Global Medicines Spend to Reach Nearly $1.2Tr in 2016

The IMS Institute for Healthcare Informatics forecasts 5-7 per cent growth in the global market in 2016.

Global spending on medicines is expected to rise from $956 billion in 2011 to almost $1.2 trillion in 2016, a new report suggests.

The IMS Institute for Healthcare Informatics predicts that the global market will improve from three to four per cent growth this year to between five and seven per cent growth in 2016.

This rebound in spending on medicines is likely to be fuelled by a number of factors, including volume increases in emerging markets and a rise in spending in developed nations.

Commenting on the forecasts, Murray Aitken, the institute's executive director, said: "As health systems around the world grapple with macroeconomic pressures and the demand for expanded access and improved o