Clinical trials are a critical step in the research and development process for new drugs, vaccines, medical devices and diagnostics.
Participants in clinical trials get early access to these potentially life-saving new therapies, while at the same time advancing medical knowledge. More broadly, clinical trial activity contributes to the development of a thriving research culture within Australia's healthcare system and promotes Australia's international research profile.
A global reputation for clinical trials excellence has made Australia a go-to destination for companies wanting to conduct clinical trials and seen the clinical trials sector develop into one of the country's most important and valuable services exports.
This report, Australia's Clinical Trials Sector: Advancing innovative healthcare and powering economic growth, developed through extensive and whole-of-sector stakeholder engagement, provides a snapshot of the size and scope of Australia's clinical trials sector. It examines how the sector is performing, highlights the significant contribution that the conduct of clinical trials makes to the Australian economy and better health outcomes, and identifies opportunities for future growth.
- $1.4 billion contributed to the Australian economy in 2019
- Employs more than 8,000 Australians
- 95,000 Australians participated in clinical trials in 2019
- 1,880 trials started in 2019
This new report follows a comprehensive sector profile published by MTPConnect in 2017 - both serve as important resources for the sector.
Both reports are produced in collaboration with L.E.K Consulting and funded by the Australian Government under the Industry Growth Centre Initiative.