The Growing Role of Specialty Drug in Healthcare
Healthcare is already the largest industry in the United States at $3.5T in 2017 – reaching 19% of our Gross Domestic Product (GDP), with total social impact in excess of $4.9T. The Center for Medicare and Medicaid Services (CMS) forecasts that annual healthcare spend will reach $5.5T by 2026 and account for almost one dollar out of every five spent in this country. The latest projection of trends for 2019 indicates an annual growth of 6%. According to CMS, the average annual rate of healthcare spending growth is projected to be one percentage point faster than our annual GDP growth rate through 2022.