Why is the U.S. Spending More Than $1 Trillion for Drugs?

by Jonathan

U.S. Spending More Than $1 Trillion for Drugs

The global market for pharmaceuticals was worth more than $693 billion in 2007. It is expected to increase to over $737 billion in 2008 and will top $1.0 trillion in 2013.

The market is divided into branded prescription drugs, generic prescription drugs and over-the-counter products. Branded prescription drugs have the largest share of the market, with more than $525 billion in sales during 2007.

The second largest segment, generic prescription drugs, will experience the highest growth rate over the next few years. It was worth $78.5 billion in 2007 and will nearly double, to almost $152 billion, by the end of 2013.

Source:  PharmaLive.com

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