Article

Get a First Look at Prescription Drug Price Projections

May 19, 2023
Pharmacist in front of prescription wall
How much will drug prices increase? Provista has the answer. Predictions are based on expected pharmaceutical purchases by Provista and contracting partner Vizient members from July 1, 2023, through June 30, 2024.
Pharmacist with arms crossed, capsule pills, and pharmacist talking with customer patient

Title Goes Here

Headline Goes Here

INCREASES FOR ALL DRUGS AND SPECIALITY DRUGS

3.78%: Overall predicted inflation rate for all pharmaceuticals
4.33%: Overall predicted inflation rate for specialty drugs

  • 4.25%: Injectables (76.74% of total market)
  • 4.49%: Non-injectables (23.26% of total market)
  • 4.18%: Biologic (73.05% of total market)
  • 4.73%: Non-biologic (26.95% of total market)
PROJECTED INFLATION RATES FOR KEY THERAPEUTIC CLASSES

4.80%: Immunomodulators and biologics (19.74% of drug spend)
4.80%: Pediatrics (19.74% of drug spend)
3.85%: Oncology (23.05% of drug spend)
3.74%: Plasma critical care (4.11% of drug spend)
3.69%: Cardiology (2.70% of drug spend)
3.55%: Infectious diseases (12.55% of drug spend)
2.76%: Diabetes (3.70% of drug spend)

INCREASES IN PHARMACIST BILLING FROM 2018 TO 2021

772%: Clinics
29%: Urgent care
28%: Ambulatory surgery centers 
25%: Hospital outpatient departments

SPECIALITY PHARMACY TRENDS

315%: Specialty pharmacies growth between 2015 and 2021
85%: Estimated percent of integrated delivery networks and health systems with their own specialty pharmacy program in 2022, up from 70% in 2019
55%: Specialty medications percentage of total pharmaceutical spend in 2021, up from 28% in 2011

LARGEST DRUG PERCENTAGES ON PROVISTA’S SPECIALITY PHARMACY LIST

32.5%: Oncology therapies (195 drugs)
13.8%: Infectious disease (83 drugs)
11.8%: Neurology (71 drugs)

HOW SPECIALTY MEDICATIONS ARE DISTRIBUTED

65%: Limited distribution channel
56%: Orphan drug status
35%: Biologics

Source: Pharmacy Market Outlook for Winter 2023

 

Ready to Get Started?

Take the next step to start saving.

Become a Member