Australia Pharmaceuticals & Healthcare Report Q1 2015 - New Market Research Report

The Australian government will continue to use drug price controls as a means to reduce healthcare expenditure. Our view is based on the government's runaway budget deficit and the inevitable increased demand for medicines as the population ages and incidence of long-term diseases rise. Consequently, government price controls will continue to present downside risk to drugmakers selling their products in Australia. The need to curb growing healthcare expenditure and high medicine prices will result in the government targeting medicine prices.

Headline Expenditure Projections

* Pharmaceuticals: AUD12.95bn (USD12.50bn) in 2013 to AUD13.48bn (USD12.40bn) in 2014; +4.0% in local currency terms and -0.8% in US dollar terms, due to significant exchange rate fluctuations. Forecast downgraded after taking into account new data for the Pharmaceutical Benefits Scheme's expenditure.
* Healthcare: AUD142.16bn (USD137.18bn) in 2013 to AUD149.19bn (USD137.35bn) in 2014; +4.9% in local currency terms and 0.1% in US dollar terms, due to exchange rate fluctuations.

Full Report Details at
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Risk/Reward Rating

Australia's Pharmaceutical Risk/Reward Rating (RRR) score for Q115 increased to 67.0 out of the maximum 100 and kept third position within the region. In general, Australia scored above average for all indicators and sub-indicators. However, among the top five countries Australia and Hong Kong have the lowest Industry Rewards scores with 23.6 and 22.4 respectively. Australia's score is boosted by a relatively large pensionable population, a steadily growing population through immigration and high spending per capita second only to Japan, but dragged down by a declining pharmaceutical market.

Key Trends And Developments

October 2014

A report revealed that the Australian health sector is witnessing a gap in the quality of health between the richest, most advantaged and poorest, disadvantaged citizens. The report, which is based on 2011-2013 data from the Australia Bureau of...

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