A detailed analysis of the major trends in prescription drug spending
It is an undeniable fact that the prescription drug prices have been rising dramatically since more than two decades now. One of the most contentious issues that have taken the prescription drug market by storm is the ever-increasing cost of prescription drugs. Both consumers and policymakers continue to stay affected by the issue and need measures to control the prescription drug spending. Studies reveal that prescription drug spending is estimated to grow at an average of 6.3% per year from 2016 to 2025. This article highlights the key trends in prescription drug spending in the nation. Since the 1980s, the spending on prescription drugs has increased considerably in the U.S. The growth continued from 1980s to the early 2000s, followed by slow growth for a couple of years. Afterward, from 2014 the country saw a continuing rise in the prescription drugs spending. $3,337 billion were spent in the U.S. in 2016 on national health expenditures which accounts to about 17.9 ...