Victoria is Australia’s largest world leading biomedical ecosystem
Global Victoria and Invest Victoria are the State Government of Victoria’s trade and investment facilitation and promotion agency. It is a network of 23 international trade and investment offices, the largest than any other state or territory in the country and exists to work with Victorian and global partners to support the development and commercialisation of new breakthrough products and treatments.
Melbourne, Victoria – The Place for your MedTech business in Australia
Victoria, Australia is at the forefront of MedTech.
Based mainly out of the city of Melbourne, Victoria’s MedTech sector forms part of one of the world’s leading life science clusters.
Victoria has a low-risk, high-quality and competitive business environment with a rich legacy of commercial success, advanced manufacturing expertise, key R&D infrastructure, attracting and maintaining a talented and highly skilled workforce.
Victoria’s expertise in biotechnology, medical technologies and pharmaceuticals has been supported by a favourable regulatory and R&D environment, consistently backed by strong government investment and is a highly sought-after destination by global companies.
- Melbourne is one of the few cities in the world to have two universities in the global top 40 biomedical rankings, and Monash University is ranked #2 in the world for pharmacy and pharmacology.
- In 2021 Victoria received over $500 million in competitive national medical research funding, the largest of any state and over 40% of the total Australian funding.
- The Victorian Government has invested over A$15B in health and biomedical research as per of A$140B in the health system for well over a decade.
Victoria is globally recognised for its technology, engineering and design expertise:
- Victorian design and engineering companies are recognised for their excellence in translating ideas into cutting-edge solutions specific to medtech and health industries.
- Victoria is growing capabilities in AI, 3D manufacturing and new and innovative health and medical products.
Victoria is a sophisticated hub for pharmaceutical manufacturing in Australia:
- Melbourne is home to more than 58 TGA accredited GMP manufacturers producing a range of health products including pharmaceuticals, radioactive agents, cell-based therapeutics and vitamin and nutraceutical products for international markets using advanced manufacturing technologies.
- Victoria is Australia’s leading pharmaceutical exporter with over 56 % of Australia’s pharmaceutical exports coming from Victoria.
- The State has a proven history of supporting pharma manufacturing innovation, with more on the horizon.
Victoria is a premier location for the conduct of clinical trials with its combination of leading medical professionals, world class facilities, strong regulatory system and government support.
Victoria carries out about one-third of Australia’s clinical trials, with over 1,5624 commercial sponsored and 1,285 investigator institution sponsored trials ongoing in Victorian health services.
Victoria has a highly collaborative, globally connected Medtech and Life Sciences community:
- Victoria has well-established co-located hubs and strong scientific and industry networks with the most intra-city research partnerships in Australia.
- Victoria’s University sector has more industry collaborations than any other state and has long established global partnerships.
The State Government of Victoria has a robust strategy to help companies become part of the global supply chain in knowledge creation, research, production development and commercialisation.
Find out more at Global Victoria.
Contact: Carolin McCaffrey | Director, Investment and Trade | Global Victoria | Government of Victoria, Australia | firstname.lastname@example.org