In its once-in-a-decade report ‘Our Future World’, Australia’s national science agency identified seven global megatrends that will shape our lives in the coming decades. Among them is the escalating health imperative.
Alongside climate change, geopolitics, artificial intelligence, and diversity, equity and inclusion, CSIRO highlighted the promotion of health as central to the challenges — and opportunities — ahead.
As the world shifts and uncertainty grows, Australia stands at a critical crossroads.
How can the nation harness its unique strengths to build a world-class medtech manufacturing sector? The answer lies in bold investment, decisive policy, and the right partnerships — a chance to cement Australia’s role as a global healthcare innovation leader.
This question was front and centre at the recent AusMedtech conference at the ICC Sydney, where Karyn McIntosh, Director of Policy and Government at AusBiotech, chaired a key panel on ‘Strengthening sovereign capability: "Made in Australia" medtech manufacturing’.
The session explored the growing potential of Australia’s medtech industry and offered a candid examination of its challenges and opportunities. The panel featured several experts, including Cook Medical's John Skinner, Navbit's Lynette Walter, Rachel Levin of the National Reconstruction Fund Corporation, Mike Junger of Vaxxas, and Cochlear's Greg Bodkin.
A central theme emerged during the session: Australia has the potential to become a global leader in manufacturing specialised, high-value medtech devices. These complex, cutting-edge products can serve as a key competitive advantage on the global stage. But that potential is not enough on its own — it demands a clear, strategic plan supported by robust investment and forward-thinking policies that prioritise long-term growth.
The road ahead is not without obstacles. Panellists pointed to regulatory inefficiencies, rising costs, and a fragmented approach across states as challenges that could stymie progress. The need for a more efficient regulatory system was underscored throughout the discussion, with McIntosh calling for a fundamental shift in policy.
“We need to think about commercialisation in our policy settings,” she asserted. “We need to gear it not towards giving away our technology overseas. We need to say no; our policies need to be geared to be keeping things here... and that's a culture too.” Her words resonated strongly, echoing the frustration within the sector and highlighting the urgent need for policies that protect and nurture local innovation and manufacturing.
A powerful takeaway from the session was the critical importance of collaboration.
Ms McIntosh said, “Partnership between government and industry is just so critical.”
“Our role more and more at AusBiotech is creating that link between the folks in the room here, and our broader membership, to create those conversations,” she said.
“The government is hungry, and we're seeing industry is hungry. And I think that's a good hunger to have and bring together,” added Ms McIntosh.
The panel discussed how Australia’s ability to compete globally hinges on a skilled and adaptable workforce. While Australia excels at fostering early-stage innovation through mechanisms like the R&D Tax Incentive, it is falling short when it comes to commercialising and manufacturing onshore. Panellists emphasised the need to develop a workforce capable of meeting the evolving demands of the medtech industry — and that begins with investing in education, training, and talent retention.
Australia’s opportunity to become a medtech manufacturing hub in the Asia–Pacific region is more relevant than ever. With global supply chains in flux, Australia is well-positioned to diversify its manufacturing base and attract international companies looking to mitigate risks. This is not just a vision — it’s an opportunity we can seize right now.
A future where Australian companies transition from dependency on external funding to self-sustaining, profitable businesses is within reach. By focusing on high-tech, specialised manufacturing, Australia can carve out a unique space in the global medtech market. With the right policies and strategic investments, Australia can become a top destination for the production of complex, high-quality medical devices.
As the session concluded, Ms McIntosh said, “This is our hope at AusBiotech, for conferences like this, is to join some of those dots and bring people together as a national industry.” Her call to action was that Australia’s medtech manufacturing future hinges on the relationships we build and the decisions we make today.
She said that if Australia can leverage its existing strengths, foster the right partnerships, and put the right policies in place, we have the chance to shape the future of global healthcare. The time to act is now. Let’s not miss this opportunity to put Australia at the forefront of medtech manufacturing.