Private Drug Plan Drug Cost Forecast released (2017-2019)
Plan sponsors who provide drug plan benefits to employees recognize the value and importance of workplace health and productivity. Sponsors strive to ensure the sustainability of these benefit plans. Innovative Medicines Canada repeated the forecast to identify the market dynamics impacting private drug plan drug cost growth. To bring strong research analytics to the private payer market, the association once again engaged IQVIA (formerly IMS Brogan), a global leader in healthcare market insights, to conduct a quantitative, transparent, and robust assumption-based forecast of private drug plan drug costs for 2017-2019.
There are numerous market events which could potentially impact future drug costs in Canada. Several were considered in this forecast to determine whether they could have a significant incremental impact on the baseline from 2017 to 2019.
The Private Drug Plan Drug Cost Forecast indicates the market will experience a 4.9 per cent compound annual growth rate from 2017-2019, which is slightly lower than the estimated 5.9 per cent growth over 2016-2018.