U.S. is expected to spend more than $600 billion on drugs in 2023.
The global market continues to be shaped by both the introduction of new products and the loss of exclusivity for others, according to the report.
To learn more about this report from IQVIA, click here.
