2014-04-03 07:05:02 - Australia Pharmaceuticals and Healthcare Report Q1 2014 - a new market research report on companiesandmarkets.com
We maintain our broad view toward Australia´s pharmaceutical and healthcare sectors, as new Prime Minister Tony Abbott stated that ´there will be no cuts to health´. While the country´s ageing population will continue to spur demand for medical services, we note that a downside risk to our forecasts is potential cuts to healthcare spending as the country, like many other developed states, runs the risk of unsustainable health expenditure acceleration.
Headline Expenditure Projections:
- Pharmaceuticals: AUD13.23bn (US$13.73bn) in 2012 to AUD13.72bn (US$13.51bn) in 2013; +3.7% in local currency terms and -1.4% in US dollar terms, due to exchange rate fluctuations. Forecast was slightly upgraded after taking into account new data from Pharmaceutical Benefits Scheme´s expenditure.
- Healthcare: AUD135.7bn (US$140.5bn) in 2012 to AUD142.0bn
(US$139.8bn) in 2013; +4.6% in local currency terms and -0.5% in US dollar terms, due to exchange rate fluctuations. Forecast remained unchanged from Q413.
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