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Australia pharmaceuticals market benefited from consumers regarding health and wellness a top priority despite recessionary pressures
Pharmaceuticals in Australia: ISIC 2423 - a new market research report on 2014-04-01 17:49:03
Over the review period of 2000-2010, despite tight economic conditions, consumers in Australia continued to regard their state of health and wellness as a key priority. This resulted in continued growth in sales, moving up the overall market for pharmaceuticals up by an average of 6% annually to reach more than A$28 billion in 2010.

The significant pattern affecting the growth in demand is the ageing Australian society. As is the case in many other developed countries, the proportion of older people in Australia is increasing. With the birth rate in Australia in steep decline until relatively recently, and life expectancy creeping upwards, the number of pensioners in the country has increased rapidly: over 1995-2007 the number of pensioners in Australia grew from 2.2 million to 2.8 million, an increase of 27%.

As a result, the proportion of the Australian population accounted for by pensioners grew from 12% to just over 13%.

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