PROJECTED INCREASES IN DRUG PRICES BY HEALTHCARE CATEGORIES
3.81%: Overall estimated drug price inflation rate
- 2.94%: Increase for contract products
- 3.88%: Increase for non-contract products
Autoimmune and chronic inflammatory diseases
- 3.10%: Projected inflation rate
- 22.98%: Portion of overall program drug spend
- 50 million: Americans who may have an autoimmune disease
6 of the top 15 medications for total Provista and Vizient pharmacy program spend are in this therapeutic area
Biosimilars
- 0.53%: Projected inflation rate
- 17.52%: Portion of drug spend
- 61 biosimilar agents approved across 19 molecules
Cardiopulmonary diseases
- 3.70%: Projected inflation rate
- 5.08%: Portion of drug spend
Endocrine and metabolic diseases
- 3.81%: Projected inflation rate
- 10.72%: Portion of drug spend
Hematological therapies
- 2.73%: Projected inflation rate
- 8.68%: Portion of drug spend
Infectious diseases
- 3.36%: Projected inflation rate
- 7.22%: Portion of drug spend
Neurology
- 3.80%: Projected inflation rate
- 5.11%: Portion of drug spend
- 1 in 3: People worldwide estimated to develop a neurological disorder during their lifetime
- $1.7 trillion per year: Cost of neurological disorders
Oncology
- 4.18%: Projected inflation rate
- 24.14%: Portion of drug spend
- $187 billion: Spending on oncology in the U.S. by 2028
Pediatrics
- 3.88%: Projected inflation rate
Plasma
- 3.50%: Projected inflation rate
- 4.17%: Portion of drug spend
HEALTHCARE SPENDING ON MEDICATIONS
- $435 billion in 2023: U.S. spending on medications, up 9.9%
- $19 billion: Spending on new brand-name medications in 2023
- $122 billion: Spending on new brand-name medications over the next 5 years
- 3.4 million units: Essential medications to patients through the Novaplus® Enhanced Supply Program—drugs that otherwise would not have been available
4 FACTORS DRIVING DRUG INFLATION RATES
- An increase in specialty and ultra-expensive medications dominating recent new drug approvals
- Additional indications granted for previously approved medications, increasing utilization
- Previously approved products with higher-than-customary price increases
- Payer restrictions influence site of care and class of trade for pharmacy services
Download the Pharmacy Market Outlook.
