In 2010, Australia’s population was 22.4 million, largely due to a positive balance between the birth rate and mortality rate and net overseas immigration. The mortality rate is almost steady due to Australia’s strong healthcare infrastructure and medical and diagnostic services. The pharmaceutical market was estimated at $14.9 billion in 2010 and is expected to reach $30.5 billion by 2020 at a projected CAGR of 7.4%. The medical device market size was worth approximately $6.5 billion in 2011 and is expected to reach $10 billion by 2020 at a projected CAGR of 4.8%.
The positive trends in the healthcare market can be attributed primarily to -
- Easy market access to pharmaceutical drugs
- Increasing awareness of the need for the early detection of lifestyle and chronic diseases
- Government-subsidized prescription medicines through the Pharmaceutical Benefit Scheme (PBS) for all eligible, general or concessional patients
- Annual review and addition of expensive innovative drugs to the PBS drug list
- Overview of the pharmaceutical and medical devices market, including size, segmentation, and key drivers and barriers.
- Profiles and SWOT analyses of the major players in the pharmaceutical and medical devices market. The key players covered for the pharmaceutical market are Pfizer, AstraZeneca, Novartis, Sanofi and GlaxoSmithKline, and the key players covered for the medical devices market are Siemens Healthcare, GE Healthcare, DePuy Inc, F. Hoffmann-la Roche and Stryker Corporation.
- Insightful review of the reimbursement and regulatory landscape, with details of the healthcare reimbursement process, regulatory agencies and market authorization processes for new drug and medical devices.
- Detailed analysis of Australia’s political and economic environment, including the economic indicators, demographics, healthcare infrastructure and healthcare expenditure.
- An overview of the opportunities for and challenges to growth in the healthcare market.
Reasons to buy
This report comprehensively covers both the pharmaceutical and the medical devices market in Australia. It will enhance your decision-making capability and allow you to -
- Develop business strategies by understanding the trends shaping and driving the healthcare market.
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical and medical devices market segments and companies likely to impact the healthcare market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing the performance of various competitors.
- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnerships.
- Identify, understand and capitalize on the opportunities and challenges in the healthcare market.