Beyond this consideration, offers a mix of celebratory projections and tallies. For instance, Evaluate forecasts that will remain the No. 1 drug maker through 2020, with total prescription drug sales of $53.3 billion that year, representing a 5.4% share of the global market. And in 2020, Novartis is also forecast to spend the most of any drug maker on R&D, or $10.5 billion.
After a few up and down years, global prescription drug sales appear poised to take off and grow 4.8% annually over the next five years, reaching $987 billion by 2020. And the reason for the hefty growth is largely attributed to a crop of new medicines for hard-to-treat illnesses such as cancer and fewer patents expiring on big-selling drugs, according to a new forecast from Evaluate Pharma.
Expensive Hepatitis C Medications are driving prescription drug sales. Express Scripts says prescription drug spending soared 12 percent last year, the biggest increase in more than a decade.
While the forecasted average growth of 1.5 percent per year for prescription sales is certainly something to celebrate, the debate over drug pricing spurred by the approval of Gilead Science’s costly hepatitis C drug, Sovaldi, continues to stir up controversy. The pricing debate will only intensify as the industry continues to shift away from primary care and new technology waves offer innovative products that potentially take costs out of healthcare. But don’t expect easy discussions on products offering marginal benefits over generic products, which grew 5 percent in 2013 to 68.5bn.
|Total prescription sales||Diabetes care sales||Insulin and GLP-1 sales|