In Australia, musculoskeletal system medicine sales have shown fluctuating growth from 2013 to 2023. Sales decreased from 2013 to 2015, following which there was a period of recovery and consistent growth. In 2023, the market stood at 457.7 million USD. Notably, the year-on-year growth was 2.12% in 2023.
Trends over the longer period indicate recovery and steady growth post-2015. Significant increases were observed in 2018 and 2021 with year-on-year growth of 13.63% and 11.83%, respectively. The past five years' CAGR stands at 4.14%, showing a moderate average annual growth.
Forecasts for 2024-2028 suggest a slower growth trajectory, with a forecasted 5-year CAGR of 1.55% and an estimated total growth rate over the period of 7.99%. The market is expected to reach 504.4 million USD by 2028.
Key future trends to watch:
- Innovations in musculoskeletal treatments that could drive market growth.
- Impact of healthcare policies and insurance on medication availability.
- Continued demographic shifts, including aging population contributing to increased demand.
