Updated on 29 May 2012
The biotechnology industry in Australia has shown good recovery since 2008 by attracting significant new investments of $554 million in 2010 against $672 million in 2009 and $183 million in 2008.
According to BioShares, the industry saw 14 percent increase in annual capital raising in 2011 to $630 million. The notable capital raises were made by Pharmaxis, Starpharma and Phosphagenics.
The size of Australia's medtech industry in 2010-11 stood at $8.3 billion (A$8.02 billion), up from $7.9 billion (A$7.6 billion) in 2009. The Australian medical technology industry is expected to grow at a CAGR of nine percent per annum over the next five years, according to Medical Technology Association of Australia (MTAA).
IMS Health put the pharmaceutical market for Australia for 2011 at $13.1 billion with growth rate of 4.8 percent over the previous year. BMI has placed the pharmaceutical expenditure in Australia in 2011 at $13.29 billion (A$ 12.85 billion). In 2012, it has estimated less than one percent growth in local currency terms to $11.79 billion (A$12.96 billion) and 11.1 percent negative growth in US dollar terms due to exchange rate fluctuations.
A Frost and Sullivan report on APAC healthcare predicts that healthcare expenditure in the region will grow 151 percent by 2015. But Australia is expected to record a muted growth at CAGR three percent to reach $198 billion against countries such as China and India that are predicted to show double-digit growth rates.