Everything you need in one place for journalists interested in the MTP sector.
The size of Australia’s MTP sector
The MTP sector is a significant contributor to the Australian economy, generating approximately $4.4 billion in gross economic value added (4.5% of Australia’s total manufacturing gross value added),[i] $4.0 billion in annual exports from manufacturing[ii] and employing 48,000 people across medtech (c.10,000), biotechnology, and pharmaceuticals (c.22,000),[iii] and health and medical research (c.16,000).[iv]
[i] CY2015. Australian National Account – ABS 5206; ABS 8155 (for apportions) and ABS Census data (for apportions); L.E.K. analysis. Includes ANZSIC codes 1841, 2411 and 2412. The percentage has been calculated based on manufacturing as the ANZSIC codes for the MTP sector fall within the broader manufacturing sector of the economy
[ii] FY2015. ABS 5368; L.E.K. analysis. Includes Standard International Trade Codes 541, 542, 872 and 884
[iii] Department of Industry, Innovation and Science supplied ABS data; ABS census data; L.E.K. analysis. ANZSIC Codes 1841, 2411 and 2412 are included
[iv] c.8,000 in the university sector - NHMRC and Excellence in Research data, L.E.K. analysis; and c.8,000 working in medical research institutes (MRIs) and other medical research centres – AAMRI Enhancing the commercialisation outcomes of health & medical research, 2012
MTPConnect was formed as a not-for-profit organisation in November 2015 as part of the federal government’s $248 million Industry Growth Centres Initiative to accelerate the rate of growth of the MTP sector to achieve greater commercialisation and establish Australia as an Asia-Pacific hub for MTP companies.
MTPConnect is an independent and trusted voice, calling for change to support the sector. It fosters collaboration and competition, aggregates existing knowledge and shares it with the broader sector. Finally, it jointly funds projects that address the Sector Growth Priorities and the constraints and gaps identified in the sector.
The MTPConnect Head Office is located at the New Horizons Building at Monash University, co-located with CSIRO and industry. There are also key hubs at the University of Sydney’s Institute of Biomedical Engineering and Technology and the Medical Device Research Institute at Flinders University at Tonsley in Adelaide.
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