Global healthcare landscape remains positive
The outlook for growth in the healthcare market is positive, with global healthcare spending on drugs expected to increase to $1.4 trillion by 20201.
The macro trends in healthcare demand are seeing increasing number of molecules being developed, with an increase in speciality products requiring customised strategies for patient engagement. It is estimated that 225 totally new drugs will come to market by 20201.
Smaller patient populations, orphan drugs, rare diseases, continued scientific and medical innovation and greater consumer information and empowerment are all driving growth and change in the industry.
In addition to the macro growth in the market, there is a trend for increased outsourcing by pharmaceutical companies. Specifically, they are looking to outsource with fewer partners who have global reach, as both large and speciality pharmaceutical companies look for increased flexibility, consistency and quality. This is where UDG Healthcare is well positioned to deliver solutions.
Market access and procurement of products and services are also increasingly important and these trends point to a positive environment to continue to grow our business:
- Volume of medicine used globally will reach 4.5 trillion doses by 20201;
- New drug launches remained at high levels and are forecast to increase 22% for the period 2016 to 2020 on the previous five years1;
- Spending on speciality medicines continues to increase; and
- Clients are outsourcing more with fewer partners internationally.
1. Global Medicines use in 2020, IMS Institute for Healthcare Informatics, November 2015.
2. Medicines use and spending in the US. A Review of 2015 and outlook to 2020, IMS Institute for Healthcare Informatics, April 2016.