News & Trends - Medical Technology

New report reveals MedTech crucial to COVID-19 response despite significant hit to industry

Health Industry Hub | June 18, 2020 |
[Total: 1    Average: 5/5]

MTAA (Medical Technology Association of Australia) has welcomed the release of a series of reports by MTPConnect today highlighting the key role played by the MedTech sector in the COVID-19 pandemic response.

The reports reveal the true impact of COVID-19 on the MedTech, biotechnology and pharmaceutical sector, an impact felt not only by local SMEs and large multinational companies, but also across the research sector, industry associations and startups.

“The impacts of COVID-19 will be felt across the MedTech industry for many years to come,” said Ian Burgess, MTAA CEO.

“The industry is facing significant challenges, including exponential increases in freight costs, the Aussie dollar and the ongoing impacts of the elective surgery pause.

Register-and-join-Health-Industry-Hub-Pharma-MedTech-Biotech

“Despite the challenges posed by COVID-19, we have seen MedTech companies come together in an unprecedented effort to support the Government’s response,” Mr Burgess said.

Through an historical collaboration with the Morrison Government, the MedTech industry successfully secured supplies of essential medical equipment, not only through the global supply chain but through a number of innovative local partnerships that were able to ramp up Australian manufacturing in a remarkably short period of time.

“The MedTech industry has been instrumental in securing essential supplies of ventilators, test kits and PPE on behalf of the Australian Government,” Mr Burgess said.

In addition to sourcing supplies of equipment through the supply chain, in what is being compared to a wartime effort, a consortium of companies was brought together to build a locally produced ventilator, in an unprecedented collaboration involving government, clinicians and manufacturers, many of whom would ordinarily be competitors.

“The efforts undertaken so far represent a significant change in our contemporary understanding of our domestic manufacturing capacity and demonstrate an untapped potential for more homegrown medtech, a potential we may never have realised without the unprecedented threat of a global pandemic,” Mr Burgess said.

“The tangible outcomes of what is coming to be known as the ‘Australia Model’ of government and industry collaboration have demonstrated the role that the MedTech can play in pandemic planning and what can be achieved when government and industry come together in a genuinely cooperative effort.”

“As an industry, we look forward to what we can continue to achieve together in order to strengthen not only Australia’s preparedness for future pandemics, but our healthcare system as a whole,” Mr Burgess concluded.

Read the report

Did you know?

  1. The medical technology industry currently employs more than 19,000 people.
  2. The industry is highly skilled with over 52% of employees having a tertiary qualification, and 25% having a postgraduate qualification.
  3. More than half of Australian medical device companies have grown from start-ups. 40% of all medical device businesses have been established since 2000.
  4. In 2013-14, Australia exported medical devices to 167 different countries around the world for a total value of $2.1 billion.
  5. Medical technology (7.76%) is second only to Civil Engineering (8.5%) and pharmaceuticals in third (6.3%) when it comes to filing patents for innovative technology.

Join the Selfcare in Healthcare Community

Selfcare In Healthcare Coalition on Mental Health Support in Pharma, Biotech and MedTech

About the author

About the author

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam luctus finibus scelerisque. Nunc bibendum ipsum sed augue fringilla fringilla. Nullam at consectetur leo. Praesent viverra rutrum porta. Quisque vitae mi vel purus vulputate tincidunt. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Suspendisse et mi quis nisi rhoncus feugiat at ac tellus. Sed aliquam sodales nulla ac auctor. Sed pretium lobortis purus accumsan ullamcorper. Phasellus sodales vel odio in lobortis. Duis maximus sagittis bibendum. Interdum et malesuada fames ac ante ipsum primis in faucibus. Nunc dictum tincidunt ipsum in vestibulum. Donec ut sem consectetur, aliquam quam vitae, pharetra orci. Nam egestas non velit eu rhoncus. Duis congue neque non lacus tincidunt porta. Vestibulum ultricies pulvinar sem, molestie congue dui aliquet non.
  • Ut imperdiet leo id lorem fermentum consectetur.
  • Ut vitae orci et dui varius tincidunt.
  • Ut id magna non libero vestibulum pharetra ac faucibus nulla.
Aliquam erat volutpat. Vestibulum vitae varius diam. Nulla eget congue ante. Nunc ullamcorper sagittis augue vel dictum. Mauris finibus nibh ut pulvinar auctor. Vestibulum ut faucibus nisi. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Quisque porta tortor ac justo malesuada elementum. Nulla tellus ante, cursus nec ex sit amet, suscipit bibendum arcu. Duis posuere orci dui, et mollis enim dictum at. Sed ullamcorper, sapien ut vulputate viverra, sem purus porttitor tellus, nec mattis mauris ligula sed risus. Nulla sagittis id ipsum eu mattis. Link to full profile

News & Trends - Medical Technology

MedTech News - Private health insurer looking to invest in Australian private hospitals

Private health insurer looking to invest in Australian private hospitals

Health Industry Hub | July 15, 2020 |

MedTech News: In a recent opinion piece Dr Bill Coote, former AMA Secretary General and former Director of the Medicare […]

More


News & Trends - Pharmaceuticals

Pharma News - Merck Australia supports the first Australian-developed COVID-19 vaccine - Sypharma and Vaxine

Merck Australia supports the first Australian-developed COVID-19 vaccine

Health Industry Hub | July 15, 2020 |

Pharma News: Sypharma, an Australian biopharmaceutical formulation company, announced manufacturing of COVAX-19 and Advax adjuvant for Covid-19 in partnership with […]

More


News & Trends - Pharmaceuticals

Pharma News - Precision prescribing to combat Australia’s expected surge in mental illness

Precision prescribing to combat Australia’s expected surge in mental illness

Health Industry Hub | July 15, 2020 |

Pharma News: COVID-19 social isolation, familial and community disconnection, shock, job loss and health fears create the perfect storm for […]

More


Medical

Medical Pharma Biotech MedTech - $47M accelerator program for MedTech, Biotech and Pharma sectors in diabetes and cardiovascular disease

$47M accelerator program for MedTech, Biotech and Pharma sectors in diabetes and cardiovascular disease

Health Industry Hub | July 15, 2020 |

Medical News: The operation of the Australian Government’s $47 million Targeted Translation Research Accelerator (TTRA) initiative for diabetes and cardiovascular […]

More