Spotlight on Australia: Life and Health Sciences
Opportunities for NI Exporters -
Traditional
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Healthcare expenditure (% of GDP) expected to double over next 50 years.
Aged care is a priority: Australia's older population expected to double by 2057.
Total market for medical devices valued at >£3.8 billion (Medical Technology Association of
Australia).
> 54% of companies active in the sector are SMEs
Australia imports 80%+ of medical devices used in the market (~32% from USA)
OPPORTUNITIES FOR NI EXPORTERS:
All levels of government are committing funds towards: healthcare resources, new
infrastructure, boosting telehealth & mental health support capabilities:
WA
NT
SA
NS
W
VIC
VIC
Victoria: A$2.5 billion (£1.4b) in health, mental
health & aged care infrastructure in 2022-23
budget.
New South Wales: A$10.1 billion (~£5.7b) to health
infrastructure through 2022-23 including 40+ new /
upgraded hospitals.
SUPPLY OF
EQUIPMENT/TECHNOLOGY/SERVICES TO
TREAT CORONARY HEART DISEASE,
STROKE, DEMENTIA, LUNG CANCER,
COPD, BREAST CANCER, PROSTRATE
CANCER, DIABETES
ORTHOPAEDIC & PROSTHETIC MARKET
FASTEST GROWING SECTOR (AGING
POPULATION)
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