MTAA welcomes budget for clinical trials and R&D towards healthier Australia

The Medical Technology Association of Australia (MTAA), the peak industry body welcomed the decision in the budget to recognise the importance of clinical trials and research and development.

The decision to exclude R&D expenditure on clinical trials towards the $4 million refundable R&D tax offsets is been something the medical technology research community has been calling on.

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.

At the heart of the medical devices industry is 17,700 dedicated professionals, committed to making a positive difference to patients’ lives through medical technology.

Further, MTAA welcomes the additional $6 billion for Australia’s health and medical research sector, including $3.5 billion for the National Health and Medical Research Council, $2 billion in disbursements from the Medical Research Future Fund (MRFF) and $500 million from the Biomedical Translation Fund.

Ian Burgess, Chief Executive Officer of the Medical Technology Association of Australia said:

“MTAA congratulates the Government and the Minister for Health in the budget handed down. “The announcement to carve out clinical trials from R&D expenditure is something the sector has been calling on.

“We’re pleased the Government understood the longer timeframes, due to significant scientific and regulatory hurdles to reach market and the higher expenditure on R&D, particularly in later stages with activities like clinical trials.

“Australian clinical trials industry is estimated to be worth $1 billion to the economy with the number involving medical devices having increased from 119 to over 160 in just three years.

“Global advances in medical technology over the past 20 years have resulted in a 56% reduction in hospital stays, 25% decline in disability rates, 16% decline in annual mortality and increased life expectancy of approximately 3.2 years.

“The medical technology industry makes a highly significant contribution to the quality of healthcare in Australia in helping people live longer, healthier and more productive lives.”

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