Large pharmaceutical companies say allowing Medicare to negotiate lower drug prices will stifle innovation in drug development. Read a new op-ed in Harvard Business Review to find out why that’s not so.

Jun 05, 2020

Percentage of GDP Spent on Health Care

Selected Health & System Statistics

Source: OECD 2019, WHO 2019.

Data from 2017 (or nearest year available).

All Countries

Australia Flag — Australia

9.2%

Brazil Flag — Brazil

9.2%

Canada Flag — Canada

10.7%

China Flag — China

5.0%

Denmark Flag — Denmark

10.1%

England Flag — England

9.6%

France Flag — France

11.3%

Germany Flag — Germany

11.2%

India Flag — India

3.6%

Israel

7.4%

Italy Flag — Italy

8.8%

Japan

10.9%

Netherlands Flag — Netherlands

10.1%

New Zealand Flag — New Zealand

9.1%

Norway Flag — Norway

10.4%

Singapore Flag — Singapore

4.50%

Sweden Flag — Sweden

11.0%

Switzerland Flag — Switzerland

12.3%

Taiwan Flag — Taiwan

n/a

United States Flag — United States

17.1%