INDUSTRY
The Global Use of Medicine in 2019 and Outlook to 2023
EXCERPTS FROM IQVIA’S REPORT ON THE INDUSTRY For the full report, see here GLOBAL PREDICTIONS • Global spending on medicines reached $1.2 trillion in 2018 and is set to exceed $1.5 trillion by 2023 • Invoice spending in the United States is expected to grow at 4–7% to $625–655 billion across all channels, but net manufacturer revenue is expected to be 35% below invoice and have growth of 3-6% as price growth
slows on both an invoice and net basis • Net drug prices in the United States increased at an estimated 1.5% in 2018 and are expected to rise at 0–3% over the next five years • China reached $137 billion in medicine spending in 2018, but will see growth slow to 3-6% in the next five years as central government reforms to expand
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insurance access to both rural and urban residents, as well as expansions and modernizations of the hospital system and primary care services, have been largely achieved and efforts shift to cost optimization and addressing corruption • Medicine spending in Japan totaled $86 billion in 2018, however, spending on medicines is expected to decline from -3 to 0% through 2023,
