A source of statistics and trends in the Australian and International medicines industry has been published in the latest edition of the Medicines Australia Facts Book (4th Edition).
These opportunities for investment and manufacturing in Australia should be used to boost Australia’s exports and create more jobs leading to economic growth, it says. This can only be achieved through strong collaboration between policy makers and industry.
The publication also points to pressures and challenges on the local industry in the competitive global market for new medicines. Industry craves a stable and globally competitive policy environment to optimise its prospects for success on the world stage and to attract further investment locally.
What we do know is Australians are living longer thanks to a number of health outcomes including the development of new innovative medicines and treatments, reducing the number of disease-related deaths, Medicines Australia says.
The medicines industry continues to develop thousands of new medicines and vaccines, which currently includes more than 900 new biologics.
Biologics have already revolutionised treatment for some diseases and are expected to deliver the most effective means of treating a growing variety of illnesses and disabilities over time.
Better health is vital to a productive and participative society and industry will continue to drive health outcomes across the Australian population working in collaboration with government.
The Facts Book also includes data on research and development, registration and reimbursement, manufacturing and sales, health outcomes and expenditure, and biotechnology and the broader medical research sector in Australia.