Forecasts of worldwide drug sales decreased in 2017 amid growing price scrutiny on prescription medications, according to an Evaluate Pharma report.
For the report, Evaluate Pharma gathered and assessed analysts' predictions of global drug sales to develop consensus forecasts of the future drug market.
Worldwide pharmaceutical sales are now expected to peak at $1.06 trillion in 2022, compared to $1.12 trillion predicted one year ago, according to the report. The decrease marks the first time in a decade total drug sale predictions failed to surpass the previous year's forecast.
"The continued political and public scrutiny over pricing of both the industry's new and old drugs is not going to go away, and we are starting to feel the impact now," Antonio Iervolino, Evaluate Pharma's head of forecasting, told Reuters.
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