Australian pharmaceutical companies are concerned they are in danger of losing their place in the industry as advocates claim billions of dollars are being lost to overseas markets.

Australian pharmaceutical companies are concerned they may lose their place in the industry as advocates claim billions of dollars are being lost to overseas markets and figures show exports have slumped by more than 30 per cent since 2012.

Advocates claimed the global market was worth $US1 trillion in yearly sales, but warned that if the Australian industry did not receive government assistance, it would meet the same fate as the car manufacturing industry.

Medicines Australia chief executive Tim James said Australia could not compete with low-cost Asia-Pacific pharmaceutical manufacturing companies and instead needed support to become a world-class drugs manufacturer, known for its research and development.

"The rest of the world is catching up," he said.

For more details, go to: http://www.radioaustralia.net.au/international/2015-04-04/claims-australia-in-danger-of-falling-out-of-trilliondollar-pharmaceuticals-industry/1433296