Here are five things to know about cancer drug spending in the U.S.:
- The U.S.’ $99 billion spending on cancer drugs in 2023 represented 45% of global cancer drug spending.
- Cancer drug spending in the U.S. is expected to increase to $180 billion by 2028.
- The increased spending can be attributed to high launch prices of new drugs and continued price increases of existing drugs, according to an analysis published Oct. 4 in Nature Reviews Clinical Oncology.
- The average cancer drug price increased 94% between 2005 and 2023, according to a study published Oct. 19 in PharmacoEconomics.
- Researchers from the PharmacoEconomics study found no association between a cancer drug’s price increase and patient survival rates.
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