Global medicine spending to reach $1.6 trillion in 2025

Global spending on medicines - using invoice price levels - is expected to grow at a 3%-6% compound annual growth rate (CAGR) through 2025 to reach a value of about $1.6 trillion by 2025, excluding spending of COVID-19 vaccines, according to a new research report - The Global Spending and Usage of Medicines – which has been released today by the IQVIA Institute for Human Data Science.

The total cumulative spending on COVID-19 vaccines through 2025 is projected to be $157 billion, largely focused on the initial wave of vaccinations to be completed by 2022. In subsequent years, booster shots are expected to be required on a biannual basis as the durability of immunity and the continued emergence of viral variants make an endemic virus the most likely outcome.