Industry Report

How to seize the Medtech and Digital health opportunities in Australia.

May 19, 2023 16:41Trade Point Australia Consulate General of Switzerland in Sydney

Australian Government healthcare investment has increased with significant funding for healthcare infrastructure – including hospital upgrade/expansions and new build projects! Also, there is a growing demand for a range of medical devices as many providers are replacing their ‘traditional equipment’ with new products. And of course, there are some ‘emerging’ innovative technologies that are also presenting future opportunities for Swiss suppliers! Find more information on business opportunities for Swiss companies in the Australian eHealth in our factsheet below.

The Medical Technology market in Australia is projected to grow by 5.72% (2023-2027) resulting in a market volume of US$9.70bn in 2027 [1].
The Australian Federal Government is investing record amounts of money in building a stronger health care system. Apart from that, the State Governments are also announcing unprecedented investments in health infrastructure as part of the state budgets. Some of these investments are in the areas of new capital works to upgrade and build new health facilities.

With the exception of a few industry heavyweights such as Cochlear and Cook Medical, Australian medtech companies are typically young and small. One of the key challenges in this sector is competing with large multi-national companies for market share on a global scale. Having said that, Swiss companies with know-how in robotic solutions, artificial intelligence (autonomous diagnostics for example) and digital therapeutics (emerging technologies) to name but a few areas have great opportunities in this market.
For further details please see the attached market snapshot.
[1] Source: https://www.statista.com/outlook/hmo/medical-technology/australia

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