Pfizer Covid Vaccine Set to Become Highest-Selling Medication Ever yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
IQVIA report forecasts global medicine spending to hit $1.6 trillion in 2025
30th April 2021
A new report looking at global medicine spending and usage trends has forecasted growth for the global medicine market through 2025, noting a ‘modest’ impact on pre-pandemic drivers of medicine use and spending from COVID-19.
The report, released by the IQVIA Institute for Human Data Science, has projected global spending on medicines to grow at 3-6% CAGR through 2025, reaching approximately $1.6 trillion by 2025, excluding spending on COVID-19 vaccines.
The increase in global medicine spending is expected to be lifted by stronger pharmerging market growth.
This will be offset by developed markets where slower growth is expected, following losses of exclusivity for original brands outweighing increased spending on newly launched products, according to the report.
Total COVID-19 vaccine spending to reach $157bn by 2025, says report
Report also forecasts total global medicines spending to hit approximately $1.6 trillion in 2025
Total cumulative spending on COVID-19 vaccines is projected to reach $157bn by 2025, according to a new report from the IQVIA Institute for Human Data Science.
The report, which considers the future level of global spending on medicines, also projected that the global medicine market – excluding COVID-19 vaccines – will reach approximately $1.6 trillion in 2025, reflecting a 3-6% growth.
It noted that even though short-term impact from COVID-19 in 2020 and 2021 has been significant, its effect on long-term growth is ‘more muted’.
Opioid Crisis Fast Facts
Here’s a look at the opioid crisis.
Opioids are drugs formulated to replicate the pain-reducing properties of opium. Prescription painkillers like morphine, oxycodone and hydrocodone are opioids. Illegal drugs like heroin and illicitly made fentanyl are also opioids. The word “opioid” is derived from the word “opium.”
Common Opioids
Hydrocodone and oxycodone are semi-synthetic opioids, manufactured in labs with natural and synthetic ingredients.
Fentanyl is a fully synthetic opioid, originally developed as a powerful anesthetic for surgery. It is also administered to alleviate severe pain associated with terminal illnesses like cancer. The drug is up to 100 times more powerful than morphine. Just a small dose can be deadly. Illicitly produced fentanyl has been a driving factor in the number of overdose deaths in recent years.
Opioid Crisis Fast Facts
Here’s a look at the opioid crisis.
Opioids are drugs formulated to replicate the pain-reducing properties of opium. Prescription painkillers like morphine, oxycodone and hydrocodone are opioids. Illegal drugs like heroin and illicitly made fentanyl are also opioids. The word “opioid” is derived from the word “opium.”
Common Opioids
Hydrocodone and oxycodone are semi-synthetic opioids, manufactured in labs with natural and synthetic ingredients.
Fentanyl is a fully synthetic opioid, originally developed as a powerful anesthetic for surgery. It is also administered to alleviate severe pain associated with terminal illnesses like cancer. The drug is up to 100 times more powerful than morphine. Just a small dose can be deadly. Illicitly produced fentanyl has been a driving factor in the number of overdose deaths in recent years.