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IQVIA Study on Global Medicine Spending Predictions by 2023
According to new research released from the IQVIA Institute for Human Data Science, total spending on medicines is expected to rise above $1.5 trillion by 2023, a 50% increase from 2014, even as annual growth moderates at 3%-6% on an annual compound basis compared to 6.3% over the past five years.
A few key highlights featured in the report include:
- Prescription opioid use in the United States peaked in 2011 on a per capita morphine milligram equivalent basis and has now declined for seven consecutive years.
- The number of new products launched is expected to increase from an annual average of 46 in the past five years to an average of 54 through 2023.
- Use of artificial intelligence (AI) and machine learning (ML) by life sciences companies will accelerate and become the norm.
- Mobile apps are increasingly submitted to the FDA for clearance or approval.
- Pharmaceutical companies will continue hiring specialists in patient affairs and patient advocacy, building roles internally with most of the top 20 pharma companies having a senior-level or C-suite patient role by 2019.
To view the full report, click here.
What Every Pharma CEO Should Know About Unlocking the Potential of Scientific Data
December 11th 2024When integrated into pharmaceutical enterprises, scientific data has the potential to drive organizational growth and innovation. Mikael Hagstroem, CEO at leading laboratory informatics provider LabVantage Solutions, discusses how technology partners add significant value to pharmaceutical R&D, in addition to manufacturing quality.
Key Findings of the NIAGARA and HIMALAYA Trials
November 8th 2024In this episode of the Pharmaceutical Executive podcast, Shubh Goel, head of immuno-oncology, gastrointestinal tumors, US oncology business unit, AstraZeneca, discusses the findings of the NIAGARA trial in bladder cancer and the significance of the five-year overall survival data from the HIMALAYA trial, particularly the long-term efficacy of the STRIDE regimen for unresectable liver cancer.
