The Victorian government is creating a new strategy to position the state as an internationally competitive developer of medical technology.
A member of the Victorian Biotechnology Advisory Council, Robert Klupacs, will lead the stakeholder consultation phase.
He will examine the medtech development life cycle and opportunities for supporting sectoral growth.
This work will underpin the final shape of Victoria’s Medical Technology Industry Strategy which the government plans to release later in 2014.
Technology minister, Gordon Rich-Phillips, said the government was developing Victoria’s Medical Technology Industry Strategy, which would ensure the sector was best placed to capture new opportunities in expanding domestic and global markets.
“The medtech sector is showing strong growth internationally, driven by increased need from ageing populations in developed markets and increased demand in emerging markets," he said.
Australia’s medtech sector was predicted to grow by over five per cent annually beyond 2015.”
Rich-Phillips said the strategy would also generate new opportunities for advanced manufacturing capabilities and create more high value jobs while attracting investment to Victoria
“We are very well-positioned to grow the medtech sector domestically and internationally thanks to our world-leading life sciences and medical research base,” he said.Read more: SRX Global opens new prototyping facility in Dandenong
“Complementing this is our advanced manufacturing expertise, which spans key areas like design, composite materials, ICT, small technologies, additive processes and automated systems.”
“These capabilities, developed through manufacturing sectors like automotive, can underpin our research strengths to create new medtech products and services.”
Rich-Phillips said the government was already driving innovation in medical technologies through its $15 million Health Market Validation Program – an international best-practice model for development of innovative healthcare technology solutions that are market-ready.