US Pharma Market to Reach $550B by 2020
Thursday, March 19, 2015
The company's latest report finds that this is a Compound Annual Growth Rate (CAGR) of 5.6%, and will be driven by a number of factors.
These include increased healthcare expenditure, an ageing population, the rising prevalence of chronic lifestyle diseases such as diabetes and obesity, universal and easy access to reimbursement for pharmaceutical product costs, and the 2010 Patient Protection and Affordable Care Act (PPACA).
Joshua Owide, GlobalData's director of healthcare industry dynamics, explained that the PPACA and its amendment, the Health Care and Education Reconciliation Act, continue to have a “substantial impact” on US citizens, and the country's pharmaceutical industry.