Retail Prescription Drug Spending Growth May Slow Down in Next Decade
Retail prescription drug spending is expected to grow moderately throughout the next decade. But per capita out-of-pocket retail drug costs may decrease starting in 2024 due to the Inflation Reduction Act (IRA), a recent Peterson-KFF Health System Tracker study predicted.
Using National Health Expenditures Accounts historical and projection data from 2021, researchers found that per capita spending on retail prescription drugs has skyrocketed over the past three decades— from $101 in 1960 to $1,147 in 2021. Meanwhile, out-of-pocket prescription drug spending has been declining since the mid-2000s and is anticipated to drop by 8% by 2031.
© 2024 MMIT
Related Posts
October
27
Prescription Drug Spending Increases 16% Over Five Years, Driven by Rising Drug Prices
READ MORE
September
14
Legal Challenges to Drug Price Negotiations Could Have Broad Implications
READ MORE
February
23