Australia’s Complementary Medicines Industry Snapshot 2018
Description
The sector is well-established, having evolved over the last 30 years to become a world-class industry that supports research, employment and high-skilled manufacturing. High demand for complementary medicine products is driving steady growth, with the industry reaching $4.9 billion in revenues in 2017. Over the last five years, the sector has achieved $2 billion in growth, predominantly as a result of our strong exports. Over 60 per cent of companies in our sector are engaged in exporting activities, and numerous Australian brands are recognised and trusted internationally.
Research notes
i Euromonitor International Australia, Complementary Medicines Market Data 2016-2017. 2018: Euromonitor
International Australia.
ii ibid
iii Complementary Medicines Australia, Complementary Medicines Industry Survey. 2014.
iv Euromonitor International Australia, Complementary Medicines Market Data 2016-2017. 2018: Euromonitor
International Australia.
v ibid
vi Euromonitor International. (2017). Dietary Supplements In Australia. Sydney: Euromonitor International
vii Roy Morgan. (2015). Checking the health of Australia’s vitamin market [Press release]
viii Remplan, Economic Impact Analysis: Nutraceutical Science and Innovation Program. 2016.
ix Euromonitor International Australia, Complementary Medicines Market Data 2016-2017. 2018: Euromonitor
International Australia.
x IbisWorld, Vitamin and Supplement Manufacturing in Australia: Market Research Report. 2017.
xi Therapeutic Goods Administration, Performance statistics report: July 2015 to June 2017. 2018.
xii Therapeutic Goods Administration, Half Yearly Performance Snapshot, 1 July to 31 December 2017. 2018. xiii Therapeutic Goods Administration (2017) Therapeutic Goods Administration Business Plan 2017-18