Global spending on medicine continues to grow. In 2021, approximately 1.42 trillion U.S. dollars had been spent on medicines, up from just 887 billion U.S. dollars in 2010. That number is expected to increase to nearly 1.8 trillion by the year 2026. Spending on medicines has increased everywhere globally. However, the United States takes the lead in total medicines spending globally and is expected to remain the top country for medicines spending through 2026.
Global pharmaceutical industry
Globally, the pharmaceutical industry is a growing industry fueled by aging populations and new drugs to treat rare and specialty diseases. Regionally, the pharmaceutical industry generates most of its revenues in the North American and European markets. Within all markets globally the top therapeutic class is oncology, followed by antidiabetics.
Top pharmaceutical companies
There are several large pharma companies that participate in the global pharmaceutical industry. As of 2021, U.S.-based pharmaceutical company Johnson & Johnson was the top pharmaceutical company, followed by Swiss company Roche, based on market capitalization. Among pharmaceutical companies, some have produced more new drugs than others. The U.S. and Europe are responsible for the largest number of new pharmaceutical substances from 2016 to 2020.
Global spending on medicines in 2010, 2021, and a forecast for 2026
(in billion U.S. dollars)
Values based on invoice spending.
* Figures for 2010 were taken from a previous report by the same source.
** Value for 2026 is an average of the high and low forecast values (1,750 bn and 1,780 bn).
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IQVIA. (December 9, 2021). Global spending on medicines in 2010, 2021, and a forecast for 2026 (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 09, 2022, from https://www.statista.com/statistics/280572/medicine-spending-worldwide/
IQVIA. "Global spending on medicines in 2010, 2021, and a forecast for 2026 (in billion U.S. dollars)." Chart. December 9, 2021. Statista. Accessed August 09, 2022. https://www.statista.com/statistics/280572/medicine-spending-worldwide/
IQVIA. (2021). Global spending on medicines in 2010, 2021, and a forecast for 2026 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 09, 2022. https://www.statista.com/statistics/280572/medicine-spending-worldwide/
IQVIA. "Global Spending on Medicines in 2010, 2021, and a Forecast for 2026 (in Billion U.S. Dollars)." Statista, Statista Inc., 9 Dec 2021, https://www.statista.com/statistics/280572/medicine-spending-worldwide/
IQVIA, Global spending on medicines in 2010, 2021, and a forecast for 2026 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/280572/medicine-spending-worldwide/ (last visited August 09, 2022)