The global market for pharmaceuticals is expected to rise from $989 billion last year to $1,280–$1,310 billion by 2018, including the impacts of exchange-rate variability. Growth between 2014 and 2018 is expected to peak at 7% in 2014 due to the US. The combined annual growth rate (CAGR) for the US market from 2014 to 2018 is forecast to be 5%–8%. For Europe and Japan each, it is forecast to be 1%–4%. Pharmerging markets will have a CAGR of 8%–11% due primarily to generics. China’s CAGR is estimated to be 10%–13%. In 2018, it is estimated that Asia/Australia will account for 36% of global medicine spending, compared with 29% in 2013. Brand-name drugs, generics and “other” are estimated to contribute 52%, 35% and 13%, respectively, to the growth of medicine spending from 2013 to 2018. For the same period, specialty and traditional medicines are forecast to make up 60% and 40%, respectively, of medicine-spending growth. Spending on oncology medicines is expected to rise from $65 billion last year to $85–$115 billion by 2018.

Source: IMS Institute for Healthcare Informatics