Industry Analysis & Industry Trends
The Pharmaceutical Product Manufacturing industry is an important component of the pharmaceutical sector. The major global pharmaceutical groups dominate the local industry, although only a small number are engaged in secondary or actives manufacturing (i.e. active pharmaceutical ingredients). An increasing number are involved in the later stages of the manufacturing process, such as dispensing, packaging and the fill-and-finish stage. A large number of players also restrict their activities in Australia to distribution.
Industry revenue is expected to grow by a meagre 0.8% over 2013-14, as various internal and external factors take their toll. IBISWorld forecasts that the industry will generate revenue of $9.9 billion in 2013-14, up marginally from $9.0 billion in 2008-09... purchase to read more
Industry Report - Starting a New Business Chapter
Substantial barriers to entry to the industry do exist, not least of which is the fact that the industry is becoming increasingly globalised, with major players operating on a large global scale. In Australia, eight of the top 10 companies are subsidiaries of established multinational operators with significant market strengths on both a global and local basis.
The high costs of R&D pose another substantial obstacle. Over the past two decades, the cost of the development of a new pharmaceutical product from its conception and synthesis through to the regulatory approval process has more than quadrupled, to reach $1.2 to $1.4 billion per product and up to 15 years... purchase to read more