The next 5 years: Higher R&D productivity is here to stay, emerging biotechs and new tech will have a big impact. But what about pricing?
Hindsight is 20/20 vision. But the drug market analysts at IQVIA believe they can also paint a clear picture of what lies ahead for all of biopharma in the next 5 years.
And it looks quite compelling — especially for the up-and-coming smaller companies with a hard focus on drug development and a taste for jumping into marketing. Globally, the industry can expect to see overall drug spending rise from $1.2 trillion in 2018 to $1.5 trillion in 2023 — with the pressure on US pricing rising.
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