Country Fact Sheets
Medical Technology is a competitive and highly innovative industry. By 2016 the global medical device market will approach US$350billion. It is one of the few sectors that continues to expand at a reasonable rate. In 2011 despite health budget cuts in advanced economies the industry still grew by 5%.
The United States is the traditional epicentre of medical technology innovation. However the US’s position at the forefront of the industry is not as secure as it once was. In current times where innovative advanced manufacturing is highly prized by Governments looking to revitalise diminishing manufacturing sectors, medical technology is viewed as a priority sector for government support. In Australia there are a few programs aimed specifically at the medical technology sector. However there are also more generalised programs MedTech companies can apply for. We have provided a summary of the programs available from the Australian and State Governments for the various stages of development of a product.
MTAA has provided a summary of the industry and government programs in other countries whose MedTech industry is comparably in size to Australia or the governments are aggressively supporting the development of a MedTech industry. MTAA currently has information available on:
Information on other countries will be progressively added.