Australia’s high-quality and affordable healthcare system is envied around the world. It’s underpinned by a world-class medical research sector, which is nurtured in our universities and hospitals, medical research institutes and life science companies.
Health and life sciences is our 8th largest export sector, worth A$8.5 billion.
A culture of innovation
Australia is a sought after hub for cutting edge life-saving medicines and procedures. Medical research pioneers are drawn to a culture of innovation backed by generous funding and incentives. Our history of producing Nobel Prize- winning research and high tech solutions are making a significant contribution to global medical scientific discovery.
Check out the new patent box for Australian medical and biotech technologies. Companies will pay a concessional corporate tax rate of 17% on income from Australian medical and biotech patents.
When you bring your talent to Australia, you’ll have access to collaborative innovation hubs and research centres, and a world-class clinical trials ecosystem.
Add to this strong intellectual property protection, an ideal test bed market for clinical trials and access to large export markets, and you have an ideal location for the development of new diagnostics, devices and therapies.
Life sciences research in Australia
- ranked 8th globally overall
- ranked top 6 in optometry, ophthalmology, paediatrics and reproductive medicine
A high-energy ecosystem
Our top-ranking universities and academics are global leaders in clinical medicine and pioneers in many areas of health and life sciences research. We’re breaking new ground in specialist fields such as oncology, neurology, regenerative medicine, medical devices, tropical diseases, diabetes, cardiovascular disease and diagnostics.
Australia is home to several comprehensive cancer care centres that are pioneering genome research. We also boast world-leading immunology facilities with the infrastructure and expertise to develop viral vectors and companion diagnostics.
Our medical technology, biotechnology and pharmaceutical sectors work lockstep with industry, entrepreneurs and academics. Collaborating with an Australian university can give you access to some of the world’s best minds and a share of the impressive A$10.6 billion in revenue generated via partnerships with Australian universities each year.
We’re also world leaders in electronic medical records, and big data and artificial intelligence are swiftly being adopted by the Australian healthcare sector, with fantastic opportunities to access and create data-driven health services and products.
Australia’s national science agency CSIRO is leading new strategies to prevent and minimise the impact of diseases through the delivery of evidence-based products, programs and services, including its molecular diagnostic solutions and precision health and medicine research.
It’s also an internationally renowned catalyst for advanced manufacturing, connecting industry to global supply chains. Its work with industry on research into 3D printing has led to world-firsts in printing human body parts. It even invented Wi-Fi, the empowering technology at the heart of the digital health revolution.
CSIRO is in the top 1% of the world’s scientific institutions in 15 of 22 research fields.
Ideal location for clinical trials
Australia’s clinical trial capabilities, skilled workforce and specialised infrastructure are second to none. With some 50 trial networks and biobanks across the country, Australia started 1880 clinical trials in 2019 with 95,000 Australian participating. Conduct your clinical trials in Australia and you benefit from:
- streamlined regulatory and ethics approval
- a multicultural population ideal for trials
- high-quality data that is recognised around the world
- cost effectiveness – it’s 28% cheaper to run trials here than in the US.
It’s no wonder that our sophisticated clinical trials environment draws both local and international participants, with nearly one-third of industry-led trials in Australia led by multinational companies.
Australia ranks fifth on the International Property Rights Index 201
Australia has the 2nd largest biotech public market
500 medtech companies in Australia
Australia is in the global top 20 for medtech patents
Grants, incentives and support
- MTPConnect, part of the Australian Government’s Industry Growth Centres Initiative, champions the growth of Australia’s medtech, biotech and pharmaceutical (MTP) sectors. MTPConnect raises awareness, fosters collaboration and competition, and aggregates and shares existing knowledge with the broader MTP sectors. In addition, it delivers several Medical Research Future Fund activities
- The Australian Government's A$20 billion Medical Research Future Fund aims to transform health and medical research and innovation to improve lives, build the economy and contribute to health system sustainability. Granting activities from the Medical Research Future Fund include:
- the A$45 million MRFF BioMedTech Horizons, which drives discoveries that address key health challenges towards proof-of-concept and commercialisation, maximising entrepreneurship and idea potential
- the A$22.3 million MRFF Biomedical Translation Bridge Program, which nurtures early-stage health and medical research to reach proof-of-concept with the potential to attract further capital and support
- the A$47 million MRFF Targeted Translation Research Accelerator, which is improving the prevention and treatment of diabetes and cardiovascular disease.
- Australia’s A$1.5 billion Modern Manufacturing Strategy has a dedicated stream for medical products.
- The Research and Development Tax Incentive encourages businesses to invest more in R&D through tax offsets.
- The Australian Tax Office’s New Investment Engagement Service gives tailored guidance on tax issues to businesses planning significant new investments in Australia.
Business.gov.au provides information, grants, services and support from across government to help businesses succeed.
- Ellume’s Rapid COVID-19 Home Test
- Coviu puts remote medical access in good health
- Implantable monitoring and seizure detection for traumatic brain injury
- Building a world-class influenza vaccine manufacturing facility in Australia
- Spray-on skin revolutionises burns treatment
- Gardasil: Reducing cervical cancer rates through HPV vaccine
- Commonwealth Serum Laboratories