The commercial medical technologies and pharmaceuticals sector employs more than 21,000 highly skilled people and generates more than A$12.7 billion in revenue.
Victoria is one of the world's leading locations for research and commercialisation in medical technologies, biotechnology and pharmaceuticals. It is home to a vibrant commercial sector, key R&D infrastructure and advanced manufacturing expertise making it a highly sought after destination by global companies.
The commercial sector includes more than 180 companies based in Victoria, including 61 ASX-listed companies with a combined market capitalisation of A$60 billion. With its companies connected to all major international markets, there are economic opportunities for Victorian companies to develop and manufacture new drugs, devices and digital health solutions that will shape the future of healthcare.
Melbourne‘s globally-recognised medical technology, biotechnology and pharmaceutical organisations offer significant opportunities for migrants looking to build their careers, and conduct trade and investment activities.
Victoria’s capabilities in the medical technologies and pharmaceuticals industry are amongst the world’s best. We have a sophisticated network of organisations turning cutting edge research into life-changing outcomes including:
- start ups
- medium sized businesses
- large multinationals
- service providers
- research organisations.
The Victorian government has been helping this industry grow in various ways, including investing over $1.8 billion over the past 15 years to build our science and technology industries.
Health and medical research
World-leading medical research in Melbourne
Our world-class research institutes enable Victoria to receive more than 40 per cent of national government medical research funding. Melbourne is home to state-of-the-art institutes covering major programs in:
- inflammatory disorders
- cardiovascular disease
- infectious disease
- public health
- neurological disorders
- mental health.
Melbourne’s renowned institutes also have expertise in medical bionics, eye diseases, stem cell science and paediatric research, and are respected globally for their expertise in delivering clinical trials.
Innovative life sciences
Victoria's life science sector is among the world's largest and most innovative, with a group of world-class institutes and companies worth more than A$35 billion.
Our health and medical industry is underpinned by Victoria's experienced talent pool, research and development (R&D) excellence and world-leading infrastructure.
See the Future Industries – Medical Technologies and Pharmaceuticals Sector Strategy for more information about Victoria’s plan for employment growth and investment in our health and medical technologies industry.
Business and investment
- Business and investment visas
- Business and investment opportunities in health and medical technologies
Medical technology industry associations
- ARCS Australia Ltd
- Australian Dental Industry Association
- Australian Self Medication Industry Association
- Complementary Medicines Australia
- IVD Australia
- Medical Technology Association of Australia
- ACCORD Australasia
Medical research associations
- Association of Australian Medical Research Institutes
- Research Australia
- The Australian Society for Medical Research