The Pharmaceutical Market: Australia

Additional Information

THE PHARMACEUTICAL MARKET: AUSTRALIA - REVIEW

The macroenvironment for the Australian pharmaceutical market is attractive. Economically, the Economist Intelligence Unit (EIU) estimates that Australia’s GDP will be the fifth largest in the Asia Pacific region in 2017. In terms of GDP per capita, Australia will rank second in the Asia Pacific region. Legally, a large number of branded drugs face patent expiry in the immediate future, and this presents opportunities for the generic sector. The Pharmaceutical Benefits Scheme (PBS) may seek further use of generics in the future in an attempt to keep prices low, in order to balance the use of new, more expensive drugs. Demographically, the EIU projects that the population of Australia will be the 12th largest in the Asia Pacific region in 2017. The elderly population is expected to be the third highest in percentage terms in Asia Pacific region in 2017.

The pharmaceutical market is expected to grow by a low one-digit CAGR in US dollar terms and a moderate one-digit CAGR in local terms between 2012 and 2017. Australia will be the fifth largest pharmaceutical market in the Asia Pacific region in 2017. In per capita terms, Australia is projected to have the second highest rate in the Asia Pacific region in 2017. The pharmaceutical market as a percentage of health expenditure is expected to increase very slightly. The market is highly reliant on imported pharmaceuticals, the vast majority in retail form. This has resulted in a balance of pharmaceutical trade that remains negative, most of which is accountable to retail medicaments.

In 2012, Espicom estimates the Australian generic market to be worth about 10% of the pharmaceutical market by value. In volume terms, it is equal to around 30%. Espicom projects that the generic market will continue to grow well in volume terms, but in value terms will not keep pace with the branded market. On the one hand, patent expiries and government promotion of generics will boost consumption. This will be balanced, however, by ongoing PBS price cuts for generics, and greater uptake for newer, more expensive branded medicines. Reforms to the pricing system since 2005, whereby any new generic entrant to the market must offer a price cut of at least 12.5% over existing products, will serve to lower prices, but this may only serve to make the market less attractive to generic manufacturers.

ENHANCED STRATEGIC INTELLIGENCE

Espicom's highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:

Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
Specialised intelligence on OTCs, generics, biologics and biosimilars.
Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.

HEALTHCARE STATISTICS

A comprehensive tabula review, comprising demographics, epidemiology, health expenditure, hospital and primary care infrastructure & services and healthcare personnel, is additionally included.

Related Pages:

Pharmaceutical Market Bangladesh

Pharmaceutical Market Vietnam

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HIGHLY DETAILED REPORT CONTENT

EXECUTIVE SUMMARY
Including Espicom's at a glance strategic analysis and key data projections

MACROENVIRONMENT
Political, economic, legal and demographic analysis

EPIDEMIOLOGY
Disease burden and prevalence

HEALTHCARE
Organisation, expenditure, infrastructure, services and workforce

REGULATORY AFFAIRS
Regulatory developments and marketing registration/authorisation

PRICING & REIMBURSEMENT

DISTRIBUTION CHANNELS

MARKET ANALYSIS
Projections, product development, manufacturing and trade

COMPETITION
Trade associations, trade fairs, company intelligence and competitive strategies

OTC PHARMACEUTICALS

GENERIC PHARMACEUTICALS

BIOLOGICS & BIOSIMILARS

OPPORTUNITIES & CHALLENGES
Espicom's unique strategic analysis

DIRECTORY

METHODOLOGY & SOURCES