Global drug spend could reach $1.9 trillion by 2027, says IQVIA

Research from the IQVIA Institute for Human Data Science shows that total spending and global demand for medicines could hit $1.9 trillion by 2027.

The headline figure comes from a new report, “Global Use of Medicines 2023 – Outlook through 2027” which estimates an underlying growth rate of between 3% and 6% in spending.

As populations age in various developed markets, one factor that increases demand for healthcare products and services, the projected boost to spending will be tied to in part to wider use of existing brands.