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Snapshot: Australia's Medical Technology Sector

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A number of slides providing background figures on Australia's growing medical technology sector.

Published in: Healthcare
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Snapshot: Australia's Medical Technology Sector

  1. 1. MedTec h in Australi a
  2. 2. Australia’s med tech sector• $10 billion turnover (2012) • 600 companies employing 19,000 people • A young, small and growing industry • 80% small or medium sized • 40% with less than 20 employees • 10% with more than 100 employees • 40% established after 2000 Source: MTAA 2013 Report
  3. 3. Australia’s med tech sector• More than 41,000 medical devices listed • Large export market relative to niche sector • Similar size to Cotton ($2.6b) and Wool ($2.5 billion) Industry Exports (2012) Iron Ore & Concentrates $54.4 billion Coal $41.3 billion Gold $15.5 billion Education $14.5 billion Natural Gas $13.4 billion Medical Technology $1.9 billion Source: MTAA 2013 Report
  4. 4. Australia’s med tech sector Source: Austrade Report
  5. 5. Australia’s health care system • Compared to the APAC region: • The highest per capita healthcare expenditure in at $5,796 • Second highest health spend to GDP ratio (behind Japan) • A healthy health system: • Universal Medicare • Free inpatient services in public hospitals • Partially government subsidised private healthcare • Approximately 46% of Australians are Source: MTAA 2013 Report
  6. 6. Global positioning • Medical device expenditure per capita • Higher than the UK, Italy, Israel, South Korea and Taiwan Rank Country 5 year average (to 2011) 1 Switzerland $375 2 USA $318 3 Denmark $266 4 Sweden $247 5 Germany $246 15 Australia $153 Source: Austrade Report
  7. 7. Medtech exports Country Med tech exports Exports as % of GDP US25 ~$44b 2.8% Germany1 5 ~$21b 0.61% Netherlands15 ~$12.5b 1.6% Japan25 ~$7b 0.11% Canada35 ~$2b 0.1% Australia45 ~$2b 0.13% Sources: 1. Medtech Europe 2. Epsicon (various sources) 3. Industry Canada 4. MTAA 5. Google
  8. 8. Employment in medtech sectorCountry Number employed % of total population US 520,000 0.16% Germany 175,000 0.21% France 65,000 0.09% UK 71,000 0.11% Italy 52,700 0.08% Australia 19,000 0.083% Sources: 1. MedTech Europe 2. Google
  9. 9. Government policy not conducive to innovation • Medical technology market stagnant due to: • Global Financial Crisis • Removal of Commercial Ready in 2008 • High $AUD • More favorable tax regimes in competing international markets
  10. 10. Still room for improvement Source: MTAA 2013 Report
  11. 11. Still room for improvement Source: MTAA 2013 Report
  12. 12. Room for improvment• Proposed Australian Innovation and Manufacturing Incentive (AIMI) patent box scheme • Existing government investment in innovation is not sector specific • Programs include: • R&D Tax Incentive • Innovation Investment Fund • Commercialisation Australia
  13. 13. Medtech or biotech • Medtech has Easier path to commercialisation • Less stringent clinical trial process • Easier to gain FDA approval • Lower overall risk profile
  14. 14. Top Australian listed medtechMarket Cap (July 28, 2014) Annual revenue FY2013 Resmed $7.55 billion $1.5 billion Cochlear $3.64 billion $752 million Sirtex $1.05 billion $96.8 million Nanosonics $198 million $16.9 million Admedus $183 million $7.4 million Reva $53 million $0 Universal Biosensors $32 million $13.6 million Source: Bloomberg

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