The Latest Australian Pharmaceutical Industry Statistics Explained
The Australian pharmaceutical market is predicted to rise from $22.7 billion in 2016 to around $25.2 billion by 2021.
The statistic indicates that the Australian pharmaceutical market is expected to experience growth over a five-year period, increasing from $22.7 billion in 2016 to approximately $25.2 billion by 2021. This represents a projected compound annual growth rate (CAGR) over the period. The forecasted rise suggests a positive trend in the demand and consumption of pharmaceutical products within Australia, potentially driven by factors such as population growth, aging demographics, advancements in healthcare technologies, and increasing prevalence of chronic diseases. This growth projection may have implications for various stakeholders in the pharmaceutical industry, including manufacturers, healthcare providers, policymakers, and consumers.
The industry workforce comprises around 23,000 people.
The statistic “The industry workforce comprises around 23,000 people” indicates the total number of individuals employed within a particular industry. This figure represents the collective workforce involved in various roles and functions within that industry. It provides a quantitative measure of the labor force that contributes to the production, operations, and growth of the industry. Understanding the size of the workforce can offer insights into the scale of operations, economic significance, and employment opportunities within the industry. This statistic can also be used for comparison purposes, benchmarking against other industries or historical trends to assess changes in workforce size over time.
Direct employment in the pharmaceutical industry in 2019 was 30,000 people.
The statistic that direct employment in the pharmaceutical industry in 2019 was 30,000 people indicates the total number of individuals who were employed by pharmaceutical companies in roles directly related to the industry, such as research and development, manufacturing, sales, marketing, and regulatory affairs. This figure serves as a measure of the industry’s workforce size and its contribution to job creation. It is an important indicator for policymakers, researchers, and industry stakeholders to assess the economic impact and growth potential of the pharmaceutical sector, as well as to monitor trends in employment patterns over time.
In 2020, the Australian pharmaceutical industry was valued at about 31.1 billion Australian dollars.
The statistic states that in the year 2020, the pharmaceutical industry in Australia had a total estimated value of approximately 31.1 billion Australian dollars. This figure signifies the economic significance and size of the pharmaceutical sector within the country during that specific year, highlighting its substantial contribution to the overall economy. The valuation reflects the combined value of pharmaceutical products, services, research, and development activities within the industry in Australia. This statistic provides insight into the industry’s financial impact, growth potential, and importance in supporting healthcare delivery and innovation within the country.
The industry exported $4 billion of pharmaceutical products in 2015-16.
The statistic “The industry exported $4 billion of pharmaceutical products in 2015-16” represents the total value of pharmaceutical products that were sold to foreign markets by companies within the industry during the fiscal year 2015-16. This figure is indicative of the industry’s global reach and trading activities, highlighting its significant contribution to international trade and the economy. Exporting pharmaceutical products can boost revenue and profitability for companies, as well as enhance their reputation and competitiveness in the global marketplace. The $4 billion value also serves as a key indicator of the industry’s performance and growth in international markets during that specific period.
Pharmaceutical manufacturing in Australia generates around $11 billion in revenue per year.
The statistic that pharmaceutical manufacturing in Australia generates around $11 billion in revenue per year indicates the significant economic contribution of the pharmaceutical industry to the Australian economy. This figure reflects the total sales value of pharmaceutical products manufactured within the country, encompassing a wide range of prescription drugs, over-the-counter medications, and other health-related products. The revenue generated not only indicates the size and importance of the pharmaceutical manufacturing sector in Australia but also highlights its role in providing essential healthcare products to the population. Additionally, the financial impact extends beyond revenue generation to include job creation, innovation, and contributions to advancements in healthcare research and development within the country.
Pharmaceutical and medicinal product exports from Australia reached $5.9 billion during 2019.
The statistic reports that in 2019, Australia exported pharmaceutical and medicinal products worth a total of $5.9 billion. This figure represents the value of goods in this industry that were sold to international markets during that year. The sizeable amount of $5.9 billion indicates that the Australian pharmaceutical and medicinal product sector plays a significant role in the country’s economy and global trade. This statistic may reflect a strong demand for Australian-made pharmaceuticals and medicinal products, as well as the competitiveness and capability of the country’s pharmaceutical industry in meeting international standards and market requirements.
Mental health drugs have a 17.8% market share, the highest among all pharmaceuticals in Australia.
The statistic that mental health drugs have a 17.8% market share, the highest among all pharmaceuticals in Australia, indicates the significant prevalence and demand for medications specifically focused on treating mental health conditions within the Australian pharmaceutical market. This high market share suggests that a substantial portion of pharmaceutical sales in Australia are related to mental health drugs, highlighting the importance and recognition of mental health issues in the country. The data implies a growing need for these medications and potentially reflects an increase in awareness and diagnosis of mental health disorders in Australia, prompting pharmaceutical companies to cater to this demand with a wide range of mental health drugs available for treatment.
The pharmaceutical industry contributes around 1.5% to the Australian GDP.
The statistic that the pharmaceutical industry contributes around 1.5% to the Australian Gross Domestic Product (GDP) indicates the economic significance of this sector within the country. This means that for every $100 of economic output in Australia, $1.50 is directly attributed to pharmaceutical activities including the development, manufacturing, and distribution of drugs and medical products. A high contribution from the pharmaceutical industry suggests a vital role in generating revenue, providing employment opportunities, and potentially driving innovation and research within the healthcare sector. Understanding the industry’s economic impact is crucial for policymakers, investors, and stakeholders to make informed decisions regarding investments, regulations, and future growth prospects.
The annual growth of the pharmaceutical sector in Australia was 1.7% from 2015 to 2020.
This statistic indicates that the pharmaceutical sector in Australia experienced an average annual growth rate of 1.7% over the five-year period from 2015 to 2020. This growth rate suggests a relatively gradual and steady expansion of the industry during that time frame. The consistent positive growth indicates that there was an increase in the size and economic impact of the pharmaceutical sector in Australia over those five years. This information is useful for stakeholders, policymakers, and investors to understand the trend and performance of the pharmaceutical industry in Australia.
Approximately 275 businesses are involved in the Australian pharmaceutical industry.
The statistic “Approximately 275 businesses are involved in the Australian pharmaceutical industry” represents the total number of companies operating within the pharmaceutical sector in Australia. This figure provides insight into the size and scope of the industry in terms of the number of competitors and market players. By knowing that there are around 275 businesses in this sector, stakeholders can better understand the level of competition, market dynamics, and potential opportunities for collaboration or investment within the Australian pharmaceutical industry. This statistic serves as a valuable benchmark for policymakers, investors, and industry analysts looking to gain a better understanding of the landscape and dynamics of the pharmaceutical industry in Australia.
Over-the-counter medicines generated a revenue of roughly 3.1 billion US dollars in the Australian pharmaceutical market in 2021.
The statistic indicates that over-the-counter medicines, which are medications available for purchase without a prescription, contributed approximately 3.1 billion US dollars in revenue to the Australian pharmaceutical market in 2021. This implies that these non-prescription medicines are an important and popular component of the pharmaceutical industry in Australia, catering to the needs of consumers seeking self-care solutions for common health concerns. The significant revenue generated by over-the-counter medicines highlights their widespread usage and economic impact within the healthcare sector, reflecting the level of demand for accessible and affordable remedies among the Australian population.
Australia accounts for just 1.13% of the world pharmaceutical market.
The statistic that Australia accounts for just 1.13% of the world pharmaceutical market indicates that the Australian pharmaceutical industry constitutes a relatively small proportion of the global market. This suggests that pharmaceutical companies in Australia have a limited market share compared to other countries and regions around the world. As a result, Australia may not be a major player in terms of pharmaceutical production, sales, and innovation on the global stage. Factors such as the size of the domestic market, regulatory environment, research and development investments, and international competitiveness could contribute to Australia’s relatively small market share in the pharmaceutical industry.
In 2019, generic drugs held a 48.5% share of the total volume of pharmaceuticals sold in Australia.
The statistic “In 2019, generic drugs held a 48.5% share of the total volume of pharmaceuticals sold in Australia” indicates that nearly half of all pharmaceutical products sold in Australia that year were generic drugs. This suggests a significant shift towards the use and acceptance of generic medications in the Australian market, likely driven by factors such as cost-effectiveness, availability, and similar efficacy to brand-name drugs. This statistic underscores the importance of generic drugs in providing more affordable healthcare options for consumers while maintaining quality standards.
In 2020, the therapeutic group with the highest expenditure was antivirals, with the total PBS/RPBS Government cost being over AUD 1 billion.
In 2020, the therapeutic group that incurred the highest expenditure in terms of the Pharmaceutical Benefits Scheme (PBS)/ Repatriation Pharmaceutical Benefits Scheme (RPBS) Government cost was antivirals, surpassing AUD 1 billion. This statistic indicates that a significant amount of financial resources were allocated towards the procurement and distribution of antiviral medications by the Australian government during the specified period. Such a substantial investment in antivirals highlights the importance placed on combating viral infections and underscores the perceived value and necessity of antiviral therapies in public health. This expenditure reflects the prioritization of addressing viral diseases and the government’s commitment to providing access to essential antiviral treatments for the population.
For the 2015-16 year, the net capital expenditure for the pharmaceutical and medicinal product manufacturing was 322 million AUD.
The statistic indicating a net capital expenditure of 322 million AUD for pharmaceutical and medicinal product manufacturing in the 2015-16 year represents the total amount of money invested in long-term assets such as buildings, equipment, and technology by companies in this industry during that specific period. This expenditure likely reflects the industry’s commitment to expanding production capacity, improving efficiency, and investing in research and development to enhance product innovation. The significant figure of 322 million AUD highlights the substantial financial resources dedicated to maintaining and growing the pharmaceutical sector, which plays a crucial role in advancing healthcare and contributing to economic growth in the country.
Conclusion
Overall, the statistics presented here provide valuable insights into the current landscape of the Australian pharmaceutical industry. With continued growth, innovation, and investment, the industry is poised for further advancement in improving healthcare outcomes and driving economic growth in the country.
References
0. – https://www.www.aigroup.com.au
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2. – https://www.www.pbs.gov.au
3. – https://www.tradingeconomics.com
4. – https://www.www.pharmaceutical-technology.com
5. – https://www.www.mtpconnect.org.au
6. – https://www.www.statista.com
7. – https://www.www.abs.gov.au
8. – https://www.www2.deloitte.com
9. – https://www.www.prnewswire.com
10. – https://www.knoema.com
