Rising use of innovative medicines and shifting spending patterns are reshaping the global pharmaceutical landscape, according to a new report from US data analytics group IQVIA.
The report forecasts global medicine spending to continue climbing through 2029, led by branded drug sales in developed markets, even as usage per person remains largely flat.
IQVIA’s analysis shows that 394 novel active substances (NAS) were launched globally between 2020 and 2024, with a record 78 of those in 2024 alone. The USA accounted for 48 of last year’s NAS launches, a 22% increase from the previous five-year period. European markets also saw growth, although at a slower pace. The UK and the four largest EU countries had 43 launches in 2024, but still lag the US by a notable margin.
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