Mylan launches 3 generics
Dietary supplement sales expected to be strong at drug stores and pharmacies through 2025
VALLEY COTTAGE, N.Y. — Sales of dietary supplements at pharmacies and drug stores are expected to grow by a robust global compound annual growth rate of 7.6% in terms of value during the 2015-2025 period, according to a new report by Future Market Insights.
The FMI report, entitled “Dietary Supplements Market: Global Industry Analysis and Opportunity Assessment, 2015-2025,” expects the overall global dietary supplements market to register a healthy 7.4% CAGR over the 11-year period, with North America contributing an increase of 7.2% on a CAGR basis. The global dietary supplements market is expected to grow by $252.1 billion from 2015-2025, the report adds.
The greatest source of strength will sports nutrition, a segment that will grow by 8.9% in the dietary supplements market over the forecast period.
The report also states both the vitamins and minerals segment and soft gels/pills segment are expected to “retain” their “dominance through 2025,” and the women’s segment of dietary supplements will be “the major contributor in terms of value in the dietary supplements market over the forecast period.”
The general wellbeing segment is also expected to be solid, with a forecast of CAGR of 6.9% over the forecast period, with general wellbeing and weight loss segments “expected to contribute maximum revenue shares to the global market over the forecast period.”
For more information about the report, click here.
Diabetes No. 1 source of health care spending
WASHINGTON, D.C. — Diabetes was the No. 1 condition regarding health care spending in 2013, reaching $101.4 billion, of which 57.6% was spent on pharmaceuticals, according to a new Journal of American Medical Association investigation.
The research, entitled “US Spending on Personal Health Care and Public Health, 1996-2013,” states spending on health care continues to increase, reaching $2.9 trillion in 2014, or 17% of the U.S. economy. Broken down further, spending on health care was equivalent to more than $9,110 per U.S. resident in 2014, and health care spending increased 5.3% from 2013 to 2014 alone.
Following diabetes, ischemic heart disease ranked No. 2 on the health care spending list in 2013, with estimated spending of $88 billion.
From 1996 to 2013, $30.1 trillion was spent on personal health care, with an annual growth of more than 3% for most age groups. On annual basis in this 18-year period, spending on retail pharmaceuticals increased 5.6%, which only trailed the spending growth rate on emergency care (6.4%).
“Modeled estimates of U.S. spending on personal health care and public health showed substantial increases from 1996 to 2013; with spending on diabetes, ischemic heart disease and low back and neck pain accounting for highest amounts of spending by disease category,” the report, released Dec. 27, concluded. “The rate of change in annual spending varied considerably among different conditions and types of care. This information may have implications for efforts to control U.S. health care spending.”
Spending data varied by age, sex and other demographics. To view the full JAMA report, click here.