A powerhouse for science and innovation
Excellent research facilities, world-class scientists and a strong but flexible regulatory regime have made Australia a powerhouse of biotechnology and pharmaceutical innovation. International bench-marking by the EIU considering a range of industry indicators, including clinical trials, the IP system, and the regulatory, and business and investment environments, ranks Australia well for the competitiveness of its biotechnology and also as a location to conduct clinical trials.
This competitiveness has helped Australia become home to a thriving network of more than 470 biotechnology companies. Of these, half are involved in therapeutics, with agricultural biotechnology and diagnostics also featuring.
The vibrancy of the biotechnology sector attracts strong international attention.
Australia is regarded as one of the best places in the world to conduct clinical trials (PDF, 1MB). It boasts world-class medical research and healthcare infrastructure, a stable socio-economic environment, an ethnically diverse population and a strong intellectual property regime.
Australia provides opportunities in biomedical, diagnostics, medical devices, and agri-biotech. Australia has:
- Significant opportunities in cross-sectoral areas such as clinical trials, proteomics and biodiscovery.
- A leading location for biotechnology companies in Asia Pacific with more than 470 core biotechnology companies - half of which are in human therapeutics.
- A well-established medical device industry, a strong position in nano-biotechnology, and is internationally regarded for its expertise in stem cell research.