Compiled by Cari Kraft, Jacobs Management Group, Inc.
US Drug Spending is almost ½ a trillion.
ASPE estimates that prescription drug spending in the United States was about $457 billion in 2015, or 16.7 percent of overall personal health care services. Of that $457 billion, $328 billion (71.9 percent) was for retail drugs and $128 billion (28.1 percent) was for non-retail drugs.
Source: Department of Health and Human Services, “Observations on Trends in Prescription Drug Spending, March, 2016
MSL Teams are growing.
MSL teams are growing with 36% of surveyed companies planning to increase the size of their MSL teams.
Source: Cutting Edge, “Medical Affairs Management: Igniting Innovative Global Strategies”, 2015
Increase in Total Revenue for the Top 50 biotech companies.
Over $10B in revenue was added as the top 50 crossed over $68B in 2015.
Source: Healthcare Sales and Marketing “Top 50 Biotech Companies”, www.hsandm.com, 3/15/2016
The Medical Device market rings in at $45B.
The Medical Device market has an annual growth of 5.8%, with 45B spread over 863 businesses employing 87,742.
Source: IBISWorld, Medical Device Manufacturing in the US: Market Research Report, January 2016
Top Sales Reps earn over $200,000.
Across the medical device, biotech, pharmaceutical and healthcare vendor industries, top sales reps earn an average of $202K, with first year reps earning an average total of $119K. Top sales reps’ and first year reps’ base salaries differ only by an average of 25k, the rest comes from commissions.
Source: Jacobs Management Group Annual Compensation and Hiring Survey, January, 2016
15.9 million people are eligible for coverage.
15.9 million, 49% of the 32.3 million nonelderly uninsured, are eligible for coverage under the ACA as of mid-2015.
Source: Health Tech Zone, “New Estimates of Eligibility for ACA Coverage among the Uninsured?”, 01/22/2016
60% of patients will go video.
60% of patients are willing to use their mobile device to have a video visit with a physician.
Source: PwC “HRI Consumer Survey, PwC, 2015”, December, 2015