We work with Australian industry, government and researchers to identify major growth opportunities for the medical technologies and pharmaceuticals industries in Australia, as well as develop strategies and practical plans to ensure we position Australia as an influential and innovative player in the global MTP sector.

The challenge

Unlocking future growth opportunities for Australia in MTP

The medical technologies and pharmaceuticals sector is a fast growing and extremely lucrative sector globally. Australia is a player in this sector but competition is fierce and change is needed to ensure that our MTP sector is able to meet the challenges and grow in this highly competitive global industry. If we succeed then this will bring better health care opportunities to Australia and boost economic growth and jobs in the future.

Our response

Focusing on four main MTP areas for growth

To compete effectively, Australia needs to adapt its regulatory and MTP ecosystem to address the challenges and prepare the groundwork to build and scale an innovative MTP sector capable of capitalising on growth opportunities overseas to serve as a future economic driver for Australia. Four specific areas of focus have been targeted for our growth. They are:

  • Smart devices, implants and bionics
  • Accelerated pharmaceutical development
  • Manufacturing high-value pharmaceuticals
  • Diagnostics and informatics products and services.

The results

A Roadmap for unlocking future growth

The report discusses ways the MTP sector can grow by focusing on high growth, high potential areas that leverage off Australia's comparative advantage. At the same time, it's important to prepare for tomorrow by laying the groundwork for an ecosystem that enables Australia's MTP sector to grow through innovation and commercially-oriented research. We need to address issues such as agile regulatory systems, government support for the MTP industry and its businesses, a focus on innovation and commercial viability as well as education and reskilling of the workforce.

Download the report

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