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Biosimilars can help reduce the high cost of oncology medicines spending1

Oncology innovation is booming, but costly for the healthcare system1,2

US oncology medicines spending continues to rise2

Oncology spending continues to rise. Oncology spending was around $27B in 2013. $57B in 2018. Up to $105B by 2023 with an anticipated growth of 11% to 14% per year*

*Costs through 2018 are based on data reported by the IQVIA Institute for Human Data Science from December 2018. Costs beyond 2018 are projected growth based on a CAGR of 11% to 14% in the next 4 years.2

Biosimilars callout

CAGR=compound annual growth rate; G-CSF=granulocyte colony-stimulating factor.

References: 1. IQVIA Institute for Human Data Science. Global oncology trends 2018: innovation, expansion and disruption. Accessed October 8, 2020. 2. IQVIA Institute for Human Data Science. Global oncology trends 2019: therapeutics, clinical development and health system implications. Accessed October 8, 2020. 3. Socal M, Ballreich J, Chyr L, Anderson G. Biosimilar medications—savings opportunities for large employers. A report for ERIC—the ERISA Industry Committee. Department of Health Policy and Management. John Hopkins Bloomberg School of Public Health. March 2020.