Australia is a global hub for developing, testing and launching medical technologies
Medtech is one of Australia’s best-performing, high-innovation sectors. Today, a globally collaborative medical ecosystem is achieving extraordinary things in five sectors: telemedicine, precision medicine & genomics, big data & artificial intelligence, digital records, and virtual reality training.
According to Denise Eaton, Senior Adviser, Austrade, institutions and agencies are rapidly extending the scope of in-country medical research. Australian companies are globally recognised high performers in manufacturing and prototyping, as well as traditional research and development.
‘Medical innovation is in our DNA,’ says Eaton. ‘Our background – in terms of vast distances, remote settlements and a multicultural society – means we have a tradition of having to innovate.’
Medical innovation in Australia is set for a sustained boost following the government’s A$20 billion investment in the Medical Research Future Fund. The fund builds on Australia’s established position at the forefront of pharmaceuticals development. Today, the country hosts 50 clinical research networks and bio labs, and hosts – on average –1,300 clinical trials per year.
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Contact Austrade Singapore if you want to find out more about investing into, collaboration and/or partnership with the medtech industry in Australia.