The medical technology industry in Australia is crucial for the economy, but there is a need to address challenges in attracting talent and promoting innovation in order to support its growth and potential, according to an extensive report on medical technology in Australia.
In June 2023 the Medical Technology Association of Australia (MTAA) launched The Value of MedTech Report – a major study quantifying the difference the MedTech industry makes to the lives of Australian patients, the healthcare system and the Australian economy.
The report was prepared using analysis by the Nous Group for the Medical Technology Association of Australia with support from MTPConnect and Pathology Technology Australia.
As part of MTAA’s annual MedTech on the Hill initiative, the report was formally launched in June 2023 by the Minister for Health and Aged Care, the Hon. Mark Butler MP, in Parliament House during an event attended by Ministers, Members of Parliament, Senators, and key health sector stakeholders.
The Report brings to light the significant value and contribution of MedTech in Australia, particularly to Australia’s healthcare system, industry development, employment and the wider economy.
Australian Health Journal spoke with MTAA CEO, Ian Burgess and MTAA Policy Manager, Pravin Siriwardena about the report and its key findings.
About MTAA
The Medical Technology Association of Australia (MTAA) is the national association representing companies in the medical technology industry. MTAA aims to ensure the benefits of modern, innovative and reliable medical technology are delivered effectively to provide better health outcomes to the Australian community.
MTAA represents manufacturers and suppliers of medical technology used in the diagnosis, prevention, treatment and management of disease and disability. The range of medical technology is diverse with products ranging from familiar items such as syringes and wound dressings, through to high-technology implanted devices such as pacemakers, defibrillators, hip and other orthopaedic implants. Products also include hospital and diagnostic imaging equipment such as ultrasounds and magnetic resonance imaging machines.
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Understanding extracellular vesicles in cancer therapy research
Joy Wolfram is an Associate Professor at the Australian Institute for Bioengineering and Nanotechnology and the School of Chemical Engineering at the University of Queensland in Australia. Originally from Finland, she earned both her bachelor’s and master’s degrees in biology before transitioning to engineering with a PhD in nanotechnology completed in China. Wolfram has over a decade of experience working in hospitals in the United States before joining the University of Queensland.
Her research focuses on extracellular vesicles, which are crucial for cell communication both locally within tissues and over longer distances between organs. Her lab studies the roles of these vesicles in both health and disease, particularly in cancer. They investigate the harmful messages released by cancer cells that aid in tumour growth, specifically in breast cancer, while also exploring how to harness beneficial extracellular vesicles from healthy individuals as potential therapeutics.
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Being Part of the New Health Frontier
In November last year, the House of Representatives Standing Committee on Health, Aged Care and Sport delivered its bipartisan report “The New Frontier: Delivering better health for all Australians” on the approval processes for new drugs and novel medical technologies in Australia.
Australian Health Journal spoke to some of the industry bodies who were part of the Inquiry, for their comments on the process, the report and hopes in the recommendations being implemented.
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Gavin Fox-Smith talks Medical Technology
Former Johnson & Johnson ANZ Managing Director, Gavin Fox-Smith on working in large & small MedTech companies
