Compiled by Cari Kraft, Jacobs Management Group, Inc.
$73.93 Implantable medical devices market size in 2018
In a new report, Transparency Market Research has predicted that the implantable medical devices market will reach $73.9B by 2018, a CAGR expansion of 8.0% from 2012-2018. The market was $43.1B in 2011.
Source: Transparency Market Research, “Implantable Medical Devices Market – U.S. Industry Analysis, Size, Share, Trends, Growth And Forecast 2012-2018”
1,826 Fewer pain med doses prescribed in states with medical marijuana laws
Prescriptions of pain, anxiety, nausea and other medications have declined significantly in states where medical marijuana is legal. In a three year period, in the 17 states with a medical-marijuana law, prescriptions for painkillers fell by 1,826 doses, for anxiety by 562 doses, for nausea 541 doses, and declined for psychosis, seizures, sleep disorders and depression as well.
Source: Bradford and Bradford, reported in Health Affairs, July 2016
39% Share that brand manufacturers realize from gross drug expenditures
Berkeley Research Group estimates that brand manufacturers get 39% of the money made on sales of their drugs. Of the rest, 42 percent goes to non-manufacturer entities such as supply chain companies, and others who realize rebates, discounts and fees.
Source: Berkeley Research Group, “The Pharmaceutical Supply Chain: Gross Drug Expenditures Realized by Stakeholders,” 2017
36% Percent of global clinical trials conducted in U.S.
As of January 2017, over 85,000 clinical trials were being conducted in the U.S., about 36% of the world total of more than 235,000.
Source: ClinicalTrials.gov, a service of the National Institutes of Health
23 MILLION Number of new cancer cases anticipated by 2037
While cancer is the focus of much research and many therapies, with over 70 new drugs launched in the last five years, it’s not expected to slow down in the near future. Currently cancer is among the leading killers worldwide, with over 14 million cases in 2012 (the latest year for which statistics are available). But the World Health Organization predicts that this will rise about 70% over the next two decades.
Source: World Health Organization, 2016
12 YEARS Time to get a drug from lab to market
Ephicacy Lifescience Analytics says that it takes an average of 12 years and $350M to get a drug from patent filing to sales. This includes an average of 3.5 years of initial tests before the FDA will allow testing on humans. Patents are granted for 20 years, starting at the time of filing. That means companies typically have just eight years left to realize the major return on investment. Only one in 1000 of the compounds that start in the lab will ever be tested on humans.
Source: Ephicacy Lifescience Analytics, in BioSpectrum, January 2017
$53,00 Monthly cost of an open sales position
Leaving an open sales position costs the average company over $53,000. The cost of an open marketing position is a $37,900. For other industry salary statistics, see our Salary Survey in this issue.
Source: Jacobs Management Group Compensation and Hiring Survey 2016