Research and Markets (http://www.researchandmarkets.com/research/27e3e3/australia_pharmace) has announced the addition of the "Australia Pharmaceuticals and Healthcare Report Q1 2010" report to their offering.
Australia Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Australia's pharmaceuticals and healthcare industry.
Australia's pharmaceutical market is among the most developed in the Asia-Pacific region. Access to medication is good across all sections of the population, with per-capita spending calculated at US$352 in 2008. While not particularly high by Western European or North American standards, it represents the second highest level in the region, behind only Japan. Over the next 10 years this report forecasts that spending on pharmaceuticals - including all prescription and over-the-counter (OTC) medicines - will increase at a compound annual growth rate (CAGR) of 3.1%, representing modest, if not overly impressive performance.
The Asia Pacific region's attractiveness to research-based multinational drugmakers has increased, according to the Pharmaceuticals Business Environment Ratings for Q110. Australia has maintained its premier ranking in the Business Environment Ratings for the Asia Pacific region in Q110. Australia's position, ahead of the far higher value market of Japan, reflects more positive growth dynamics and more favourable general market conditions.
Australia's population will expand steadily over the next decade, driven primarily by immigration. Annual per-capita spending on pharmaceuticals will increase from US$368 in 2008 to US$441 in 2019. Though to 2030, populations aged over 65 and over 85 will increase by factors of 2.3 and 3.4, respectively. As the elderly consume more medicines and require more medical check-ups than young people, demand for healthcare services will remain robust.