Industry Analysis & Industry Trends
The Pain Medication OTC Manufacturing industry manufactures pharmaceutical products that focus on pain relief and are available without a doctor's permission. As a country with a high awareness of medication and self-medication uses, domestic demand for OTC pain medication has remained healthy over the past five years. This is despite a cautious consumer environment in which consumers have attempted to focus spending on high-value items.
Local manufacturing operations have struggled to benefit from this trend. Global pharmaceutical manufacturing has shifted production towards Asia, where labour is cheaper and the plants are larger, leading to substantial increases in economies of scale. With these jumps in production capacity, import competition has increased substantially... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Pain Medication OTC Manufacturing industry is expected to be in the mature phase of its life cycle. The industry grew strongly in the early 1980s. Over the last five years, industry revenue has been significantly hampered by rising competition from generic drugs, increasing import penetration and falling branded drug prices due to government policy. The industry's contribution to the overall economy has fallen, with Industry value added expected to fall at an annualised rate of 1.0% over the 10 years through 2017-18. The Australian GDP is expected to grow at an annualised 2.4% over the same period.
The number of enterprises has dropped, which is also a testament to the industry's mature life cycle... purchase to read more