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The Next 5 Years for Medication Spending
The Global Use of Medicines 2023 report, released by the IQVIA Institute for Human Data Science, projected the largest driver of medication spending through the next 5 years to be the COVID-19 vaccine. However, leaving aside the COVID-19 vaccine and the pandemic, medication spending will continue to be driven by innovation, offset by the losses of exclusivity, and affected by the lower cost of generics and biosimilars.
Specialty medicines will represent 43% of global spending in 2027 and over 55% of total spending in developed markets. The two leading specialty therapeutic areas will continue to be oncology and immunology, forecasted to grow 13% to 16% and 3% to 6%, respectively, through 2027. Oncology is projected to add 100 new treatments over the next 5 years, contributing to an increase in spending of $184 billion to a global total spending of more than $370 billion in 2027 compared to $193 billion in 2022.
The 5-year on cology pipeline will include innovative treatments through cell therapy and RNA therapy, as well as immune- and mutation-specific/tumor-agnostic treatments. We will continue to see an increased adoption of biomarker testing and next-generation sequencing, driving the development and utilization of targeted therapies. What this means for the health care industry is that we must continue to improve efficiency and quality, informed by evidence-based decision-making, while still keeping our focus on the patient.
In our first feature article (page 15), you will read about a social determinant of health that has not been well researched or considered while making treatment decisions. We all are becoming more aware of the health disparities due to age, gender, geography, and social and economic environment; however, personal and spiritual beliefs are not often thought about. Petty et al evaluated the belief in research, religious coping, and willingness to participate in clinical trials by African American (AA) patients with hematologic malignancies. The basis for their exploration is that, while the AA population has a higher incidence and inferior outcomes in most hematologic malignancies when compared to the non-Hispanic White population, the AA population remains grossly underrepresented in clinical trials.
Our second feature article (page 22) addresses a post–COVID-19 syndrome (PCS) dyspnea and cough clinical pathway developed by the US Veterans Health Administration. This pathway was launched in 22 multispecialty post–COVID-19 clinics across the US for the growing number of veterans experiencing long-term sequelae after acute COVID-19 infection. Lindheimer et al saw a critical need to establish and disseminate clinical pathways based on the knowledge and experience gained in the 22 clinics. The intent of the clinical pathways was to guide primary care clinicians who care for patients experiencing dyspnea and/or cough during PCS.
In addition, you can read about the NGS Institute, a trusted resource for curated, practical information on biomarker and next-generation sequencing testing, on page 30. Also be sure to check out the Advanced Non-Melanoma Skin Cancers Visiting Experts Program from the ACCC (page 32), read an excerpt from the Cancer Care Business Breakthroughs video (page 12), and catch up on the latest online interviews (page 11).
As always, let us know any comments, questions, or suggestions you may have. And if you’d like to submit your data for publication, please visit jcponline.com.
