Australia’s medical manufacturing ecosystem is evolving: here are the opportunities
IMCRC deputy CEO Dr Jason Coonan talks about new manufacturing opportunities in the MTP sector.
Having just participated in the AusMedtech conference, I’m excited by the opportunities for companies in the Australian medical technologies, biotechnologies and pharmaceuticals (MTP) sector to establish and grow manufacturing operations in Australia.
Over the course of the pandemic, we have seen many of these companies face huge challenges, overcoming supply chain disruptions and contributing to the development of life-saving diagnostics, therapies and vaccines for COVID-19. Indeed, as Australia continues to emerge from the pandemic, it’s clear that Australian MTP companies are already playing a growing role in revitalising our manufacturing ecosystem and growing our economy. The ultimate size of this role, however, will largely be determined by those companies’ ability to embrace contemporary manufacturing technologies, capitalise on sovereign manufacturing opportunities, access appropriate capital and leverage current and proposed government investment in research and development (R&D) infrastructure and innovation support programs