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News & Trends - Pharmaceuticals

MTPConnect CEO talks pharma, medtech and biotech sector performance and megatrends shaping the future

Health Industry Hub | May 18, 2022 |
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In tracking the growth of innovation, productivity and competitiveness of Australia’s medical technology, biotechnology and pharmaceutical (MTP) sector, MTPConnect has launched an updated Sector Competitiveness Plan (SCP).

MTPConnect CEO, Stuart Dignam, joined Health Industry Hub to deep dive into the highlights of the medtech, biotech and pharma sector performance, the megatrends shaping the future, and the policy landscape necessary to drive the uptake and integration of novel medicines and medical technologies in Australia.

Mr Dignam said “The medical technology, biotechnology and pharmaceutical sector is a significant contributor to the Australian economy – quite apart from the contribution that the sector makes to people’s health, well being and to research.

“Across all of the metrics – whether it’s economic metrics, commercial metrics or R&D metrics – there’s been strong growth from 2016 through until 2021. For example, there are 73,000 jobs now supported in the sector, that’s up substantially since 2016. The growth of around 4% per annum is much higher than in the general economy.”


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