A series of reports released today by MTPConnect, an independent, industry-led organisation, highlight the key role the MedTech sector played in the COVID-19 pandemic response.
The reports, welcomed by the Medical Technology Association of Australia (MTAA), reveal how the MedTech, biotechnology and pharmaceutical sector was impacted by COVID-19 at local and multinational levels, as well as across research, industry associations and start ups.
According to Ian Burgess, CEO of MTAA, the pandemic will likely continue to affect the MedTech industry for many years to come.
“The industry is facing significant challenges, including exponential increases in freight costs, the Aussie dollar and the ongoing impacts of the elective surgery pause.
“Despite the challenges posed by COVID-19, we have seen MedTech companies come together in an unprecedented effort to support the Government’s response,” said Mr Burgess.
During the pandemic, the MedTech industry, in collaboration with the government, successfully secured supplies of essential medical equipment, not only from the global supply chain, but by forming multiple innovative local partnerships that rapidly bolstered Australia’s manufacturing.
“The MedTech industry has been instrumental in securing essential supplies of ventilators, test kits and PPE on behalf of the Australian Government,” Mr Burgess said.
The cooperation of competing MedTech companies to source equipment supplies during the pandemic represents an unprecedented effort of collaborative industry effort.
“The efforts undertaken so far represent a significant change in our contemporary understanding of our domestic manufacturing capacity and demonstrate an untapped potential for more homegrown MedTech, a potential we may never have realised without the unprecedented threat of a global pandemic,” said Mr Burgess
“As an industry, we look forward to what we can continue to achieve together in order to strengthen not only Australia’s preparedness for future pandemics, but our healthcare system as a whole.”