Global Spending on Medicine Predicted to Reach $1.5 Trillion by 2021

| December 7, 2016

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In a new report released in December 2016, QuintilesIMS detailed the global outlook for spending on medicine through 2021. The report, titled Outlook for Global Medicines Through 2021, predicted global spending on medicine will reach approximately $1.5 trillion by 2021 on an invoice price basis, although annual growth will slow. The United States will remain the world’s largest pharmaceutical market with China maintaining its spot as the second largest market, the report said. By 2021, new medicines are expected to dominate 35% of the market.

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