Global spending on medicines will reach $1.4 trillion in 2020, driven by increased healthcare access in emerging markets and high-priced new drugs for cancer and other diseases, according to a forecast by IMS Health released on Wednesday. Some 225 new drugs will come to market over the next five years, about a third aimed at cancer, as well as medicines for rare diseases, which can carry ultra-high price tags, and treatments for autoimmune diseases and heart disease, the report said. Health system expansions in developing markets, leading to significantly increased access to cheap generic drugs, will also drive spending in 2020, according to IMS, which provides prescription drug use data for the pharmaceutical industry.
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Global drug spending to hit $1.4 trillion in 2020: IMS
