Action proposed on manufacturing industry

Medical technology saves and improves lives by detecting diseases earlier and by providing more effective treatment options for patients and the healthcare system.  MTAA is encouraged that the NSW Government recognises the potential of the medical technology sector as a high performing growth industry and prioritises the sub sector of medical devices as a key focus of this plan.

The medical technology industry is one of the few manufacturing industries with the potential to deliver economic growth in NSW.  Medical technology can make a significant contribution to the NSW economy by generating employment and creating new export markets.  It also has the potential to provide innovative solutions to the NSW Government’s escalating health budget over time.

Australia has a good public healthcare system with strong clinical research capabilities and a highly educated workforce as well as an internationally respected and stable finance system.  Australia’s proximity to emerging markets in Asia with a desire for sophisticated medical products also presents significant export opportunities.  Nevertheless, there is currently a policy vacuum at the federal and state government level in terms of fostering this potential.  MTAA believes the NSW Government can provide a framework to support industry development by establishing clear goals and priorities to form part of a growth strategy for the industry.  The development of a Manufacturing Industry Action Plan is a crucial opportunity to contribute to such a strategy.

To access a copy of the MTAA submission, please follow this link.