The medical manufacturing plan that isn’t

Industry and Science Minister Ed Husic and Health Minster Mark Butler have released what is titled a manufacturing co-investment plan for medical science, the first of the National Reconstruction Fund priorities.

The statement sets out four medical science “investment opportunities,”

  • digital health
  • medical devices
  • complex therapeutics
  • “sustainability” (specifying manufacturing, “circular economy principles,” preventative healthcare” and “sustainable production.”

So what’s the plan? Government and industry action in six areas is the answer,

  • Skills and capability availability.” “the government is committed to building a skilled and adaptable workforce” including by “a better migration system focused on skills gaps”
  • Demand: government can increase it at home and Austrade is important to exports
  • Collaboration and coordination: “by connecting key players and finding synergies through precincts, Australia’s medical science industry can build critical mass … government and industry could do more.”
  • Supply chain diversification: businesses facing high export competition should increase domestic capability. Those with domestic capability should export
  • Regulation and business settings: stakeholders point to cost, time “and ease” of regulatory approval. The system should promote competition “so that industries can grow”
  • Translation and commercialisation: “de-risking translational activities and incentivising later stages of clinical development in Australia can attract investors and support the growth of small businesses and start-ups. “ (But how?)

The Government also proposes embedding translational facilities within healthcare settings and innovation precincts, “to support clinician-led innovation” and improving access to translation facilities – including building capability in university technology offices.

Winning ideas all; as long as international competitors aren’t already on to them. And some detail would be good.



Sign Up for Our Newsletter

Subscribe to us to always stay in touch with us and get latest news, insights, jobs and events!