One of the world’s most lucrative industries, spending on cancer drugs reached an all-time high last year, as it was valued at more than $100 billion. Spending on cancer drugs increased 6.5 percent annually over the past five years and is expected to continue growing at a rate of 8 percent each year through 2018, according to figures provided by the IMS Institute for Healthcare Informatics.
That spending is highly concentrated, as the US and five of Europe’s largest countries account for nearly two-thirds of the entire market.
This means that billions and billions of dollars are secured by Americans being diagnosed with cancer. Continue reading »