Nowadays, when we understand the value of our health much better with the pandemic, health expenditures are increasing. According to the 2021 report of the World Health Organization, health expenditures across Europe showed a faster growth rate than the economy. As a result, the share of health expenditures in GDP increased from 6.4% to 7.5%. In the pre-COVID-19 era, out-of-pocket payments grew faster than public health spending in most low-middle-income countries in Europe.
Some highlights from around the globe:
- The US pharmaceutical market growth 2.0% to USD 524 billion in 2020 and 7.0% in 2021.
- For the EU5 markets, health spend declined 1.6% to USD1.3 trillion in 2020 and growth 3.4% in 2021.
- The Japanese pharma market gained 1.0% to USD65 billion in 2020 and fall 0.5% in 2021.
- Pharmaceutical sales in the BRIC-MT markets declined 2.9% in 2020 to USD280 billion and growth 11.3% in 2021.
