Industry input to shape new medical technology strategy for Victoria

The Victorian Government has announced the development of a new strategy to position Victoria as an internationally competitive developer of medical technology (medtech), while also providing new opportunities for the state’s advanced manufacturing sector.

AusBiotech attended the ‘Victorian Medical Technologies Industry Consultation’ briefing last week, where the Minister for Technology, the Hon Gordon Rich-Phillips, said the Victorian Government is developing Victoria’s Medical Technology Industry Strategy, which will ensure the sector is 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. Australia’s medtech sector was predicted to grow by over 5% annually beyond 2015,” Rich-Phillips said.

“With this strategy, we will generate new opportunities for our advanced manufacturing capability, creating more high-value jobs and attracting investment to Victoria.”

Leading the stakeholder consultation phase of the strategy, held last week, was Robert Klupacs - a member of AusBiotech and the Victorian Biotechnology Advisory Council - who is examining the medtech development life cycle and opportunities for supporting sectoral growth.

The Victorian Government plans to release the strategy later in 2014. Also in support of medtech, the Victorian Government has also indicated its support for AusMedtech 2015, to be held in Melbourne in late April 2015.