Sales of respiratory system medicines in Australia demonstrated a varying trend from 2013 to 2023. Beginning with a decline between 2013 and 2015, where sales dropped from $615.9 million to $523.6 million, the market saw minor fluctuations up through 2018. A significant upturn started in 2019, with a notable increase year-on-year through to 2023, where sales reached $868.4 million. The compound annual growth rate (CAGR) over the last five years has been strong, standing at 9.81%. Variations in year-on-year growth over the last two years were 3.12% in 2022 and 3.04% in 2023.
From 2024 onwards, forecasted sales continue to rise, with a CAGR of 2.12% over the next five years, indicating slower yet positive growth. By 2028, the market is expected to be at $992.6 million, showcasing an estimated growth rate of 11.05% over this period.
Future trends to watch for include potential impacts of emerging respiratory therapies and innovations, shifts in policy and healthcare funding, and the ongoing influence of global health events on the medication demand landscape.
