Recently, the IMS Health Organization released a report: “Global Drug Use in 2020: Prospects and Recommendations.”
Many New Drugs Expected in the Next 5 Years
According to the report, in the next five years, 225 new drugs will be invented and introduced for use, primarily in developed countries.
Some of these drugs are expected to change the treatment landscape for known cancers, cardiovascular diseases, hepatitis C, respiratory diseases, muscle disorders, neglected tropical diseases, and immune disorders.
Illustrative image. (Source: nai500.com).
Along with these new drugs, technology is expected to have a significant impact on patient care in the next five years. This includes the application of technology to enhance cancer diagnostics, health monitoring, and helping patients adhere to their scheduled visits as recommended by their doctors.
IMS predicts that most patients with chronic diseases will have access to smartphone applications and wearable devices to monitor disease symptoms, physical activity, and the effects of their treatments.
Future technology is also anticipated to assist insurance companies in monitoring patients’ health and the expenses incurred for their treatments.
According to IMS, global spending on pharmaceuticals is expected to increase by 3-6% each year over the next five years.
The organization forecasts that global pharmaceutical costs will rise approximately 30% from the current $1 trillion to $1.3 trillion by 2020, due to the emergence of expensive new drugs, rising prices, an aging population, and increased use of affordable generic drugs in developing countries.
