IQVIA predicts robust pharma growth over next five years

A new report from industry analyst IQVIA finds that global drug spending reached $1.2 trillion in 2018, and that total spending on medicines is expected to top $1.5 trillion by 2023, up 50% from 2016.

The  study found however that annual growth is likely to slow to between 3% and 6% on an annual compound basis, compared to 6.3% over the past five years, with key markets driving growth likely to be the USA and emerging markets.

The report, titled “Global Use of Medicine in 2019 and Outlook to 2023: Forecasts and Areas to Watch,” also analyzes several key healthcare areas and produces predictions to monitor in coming years.