Why develop your digital health solutions in Melbourne?
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Think Melbourne for Health and Life Sciences
Opportunities in digital health transformation
Melbourne’s thriving medtech ecosystem is the perfect launching ground for digital health innovations, with demand for integrated database systems, improved patient experiences and enhanced remote care. Find out more about opportunities to:
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Integrate data driven solutions
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Create innovations that improve the quality of life
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Improve telehealth technology
Australia’s healthcare sector is set to triple over the next decade.
Meet demand for integrated database systems, improved patient experiences and enhanced remote care. Share in this extraordinary growth.
Expanding by a record 8 per cent each year,1 Australia’s digital healthcare sector is presenting significant demand for medtech innovations that will take it into the future, and Victoria's thriving digital health ecosystem is developing and launching the solutions.
Victoria’s health care system leads the way in developing improved national health care experiences. It is home to more than 300 medtech companies and start-ups, contributing A$36 billion to the economy in 2019-2020 and employing 12 per cent of the state’s population.2
Join companies such as XRHealth, Planet Innovation, Health Delivered, Seer Medical and Blamey Saunders Hears, who are creating technology that treats a wide range of medical conditions and facilitate improved health support.
Victoria demonstrates strong return on investment in health innovations
The Victorian Government is committed to supporting global innovators and investors in the development of products that improve quality of health care. Victoria’s health sector also provides the world-leading expertise and cutting-edge capabilities needed to successfully launch solutions that drive Australia’s future of healthcare forward.
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Australia has consistently ranked in the top ten globally for health expenditure per capita, ranking higher than the OECD average3.
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Victoria's start-up and tech funding accounted for more than 65 per cent of Australia’s funding market share in 2018-19, totalling A$4.5 billion4
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Sustained investment has returned more than A$4.50 in economic activity for every dollar of government investment and created more than 73,000 direct and indirect jobs in the sector5
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Victoria’s medical technology and pharmaceutical companies now attract more than 40 per cent of Australia’s medical research investment (more than any other state), spending almost A$1 billion on research and exporting more than A$2.4 billion a year6
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Healthcare is Victoria’s largest employer, employing 12 per cent of all Victorians and contributing over A$36 billion to the Victorian economy in 2019-20205
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World-class systems such as The Connecting Care Electronic Medical Record (EMR) program are being funded and built to connect medical institutions to new central databases
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Regulation in Australia is undertaken by the Therapeutic Goods Administration (TGA) - a founding member of the International Medical Device Regulator Forum, facilitating faster approvals of therapeutics
We can help you with your next market entry project
If you are considering investing in Melbourne, the Invest Victoria team can help you scope the market opportunity in Melbourne/Australia and assist you with your business case development.
Working with us will allow you to be fully informed and limit the number of surprises associated with your new investment. Our staff are experienced and well connected and can introduce you to potential partners to help make your investment a success.
- Invest Victoria and AlphaBeta Modelling – ICT spend in Australia’s health sector 2020
- ABS Australian National Accounts: State Accounts Labour Force, Australia, March 2021
- OECD - Government Healthcare spending, 2021
- Techboard start-up funding report 2019
- ABS Australian National Accounts: State Accounts 2019-20 / Labour Force, Australia, March 2021
- KPMG – Creating a Healthy Future: The impact of Victorian Government investment in health and medical research 2021