Global Rx Spending Expected To Reach $1.4T by 2020
Prescription drug spending is expected to increase by 3% to 6% annually over the next five years, according to an IMS Health report released Wednesday. The report predicts that global drug sales will reach a record $1.4 trillion in 2020, up from $349 billion in 2015. However, rebates and discounts could reduce the total by $90 billion, according to the report. In comparison, global prescription drug spending increased by about $182 billion between 2011 and 2015.
- "IMS Health: Drug Spending To Jump 30% to $1.3T in 2020" (Johnson, AP/New York Times, 11/18).