Global cancer spending tops $100 billion in 2014 – report

‘The global market for oncology drugs increased 10.3 percent last year and may reach $147 billion by 2018, according to IMS Health. Spending is rising due to better treatments and higher survival rates.

Global spending on cancer medication in 2014 rose to $100 billion, up from $75 billion four years ago, according to the Global Oncology Trend Report 2015, released Tuesday by the IMS Institute for Healthcare Informatics.

“The increased prevalence of most cancers, earlier treatment initiation, new medicines and improved outcomes are all contributing to the greater demand for oncology therapeutics around the world,” said Murray Aitken, IMS Health senior vice president and executive director of the IMS Institute for Healthcare Informatics.’

Read more: Global cancer spending tops $100 billion in 2014 – report