Total global spending on medicines will exceed one trillion U.S. dollars in 2014, reaching almost $1.2 trillion in 2017, according to a new report.
The IMS Institute for Healthcare Informatics released its annual report on the Global Use of Medicines. The report finds that the U.S., Germany, France, Italy, United Kingdom, Spain, Japan and China will account for 67 percent of global spending on medicines in 2017.
The United States is expected to resume spending growth in 2014, after a two-year reduction due to the effect of the Affordable Care Act expanding access to health care.
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