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4 Australia Summary The medical equipment industry sector has consistently provided good prospects for U.S. exporters. Australia is the eighth largest market for U.S. exporters of medical products. Approximately 80 percent of medical devices and diagnostics used in the market are imports. The three major suppliers are the United States, the European Union, and Japan. U.S. medical equipment is traditionally well received due to its perceived high quality. The market is sophisticated, mature, and quick to adopt new healthcare technologies. Importers seek to obtain cost-effective and innovative products that will improve patient outcomes and reduce healthcare costs. Market Entry Successful market entry strategies for Australia have three common elements: understanding the market, selecting the optimal partner, and providing ongoing support to that partner. It is important to gain an understanding of the Australian context for a product or service, its competitors, standards, regulations, sales channels, and applications. Success in the market will require appointing an Australian distributor or establishing a local subsidiary, and setting up a local sales presence. Typically, distributors for medical products will cover the entire country and some may also have a subsidiary office in New Zealand. Given the Australian continent is the same size as continental U.S., as well as its distance from other countries, local support and service is important. Most of the criteria American firms use to select distributors are applicable to Australia, with expectations adjusted to the scale of the market given the population of 22.6 million. Performing due diligence on potential local partners is just as important as in the United States. Current Market Trends Australia has a high per capita income and there is demand for a full range of medical equipment. The $5 billion market is price sensitive and competitive. Australia spends approximately 9.1 percent of its GDP on healthcare, which is similar to Italy, Spain, and Ireland but less than the United States. Australia’s ageing population will significantly influence the demand for products and products that serve the ageing population are likely to experience growth. The growth of chronic disease in Australia is similar to that in other developed nations. Australians increasingly suffer from asthma; cancer; diabetes; obesity; heart, stroke, and vascular disease; osteoarthritis, rheumatoid arthritis; and osteoporosis. Opportunities exist for technologies that avert or reduce disability because of these diseases. Statistics Capital: Canberra Population: 22.6 million GDP: USD 1.507 trillion Currency: Australian Dollar (AUD) Language: English Contact Monique Roos Commercial Specialist monique.roos@trade.gov +61-2-9373-9210 U.S. Commercial Service Healthcare Technologies Resource Guide | 2012–2013
Main Competitors Imports supply approximately 80 percent of Australia’s demand for medical equipment. Key suppliers include the United States, the European Union, Switzerland, and Japan. Many suppliers in the Australian industry are subsidiaries of overseas corporations. The major American medical companies represented in Australia (either through local representatives or subsidiary offices) include Bard, Baxter Healthcare, Boston Scientific, Cook Medical, Johnson & Johnson Medical, Medtronic, St. Jude Medical, Stryker, and Zimmer. U.S. companies may experience strong competition from American firms or multinationals already in the market. Current Demand Australia’s high standard of medical practice and aging population underpin a continued demand for a range of sophisticated, high quality, and innovative medical equipment. Importers seek to source cost-effective and innovative products that will improve patient outcomes and reduce healthcares cists. Opportunities exist for products that provide a significant improvement in clinical outcomes, and product with clearly differentiated capabilities. There is also a growing demand for products that lead to faster patient recovery, reduce hospital and rehabilitation costs, and alleviate or manage disability and chronic pain. Government healthcare policies and public health influence the volume and pricing of healthcare products and services. Both the public and private sectors provide healthcare in Australia. Federal and State government spending accounts for 70 percent of total healthcare expenditure. The nongovernmental sector (individuals and private health insurance) funds are the remaining 30 percent. Approximately 45 percent of Australians have private health insurance. Registration Process The Therapeutic Goods Administration (TGA) regulates the medical equipment industry. Australia’s regulatory framework is based on Global Harmonization Task Force (GHTF) and European Community guidelines. U.S. exporters must appoint an Australian representative/sponsor to obtain regulatory approval from the TGA. U.S.-manufactured medical devices require an EC Certificate from a European Union Notified Body. Alternatively, U.S. manufacturers can apply to the TGA for a Conformity Assessment Certificate. Further information is available at tga.gov.au. Trade Events AusBiotech 2012 October 30–November 2, 2012 • Melbourne Convention & Exhibition Centre • ausbiotechnc.org AusBiotech 2013 October 29–November 1, 2013 • Brisbane Convention & Exhibition Centre • ausbiotechnc.org U.S. Commercial Service Healthcare Technologies Resource Guide | 2012–2013 5
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154 Vermont Susan Murray—Montpeli
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1208-05-17
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