Some of the key projections for the global use of medicines up to 2028, drawn from IQVIA's report, The Global Use of Medicines 2024: Outlook to 2028. The report states that growth outlook has been raised by 2 percentage points despite lower expectations for COVID-19 vaccines and therapeutics. This increase in growth outlook is driven by more patients getting treated with better medicines, especially in immunology, endocrinology, and oncology.

The global use of medicines increased by 414 billion daily doses over the past five years, and is expected to grow another 400 billion by 2028, with highest volume growth expected in China, India and Asia-Pacific.  

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The relative amount of medicine spending has been shifting over time with some fast-growing countries becoming more important to the total level of global spending. Volume growth, often of older generic medicines, has been the primary driver of growth in many Pharmerging markets, although the more recent rising rankings ahead of leading developed markets are also driven by shifts in the mix of spending.  

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Global spending on biotech drugs is expected to reach USD 892Bn by 2028, about 39% of global medicine spending.  

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In terms of therapeutic areas, oncology and obesity are leading growth while immunology is slowing due to biosimilar competition; many other classes are growing in mid-single digits  

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