Overview
The Australian health and medical industry is globally recognised for its innovation, diversity, leading technology, skills, research and development, and robust health system.
Over the past decade, the health and medical industry has grown dramatically on an international scale. According to the Medical Industry Association of Australia and AusBiotech, the Australian medical devices industry has at least 10,000 employees working in about 1100 companies.
The industry is characterised by a few large or multi-national enterprises and a large number of SME companies. IBISWorld reports that 60 per cent of companies are small organisations employing fewer than 20 people.
Key international events for showcasing Australian innovation in this sector include: Medica Germany, Arab Health, HOSPIMedica Asia, BIO USA, HIMSS USA and HIMSS Asia-Pacific.
For further information, please visit the Austrade Health website.
What are the key opportunities?
At present the key growth areas in the health and medical industry are:
1) Medical and surgical equipment and devices
The Australian medical device industry is globally renowned for its R&D, specialised skills and impressive diversity of medical technology on the market.
Strong capabilities exist in the following areas:
- Imaging/monitoring equipment
- Biomedical devices and implants
- Surgical equipment, general hospital supplies
- Diagnostic devices
- Laboratory equipment
- Dental equipment
- Health-related software
- Drug delivery
The medical device industry is connected to and supported by Australia's entrepreneurial and globally competitive Precision Engineering Industry (PEI), which has critical links to Australia's Automotive industry. The PEI involves research, design, development, manufacture, and verification of high accuracy components, high precision machines and systems. PEI enterprise is practiced in a variety of technical areas – from engineering – mechanical, electrical, optical, and industrial – to medical devices, ergonomics, human support technology, materials science, physics, chemistry, mathematics, and computer science.
Medical devices in Australia are regulated by the Therapeutic Goods Administration (TGA)through the Medical Devices program. The TGA uses a risk-based approach to assess devices before their entry on to the Australian Register of Therapeutic Goods.
2) Health IT
The health information technology and informatics field is a rapidly expanding sector both in Australia and internationally. Australia’s large geographic size has driven advancement in technology for delivering health services across diverse areas making Australia a global leader in areas such as health messaging and electronic health record architecture.
Hospital spending on health IT initiatives also drives the industry and there is an increased focus on electronic information sharing with general practice and specialised physicians, community, mental health and aged care providers. In this environment, a range of innovative technologies have emerged.
Take advantage of sourcing opportunities in key areas such as:
- Health messaging
- Electronic health record
- Hospital management and patient administration systems
- Telehealth
- Clinical information systems – eg. pharmacy, pathology
- Asset management and supply chain management
- Health payment solutions
3) Health infrastructure and services
Australia has strong expertise in a wide range of services including:
- Specialist health services and alternative health services such as acupuncture, homoeopathy and naturopathy.
- Hospital and health facilities design, architecture and interiors.
- Health consultancies, in particular in developing economies.
- Telehealth services such as teleradiology or outsourced back office support.
4) Clinical trials
Australia is internationally recognised for its work in niche areas of the pre-clinical phase (for example ICN Firefly) and emerging strengths in the clinical trials phase of biomedicine.
With 24 firms involved in Phase I trials in Australia, there is an increasing capability in early phase clinical trials, supported by current regulations and schemes in place.
Phase I and II trials (including early innovative drug trials) are taking place across the therapeutic fields, with some company capabilities confirmed by US Food and Drug Administration (FDA) accreditation. There are also paediatric trials being undertaken by the Royal Children’s Hospital and the Murdoch Children’s Research Institute as part of innovative drug trials.
An interesting example of clinical trials taking place in Australia is the Vision CRC’s ocular treatments using antibacterial coatings on contact lenses. These new coatings were the product of biodiscovery.
How can we help you?
With a network of over 140 overseas locations in more than 60 countries backed by highly experienced and qualified staff, Austrade provides a number of dedicated and tailored services to Australian exporters.
Austrade offers practical advice, market intelligence and ongoing support (including financial) to Australian businesses looking to develop international markets. Austrade also provides advice and guidance on overseas investment and joint venture opportunities, and helps put Australian businesses in contact with potential overseas investors.
For further information please contact Austrade on 13 28 78 or email info@austrade.gov.au.
Useful contacts
Austrade’s health team contacts
Email: health@austrade.gov.au
Website: www.austradehealth.gov.au
Government contacts
Australian Department of Health and Ageing – www.health.gov.au
Health Insurance Commission – www.hic.gov.au
Medical Devices homepage – www.tga.gov.au/devices/devices.htm
Regulation of Clinical Trials in Australia – www.tga.gov.au/docs/html/regct.htm
Therapeutic Goods Administration – www.tga.gov.au
General industry contacts
Medical Industry Association of Australia – www.miaa.org.au
AusBiotech – www.ausbiotech.org
Australian Health Insurance Association – www.ahia.org.au
Medibank Private – www.medibank.com.au
Medicines Australia – www.medicinesaustralia.com.au
Chik Services Health-e-Directory Australia Online – www.health-e-directory.com.au
Australian Healthcare Association – www.aushealthcare.com.au
Last updated: 15 Aug 2007
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