- An estimated 75% of Australians have a long-term health condition (AIHW).
- Health & aged care costs, as a proportion of Government expenditure, are expected to almost double by 2050, from 18.5% to a crippling 33% of Government expenditure (Treasury).
- Every dollar invested in Australian health and medical research returns on average more than $2 in health benefits (ASMR).
- Investment in the NHMRC between 2000-2010 is projected to have saved $966 million in costs to the health system, with a further $6 billion in gains linked to increased wellbeing (ASMR).
- Approximately 23,000 people are employed in Australian health and medical research (NSW Review).
- The pharmaceutical industry employs more than 13,000 Australians (Medicines Australia).
- More than 10,000 staff and students are employed in Australia’s independent medical research institutes (MRIs).
- The Australian Government invests 0.075% of GDP in health and medical research, around a third of the US Government’s investment (0.216% of GDP) and significantly less than the OECD average of 0.118% of GDP (OECD, 2013).
- Australia produces 3% of the world’s medical research outputs (publications) from just 1.1 % of global health research dollars (NHMRC; OECD).
- Australia’s medicines industry has annual exports worth $4 billion; it is Australia’s most valuable high technology export industry, with almost four times the exports of electronics (ABS; OECD).
- Annual turnover of the Australian medicines industry was $22.46 billion in 2010-11, and Australian medicines manufacturing contributed an estimated $9.7 billion to the economy in sales and service income (Medicines Australia).
- The biotech sector accounts for 9% of Australia’s patent applications filed under the Patent Cooperation Treaty, on par with the US and significantly more than the OECD average (6.5%) (OECD MSTI Database).
- The world medicines market has grown from $567 billion in 2003 to $942 billion in 2011 (Medicines Australia).