Believe it or not, the US pharmaceutical market will reach US $550 billion by 2020

Source: Biovalley March 20, 2015, according to statistics, the market share of us medicine in 2014 was US $395 billion Global data research and consulting is very optimistic about the U.S pharmaceutical market It is estimated that in five years, 2020, the number will climb to 548 billion dollars Global data's market analysis report shows that the U.S pharmaceutical market will grow at an average annual rate of 5.6% What are the factors driving its rapid growth? It can be summarized as follows: more and more health care expenditure, aging population structure, prevalence of chronic diseases such as diabetes and obesity, more convenient reimbursement of medical expenditure, and the patient protection and Public Health Care Act (ppaca) issued in 2010 There are two points to sum up: the increasingly perfect medical security system and the highly efficient and reliable FDA "The impact of the patient protection and mass Care Act and its annex, the regulation on mediation of medical and educational disputes, on the American public is long-term and profound, as is the case for the pharmaceutical industry," said Joshua owide, Minister of dynamic research in the global data healthcare industry The promulgation of ppaca means that medical insurance is more popular, and more and more people are getting more subsidies for new or changed insurance schemes In 2013, the market for prescription drugs was only $262 billion, which increased to $275.9 billion in 2014 According to statistics, about 32 million citizens are newly insured, which will generate at least $115 billion of medical consumption in 10 years " In addition, FDA's "efficient, transparent and structured regulatory system" also promotes the rapid approval and quality assurance of new drugs, which is one of the reasons why the pharmaceutical market is so prosperous FDA has taken a series of measures to benefit pharmaceutical manufacturers The "green channel" and "special channel for major breakthroughs" set up by FDA have accelerated the approval of new drugs and made some breakthrough drugs go on the market faster In 2014, FDA approved 41 new drugs, 17 of which are for rare diseases At the same time, the perfect patent system in the United States has also promoted the transformation of pharmaceutical manufacturers to research-oriented enterprises, which has also accelerated the development of new drugs