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Pain Medication OTC Manufacturing in Australia Industry Market Research Report Now Available from IBISWorld
Date:5/15/2013

Melbourne, Australia (PRWEB) May 16, 2013

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. According to IBISWorld industry analyst Craig Shulman, “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. Australian operations have to deal with higher wage costs. Consequently, this competition is putting pressure on industry profit margins. IBISWorld expects revenue to decrease at an annualised rate of 2.0% over the five years to 2012-13. In 2012-13, revenue is expected to decline 3.3% to reach $834.4 million.

Over the next five years, these trends are expected to continue. Import competition is expected to provide a strong challenge to local manufacturers. “Global pharmaceutical manufacturers are expected to increase their foothold on the global OTC market, as they take advantage of the growing popularity of OTC medication in developing countries and thus improve their global economies of scale,” says Shulman. These growing markets are also new opportunities for Australian manufacturers, which will still have to combat cheaper production methods in these countries as
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