Australia is doing better than we think on clinical trials, according to Sue MacLeman, managing director and CEO of MTPConnect.
Ms MacLeman presented yesterday at the AusMedtech 2017 conference in Melbourne.
In a session about developments in the landscape for clinical trials in medical devices, she said Australia is an attractive location for investment in trials because of its sophisticated and scalable research environment, robust and rapid regulatory environment, strong ties to Asia and cost competitiveness.
Ms MacLeman quoted figures from 2015 showing 1,360 trials were underway in Australia in 2015 with supporting investment of $1.1 billion. It is estimated clinical trials support 6,900 jobs.
"Faster to get a trial up and running faster than virtually any other market," she said, highlighting annual growth of 8-10 per cent in medical device clinical trials.
Support for policy change to ensure future investment in clinical trials has won bi-partisan political support.
Health minister Greg Hunt recently announced $33 million in new funding for medical research, with the majority going to clinical trials, including $7 million announced by former health minister Sussan Ley to establish a state-based, one-stop shop to centralise, streamline and rationalise clinical trial administration.