Record breaking new drug approvals, a hefty product pipeline and dramatically improved R&D productivity that has kept expenditure growth below sales growth prove that the industry is turning a new corner according to Evaluate’s “World Preview 2014, Outlook to 2020” report.
- Industry to grow, on average, 5.1% per year from 2013 to 202
- Quality of new drug approvals rose 43%, added $24.4bn to US drug sales in 2018
- Biologicals make up 52% of top 100 prescription % OTC drug sales in 2020
- Oncology to set record high growth with 11.2% CAGR to 2020
“This much improved growth outlook comes as welcome news after two years of actual sales stagnation,” said Paul Hills, report author and Evaluate’s head of operations. “While the patent cliff is now but a distant memory, a new debate over drug pricing is stirring up controversy. This 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.”
Date: June 24, 2014
Filed Under: Drug Discovery