Most prescribed prescription drugs Australia FY 2023, by prescriptions

The cholesterol-lowering medication Rosuvastatin was the most-prescribed prescription drug in Australia in financial year 2023, with almost 17 million subsidized and non-subsidized prescriptions written. Other commonly prescribed drugs in this period included the blood pressure medication Perindopril, the antibiotic Cefalexin, and the antidepressant Escitalopram. 

A vital industry for Australia

With steady year-on-year growth in the revenue of pharmaceutical, cosmetic, and toiletry goods in recent years, prescription medications represent a major market. What’s more, a significant share of patients in the country are using prescription medication.

Government subsidies as a market driver

To facilitate positive health outcomes for Australians, the Australian government subsidizes medications through its Pharmaceutical Benefits Scheme (PBS). Annual government spending on the PBS amounts to several billions of dollars, with a much smaller share of the prescription drug costs borne by patients.