JOURNAL ARTICLE

National trends in prescription drug expenditures and projections for 2024.

  • Published In: American Journal of Health-System Pharmacy, 2024, v. 81, n. 14. P. 583 1 of 3

  • Database: Academic Search Ultimate 2 of 3

  • Authored By: Tichy, Eric M; Hoffman, James M; Tadrous, Mina; Rim, Matthew H; Cuellar, Sandra; Clark, John S; Newell, Mary Kate; Schumock, Glen T 3 of 3

Abstract

The article focuses on historical and projected pharmaceutical expenditures in the United States, emphasizing the nonfederal hospital and clinic sectors. In 2023, total US prescription drug spending rose 13.6% to $722.5 billion, driven primarily by increased utilization, new drug introductions, and price changes, with clinics experiencing a 15.0% increase and nonfederal hospitals a 1.1% decrease. Specialty drugs, cancer therapies, and endocrine treatments—particularly glucagon-like peptide 1 (GLP-1) inhibitors like semaglutide—were major contributors to spending growth. For 2024, overall drug expenditures are forecasted to increase by 10% to 12%, with clinics expected to see an 11% to 13% rise and nonfederal hospitals a modest 0% to 2% growth, influenced by factors such as new drug approvals, biosimilar competition, and public policies including the Inflation Reduction Act.

Additional Information

  • Source:American Journal of Health-System Pharmacy. 2024/07, Vol. 81, Issue 14, p583
  • Document Type:Article
  • Subject Area:Health and Medicine
  • Publication Date:2024
  • ISSN:1079-2082
  • DOI:10.1093/ajhp/zxae105
  • Accession Number:178359130
  • Copyright Statement:Copyright of American Journal of Health-System Pharmacy is the property of Oxford University Press / USA and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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