Global Spending On Medicines to Exceed One Trillion Dollars in 2014

A new report finds that the United States will also see spending growth.

Prescription Medicine
National Journal
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Clara Ritger
Nov. 21, 2013, 4:09 a.m.

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.