Technology

09
Oct

Growing jobs in our medical technology industry

Technology Portfolio
Growing jobs in our medical technology industry

Minister for Technology Gordon Rich-Phillips today released a landmark $18.8 million plan to boost exports and jobs in Victoria’s world-leading medical technology industry.

Launched at the headquarters of advanced manufacturer Socobell in Altona, Victoria’s Medical Technology Strategy is Victoria’s first focused and coordinated plan to expand the state’s medical technology industry and boost its exports.

“This investment will help Victorian businesses grow our medical technology capabilities and our global market share,” Mr Rich-Phillips said.

“The global medical technology industry is at an exciting point and offers substantial opportunities for Victoria, with a growing demand for high-quality health care driving demand for new healthcare solutions.

“Here in Australia, the medtech sector is predicted to grow more than five per cent each year to 2015 and beyond, with global sales of medtech-related products predicted to reach US$475 billion by 2017.

“Victoria is the nation’s industry leader in the design, development, and manufacture of next generation medical and diagnostics devices, accounting for 25 per cent of Australia’s medtech companies,” Mr Rich-Phillips said.

“This strategy aims to increase the number of medtech companies operating in Victoria, reduce our medtech imports and increase our exports, while also generating more highly skilled jobs for Victorians and contributing to our quality of life.”

Mr Rich-Phillips said that the strategy builds on the $150 million Victoria’s Technology Plan for the Future, a trio of plans which focus on growing the state’s biotechnology, small technologies and ICT industries.

“Victoria’s Medical Technology Strategy is a plan to improve the linkages and relationships with key players across the industry, facilitate its growth and development, promote Victoria’s medtech capabilities to global markets and address skills and other connectivity gaps.

“This strategy is about making sure that Victoria is best placed to capture opportunities right across the medtech development life cycle, from inventors and entrepreneurs through to our advanced manufacturing companies and regulators,” Mr Rich-Phillips said.

See Victoria’s Medical Technology Strategy at: www.dsdbi.vic.gov.au/what-we-do/enhance-innovation-and-technology/science-technology-and-innovation

Media contact: Andrew Drever  0409 580 996 andrew.drever@minstaff.vic.gov.au 
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