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Scale Of Off-Patent Savings Ramps Up As Impact Of Biologic LOEs Increases

Half Of Immunology Market Will Face Losses Of Exclusivity

 
• By Chloe Kent

IQVIA’s latest Global Use of Medicines report demonstrates the impact generics and biosimilars are set to have on global pharmaceutical spending, with losses of exclusivity expected to dampen spending growth over the next five years.

Medicine capsules on top of money
IQVIA anticipates the scale of off-patent savings to increase going forward • Source: Shutterstock

Global spending on medicines over the next five years will be offset by losses of exclusivity and the lower costs of generics and biosimilars, according IQVIA’s 2023 Global Use of Medicines report. COVID-19 vaccines and innovative launches are expected to be the key drivers of global medicines spending.

The global medicines market is expected to grow at compound annual growth rate of 3% to 6% until 2027

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