Discover key facts about the healthcare market in Australia and learn about our latest market research for our pharmaceutical, medical device, and healthcare sector clients.
Key facts about the Australian health market:
Funding in the Australian healthcare system
Australia has a regionally administered, universal public health insurance program (Medicare). It is financed through general tax revenue and a government levy. Citizens are automatically enrolled, and receive free public hospital care and substantial coverage for physician services, pharmaceuticals, and certain other services.
Health technology assessment in the Australia
The federal government provides funding and indirect support for inpatient and outpatient care through the Medicare Benefits Scheme (MBS) and for outpatient prescription medicine through the Pharmaceutical Benefits Scheme (PBS).
To be listed, pharmaceuticals need to be approved for cost effectiveness by the Pharmaceutical Benefits Advisory Committee (PBAC), who provide advice to the Minister for Health on the cost effectiveness of new pharmaceuticals. Medical devices are currently regulated and classified by the Therapeutic Goods Administration (TGA), which classifies the device based on risk. Devices must then be registered on the Australian Register of Therapeutic Goods (ARTG) before they can be reimbursed.
Australian payers’ primary focus:
The primary focus in Australia is cost effectiveness.
Why work with a European-based market access consultancy?
If Australia is your first launch market, you may be wondering about the benefits of working with a European-based consultancy over a local agency.
First and foremost, we are a Global Market Access agency. Whilst the majority of our team are based in the UK, we deliver projects to Global clients around the world. As such, we understand the needs and processes of major launch markets and archetypes, and how to factor these into a cohesive Global market access strategy.
Our work takes a broader perspective than the first launch market. This is particularly important in a complex and diverse market like that of Australia. We use our understanding of all market archetypes to deliver a suitable strategy for Australia, Europe, Asia, and beyond.
We collaborate with our affiliates across the world to ensure our strategic and tactical deliverables resonate with key stakeholders, such as payers, clinicians, and policy makers. This ensures that local adaptations of Global materials, which are developed with affiliates in mind, are efficient and meet the needs of different markets.
To discuss your launch strategy for Australia with our experts, or to enquire about market research services, get in touch using the form below.
Our work in the Australian market
At Mtech Access, we have a global network of Associates, including experts across Australia. Their insights inform our primary research and validate our secondary research.
Here are just a few examples of how we have supported clients looking to understand and influence the healthcare market in Australia:
Reviewing HTA decisions in key markets across the globe