The Australian medical device market is developed, and its regulatory framework is well-established. However, in the upcoming years, it will have one of the South Pacific region’s slowest rates of growth.
A large percentage of the medical equipment used in Australia is imported. Subsidiaries of major international firms govern the nation’s industrial sector.
The healthcare sector in Australia is developed and open to new products. A wide variety of medical devices are always in demand, especially those made to treat and control illnesses linked to ageing. Since the Australian market is driven by the need to manage costs, imported products are frequently cutting-edge and economical.
Devices that treat chronic pain, and disabilities, and speed up healing are also in greater demand. From a regulatory perspective, the Australian market is relatively open to products that have previously received the CE Mark.
The Australia Medical Devices Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
New therapies for patients with diseases including epilepsy, Parkinson’s disease, hearing loss, stroke, and diabetes are expected to go forward more quickly with the opening of Australia’s first medical device development and production center in Melbourne.
The Bionics Institute and the University of Melbourne recently opened a new facility called Neo-Bionica. It is a highly specialized laboratory that was specially designed with the most up-to-date cleanroom technology, cutting-edge robotic equipment, improved 3D printing, and highly precise equipment needed to develop prototypes and manufacture medical devices for clinical trials.
Through commercialization, innovation, and research, Texas Medical Center (TMC) and Biodesign Australia will advance health and life science research. Founders and entrepreneurs will have access to talent, clinical trial activity, expanded funding opportunities, and market access thanks to the collaboration between TMC and Biodesign Australia.
TMC Biodesign will be able to better connect with programmes in the Biodesign Australia network as a result of this partnership. An avenue for Australian digital health and medical device firms to interact with Texas Medical Center Innovation programmes and partners has been co-designed by the TMC | Australia Biobridge.
Baxter Healthcare (Baxter), a world leader in clinical nutrition, and Micrel Medical Devices, a medical device firm specializing in infusion treatment, have announced a partnership for the sale of the Micrel Mini Rythmic PN+ infusion pump for parenteral nutrition (PN).
According to the deal, Baxter Healthcare will be Australia and New Zealand’s sole distributor of the Micrel Mini Rythmic PN+ infusion pump and its accessories.
An Australian medical technology business called Nutromics has secured millions in a pre-market investment round in which private investors took part. The business is creating continuous molecular monitoring (CMM) platform technology, which uses a single wearable sensor to detect many targets throughout the human body.
The technology offers continuous, real-time molecular-level insights for systems for hospital-at-home care and remote patient monitoring. It will make use of its new finances to establish a manufacturing plant and carry out the first human clinical trial for the device, which will start later this year. The US and Australia will be the first countries to offer the CMM patch.
Braun Australia, a top supplier of cutting-edge medical goods and services for the healthcare sector, recently announced that it has joined forces with Demic Infection Control Stations (Demic ICS) in a strategic alliance to offer a cutting-edge hand hygiene solution for the international healthcare market.
The partnership gives B. Braun exclusive distribution rights for Demics ICS’s Concierge hand sanitiser dispensing system, which will use B. Braun’s Softa-Man hand sanitisers, in the healthcare industry.
For hygienic and surgical hand preparation, B. Braun’s Softa-Man antiseptic hand rub has been shown to be effective against bacteria including Methicillin-resistant Staphylococcus aureus (MRSA), mycobacteria, fungi, enveloped viruses, and rotavirus.
An infection preventionist and quality manager can now improve and standardise infection control compliance with the aid of a new digital tool from Nanosonics, an infection control-focused medical technology firm with its headquarters in Australia. The ultrasonic market will be the first to use the Nanosonics AuditPro, and the product is anticipated to launch in the US.
Along with a browser-based app, the Nanosonics AuditPro includes a mobile scanning device, an ultrasound user app, and both. Users of the mobile app can standardize infection control procedures to satisfy accreditation criteria and obtain best practise infection control education as part of the clinical workflow at the ultrasound console.
The Australian government provides millions in partnership projects through the BMTH programme to assist in advancing novel new medical devices to the next stages of beginning human trials and early manufacturing.
Up to four well-developed initiatives that can be finished in a year may receive financing. These projects will help devices complete the process of becoming commercially viable.
With recent funding recipient WearOptimo announcing an agreement to produce its next generation Microwearable sensor health technology, the BMTH initiative has already had remarkable success.
The wearable device provides patients with early warning of heart attacks, heat stroke, and other potentially fatal conditions, as well as their doctors. The gadget will be produced in Brisbane and sold all around the world.
Through the BMTH programme, the government funded WearOptimo’s research to create the Microwearable technology itself and subsequently to use it to track cardiac and dehydration health.
The BMTH programme is delivered by MTPConnect, a non-profit organisation that fosters innovation, collaboration, and commercialization in the medical technology, biotechnology, and pharmaceutical sectors.
The Therapeutic Goods Administration (TGA) reaction to COVID-19 in Australia includes processes for quick evaluation of a variety of medical devices used in the disease’s treatment.
Thankfully, there was no large-scale utilisation of intensive care beds. However, during this period, there was no market for medical device manufacturers who focused on elective surgeries such orthopaedics, spine, neuromodulation, non-urgent cancer therapies, and others.
Device producers who focus on urgent procedures like heart care were comparatively untouched. There has been a “hibernation” in some sectors of medical device reimbursement and ongoing change, even though the sale of medical devices and the actual delivery of healthcare are expected to resume.
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