ResourceBlog Article: Fast Facts and Statistics: Prescription Drug Trends in the United States

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Saturday, 2nd June 2007

Fast Facts and Statistics: Prescription Drug Trends in the United States

Fast Facts: Prescription Drug Trends in the United States
5 pages; PDF.

This updated fact sheet provides trend information about prescription drug expenditures and coverage, key factors that contribute to rising prescription spending, and efforts to contain rising drug costs.

The fact sheet shows that spending in the US for prescription drugs was $200.7 billion in 2005. In 2006, the share of prescription drug expenses paid by public funds is projected to rise from 27% to 39%, partly because of Medicare’s new Part D prescription drug program. As a result, private health insurance's share is projected to fall from 47% to 42%, and consumer out-of-pocket payments from 25% to 19%. Medicare's share of public funds is projected to rise from 7% to 55%.

Generic prescription sales grew by 22% and generic prescriptions dispensed grew by 13% from 2005 to 2006. In 2006, 20% of prescription drug sales and 63% of prescriptions dispensed were generic medications. The average brand name prescription price was over 3 times the average generic price in 2006 ($111.02 vs. $32.23).

Source: Kaiser Family Foundation

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