Australia’s private medicines market is expanding rapidly, with non-PBS sales rising from 9% in 2019 to 15% in 2024, driven by anti-obesity drugs like Wegovy and Mounjaro and the emergence of medicinal cannabis. Six ATC classes account for most growth, with Alimentary tract and metabolism (39% CAGR) leading. New ecosystems such as Eucalyptus, Wesfarmers, and Woolworths are reshaping access through telehealth and self-funded prescriptions, while pharmacists gain prescribing powers. Despite PBS progress in areas like women’s health, funding gaps persist, positioning private spend as a major force. Collaboration and innovative access models are essential.

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