The Australian medtech and pharma sector is a strong ecosystem of startups and manufacturing companies.
According to the Medical Technology Association of Australia, over 500 medtech companies have products listed on the Australian Register of Therapeutic Goods (ARTG). Medicines Australia and Ausbiotech note that there are around 50 multinational pharmaceutical companies and more than 400 locally owned medical biotechnology companies operating in Australia. Over 100 medical technology, biotechnology and pharmaceutical companies are listed on the Australian Stock Exchange, with a combined market capitalisation of approximately A$85 billion.
Medical technologies, devices and diagnostic solutions
Australia has strong credentials in medical devices and diagnostic development. In addition to high-profile inventions like the cochlear implant (bionic ear) and continuous positive airway pressure (CPAP) devices, Australian industry is a pioneer of many niche products such as:
- 3D customised titanium implants
- non-invasive blood glucose monitoring systems
- long-wearing night and day contact lenses
- melanoma detection devices
- transdermal insulin delivery devices
- diagnostic technologies for sleep disorders, neurophysiology and cardiology
Almost half of Australia’s medical biotechnology companies are involved in therapeutics. Export growth areas include human therapeutics (protein, antibody, enzyme, stem cell etc) and diagnostics (gene, protein) market, vaccines, biotechnology services (R&D, CROs), bioinformatics, genomics and proteomics services, reagents and active molecule supply.
Advanced manufacturing within and beyond medical technology
Australia’s reputation and track record in clean, safe, high-quality manufacturing, together with its demonstrated capacity to integrate technology, skills and innovation from different disciplines including ICT, medical research, precision engineering and advanced materials position it well as a partner for high-value manufacturing, collaborative R&D, product development and investment.
New medical technologies and new pharmaceutical products, such as biologics and cell therapies require highly specialised manufacturing adhering to high-quality manufacturing standards and processes. Australian company strengths extend along the value chain from R&D, clinical trials, product design, niche manufacturing to ongoing customer service via digitally enabled platform technologies and apps.
Being located on the doorstep of the fastest-growing region for consumer demand and income growth means that Australia is ideally positioned for the global pivot to Asia. As MNCs shift their focus towards the Asia-Pacific region, Australia has cultural, business and academic links already in place, as well as FTAs with a number of the most influential emerging economies in the world.
Australian company Nanosonics developed the proprietary trophon® EPR for fast, automated high level disinfection (HLD) of ultrasound probes.
A collaboration between the CSIRO and Australian dental company Oventus has developed a game changing solution for people suffering from sleep apnoea.
Monash University Faculty of Medicine, Nursing and Health Sciences was the first Australian academic research institute to be invited by Pfizer to join their Centers for Therapeutic Innovation
Amgen Australia conducts on average two ‘first in human’ studies every year, with almost half of their clinical trial research being early phase.
The Monash Institute of Pharmaceutical Sciences (MIPS) translates basic research into clinical trials to deliver new drug treatments, partnering with a number of international pharmaceutical companies for global reach.
Ms Sue MacLeman, Managing Director and CEO MTPConnect will present on Australia's medtech capabilities and competitive advantages at a medtech Showcase in Seoul.