Are specialty products a driver of prescription drug spending?
Specialty drugs are the primary driver of prescription drug spending, a trend that is expected to continue in future too. The new forecast of Vizient Drug Price Forecast reveals that although drug costs are expected to rise by 7.35%, specialty pharmacies could be a help in bringing down the spending even further.
According to the report, following are the top 8 specialty drugs categories that are estimated to increase in 2018.
- Antineoplastic Drugs: These drugs are used to treat patients having cancer.The report suggests that their cost will increase by 4.96% this year.
- Disease-Modifying Anti-Rheumatic Drugs (DMARDs): Disease-modifying drugs reduce the progression of rheumatoid by acting on the immune system. The reports say that these will be one of the largest drivers of cost and is projected to increase by 11.95%.
- Immunomodulatory Agents: These drugs are used to treat patients who are suffering from serious conditions such as Crohn’s disease and multiple sclerosis. According to the study, the cost of these drugs is projected to rise by 8.93% in 2018.
- Immune Globulin: According to the study, this class of drug is estimated to increase only by 3.94% in 2018.
- Hematopoietic Drugs: This class of drugs is a crucial component to treat adverse effects caused from chemotherapy and other conditions. The report suggests that costs of hematopoietic drugs will be projected by 7.09% in 2018.
- Vaccines: The cost of vaccines that are used to prevent human papillomavirus and pneumococcal disease will rise by 5.32% during 2018.
- Diabetes: With growing cases of diabetes all over the world, access to treatment is pivotal. According to the report the cost of diabetes drugs will rise by 3.62%