$11.4bn
$X.Xbn
16,440
575
$X.Xbn
Favourable demand factors have driven revenue growth in recent years, including an ageing population and a greater incidence of chronic disease. Increased local and global demand for consumer healthcare products has also benefited several manufacturers. However, ongoing challenges, including a changing regulatory and risk environment and reform-driven pricing pressures, have constrained the industry's growth. Ongoing PBS reforms have heavily influenced manufacturers, as mandatory price disclosures and a greater reliance on generic drugs have continued to reduce prices and added to downwards profitability pressures.
Industry revenue has declined at a CAGR of 1.8 % over the past five years, to reach an estimated $11.4bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
AstraZeneca Holdings | 967.5 | |
GlaxoSmithKline | 790.0 | |
Aspen Asia Pacific | 573.5 |
To view the market share and analysis for all 7 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Benefit-paid pharmaceuticals, Non benefit-paid pharmaceuticals and OTC and complementary medicines. Benefit-paid pharmaceuticals is the largest segment of the Pharmaceutical Product Manufacturing in Australia.
Ongoing PBS reforms are reducing benefit-paid pharmaceuticals’ relative contribution to revenue
The industry comprises companies that manufacture medicinal and pharmaceutical products for human use from both synthetic (chemical) and natural sources. Other products include chemical or diagnostic testing agents, blood serums and biotech products. Industry activities include manufacturing active pharmaceutical ingredients and synthesising chemical ingredients, late-stage packaging and fill-finish activities.
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ANZSIC 1841 - Pharmaceutical Product Manufacturing in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Favourable demand factors are driving industry growth, including an ageing population and a greater incidence of chronic disease. Simultaneously, ongoing challenges have cons...
Learn about an industry's products and services, markets and trends in international trade.
Pharmaceutical manufacturers produce a variety of pharmaceutical products for human use. These products include prescription pharmaceuticals (patented and generic) that may o...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
While enterprises are present in all states, industry activity is concentrated in Sydney and Melbourne. Victoria and New South Wales account for just under two-thirds of all ...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
The industry’s basis of competition partly depends on whether the pharmaceutical product is still in patent, out of patent or is a generic equivalent. It also depends on whet...
Learn about the performance of the top companies in the industry.
The local operations of the major global pharmaceutical companies have traditionally dominated the industry. However, their influence is waning as they continue to close loca...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The PBS currently covers 928 medicines marketed as 5,261 differently branded products. The PBS can constrain pharmaceutical manufacturers' performance, as the government uses...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Cost structures in the industry vary depending on the type of manufacturing activity undertaken. Costs can differ depending on whether the pharmaceutical company manufactures...
Including values and annual change:
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Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Pharmaceutical Product Manufacturing industry in Australia is $11.4bn in 2024.
There are 575 businesses in the Pharmaceutical Product Manufacturing industry in Australia, which has grown at a CAGR of 5.5 % between 2018 and 2023.
The market size of the Pharmaceutical Product Manufacturing industry in Australia has been declining at a CAGR of 1.8 % between 2018 and 2023.
Over the next five years, the Pharmaceutical Product Manufacturing industry in Australia is expected to grow.
The biggest companies operating in the Pharmaceutical Product Manufacturing market in Australia are AstraZeneca Holdings, GlaxoSmithKline and Aspen Asia Pacific
Benefit-paid pharmaceuticals and Non-benefit paid pharmaceuticals are part of the Pharmaceutical Product Manufacturing industry.
The company holding the most market share in Australia is AstraZeneca Holdings.
The level of competition is high and increasing in the Pharmaceutical Product Manufacturing industry in Australia.