Pharmaceuticals - Australia & Oceania

Australia & Oceania

The Pharmaceuticals market in Australia & Oceania is expected to generate a projected revenue of US$11.57bn in 2024.
among the various markets, Oncology Drugs is anticipated to be the largest market with a projected volume of US$2.08bn in the same year.
The market is expected to witness a steady annual growth rate (CAGR 2024-2029) of 5.03%, resulting in a market volume of US$14.79bn by 2029.
When compared globally, United States is projected to generate the highest revenue of US$630.30bn in 2024.
Australia is experiencing a surge in pharmaceutical research and development, making it a leading hub for innovative drug discovery in the Oceania region.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

The Pharmaceuticals market in Australia & Oceania is a growing industry with several factors contributing to its development.

Customer preferences: Customers in Australia & Oceania have shown a growing interest in natural and organic products, leading to an increase in demand for natural remedies and supplements. This trend is particularly prevalent in Australia, where consumers are increasingly turning to alternative therapies and natural remedies for their health needs.

Trends in the market: One of the major trends in the pharmaceuticals market in Australia & Oceania is the growing demand for generic drugs. This trend is driven by the increasing cost of branded drugs and the need to reduce healthcare costs. In addition, the increasing prevalence of chronic diseases such as diabetes and cancer is driving demand for specialty drugs.Another trend in the market is the growing importance of digital health. With the increasing use of smartphones and other digital devices, consumers are looking for ways to manage their health online. This has led to the development of a range of digital health products and services, including mobile health apps, telemedicine, and remote patient monitoring.

Local special circumstances: Australia & Oceania has a unique set of circumstances that are driving the development of the pharmaceuticals market. One of the key factors is the aging population, which is driving demand for healthcare services and drugs. In addition, the region has a high prevalence of chronic diseases, which is also driving demand for drugs and medical devices.Another factor is the increasing focus on preventive healthcare. Governments in the region are investing in programs and initiatives aimed at promoting healthy lifestyles and preventing chronic diseases. This is creating opportunities for companies that offer products and services in this area.

Underlying macroeconomic factors: The pharmaceuticals market in Australia & Oceania is also influenced by a range of macroeconomic factors. One of the key factors is the growing middle class, which is driving demand for healthcare services and products. In addition, the region has a stable political environment and a well-developed healthcare system, which is attracting investment from pharmaceutical companies.Another factor is the increasing importance of research and development. Companies in the region are investing in R&D to develop new drugs and medical devices, which is driving innovation in the industry. This is creating opportunities for companies that offer products and services in this area.In conclusion, the pharmaceuticals market in Australia & Oceania is a growing industry with several factors contributing to its development. Customer preferences, local special circumstances, and underlying macroeconomic factors are all driving the growth of the market. Companies that are able to capitalize on these trends and take advantage of the opportunities in the market are likely to see significant growth in the coming years.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.