Country comparison in spending on medicine 2023

In 2023, the United States is projected to spend between 625 and 655 billion U.S. dollars on medicine. Estimates for the United States are much higher than those of other countries on the list. For the same year, Germany’s expected expenditure estimates were between 65 and 69 billion U.S. dollars.

China

China stood in second place in terms of projected medicine expenditures for 2023, with estimates between 140 and 170 billion U.S. billion dollars. The country was also the world’s second-largest pharmaceutical market in 2018, accounting for roughly 11 percent of the world’s total pharmaceutical sales numbers. In the same year, people in China spent the most on non-original branded pharmaceutical products: an estimated 54 billion U.S. dollars. Roughly 30 billion U.S. dollars were spent on original brands.

Sinopharm Group

Sinopharm Group Co., Ltd. is a Chinese pharmaceutical and biotech company, founded in 2003, and is one of the largest companies in the industry today. In 2019, the corporation generated roughly 50 billion U.S. dollars in revenue, placing them between Novartis AG and Merck & Co that year.