Global cancer drug spending hits $100 billion in 2014

IMS Health reports that global spending on cancer drugs topped $100 billion last year, driven in large part by costly newer treatments in developed markets. That figure is up about 10% from 2013 and an increase from $75 billion 5 years ago.

IMS Health reports that global spending on cancer drugs topped $100 billion last year, driven in large part by costly newer treatments in developed markets. That figure is up about 10% from 2013 and an increase from $75 billion 5 years ago. According to IMS's Global Oncology Trend Report, worldwide spending on cancer drugs is expected to increase from $117 billion to $147 billion in 2018. "We're in for a period of intense competition among alternative treatments, which is a different dynamic than we've seen in the past where the progress has been a little slower and individual drugs had a little more time," said Murray Aitken, executive director of IMS Institute for Healthcare Informatics, which prepared the report. About 42% of overall spending on cancer drugs was in the United States, followed by Germany, France, Britain, Spain, and Italy.