Biomedical
Queensland is home to a cluster of niche enterprises focussed on biopharmaceuticals; generic pharmaceuticals; medical devices and niche point-of-care diagnostics; a handful of large, multinational biomedical manufacturing businesses; a thriving complementary medicines industry; plus support services such as health economics, pre-clinical and early phase clinical trials, regulatory affairs, financial services including research and development (R&D) tax services, recruitment, and intellectual property and other legal services.
This highly knowledge-intensive segment of the Queensland economy employs more than 9000 people and contributes $1.4 billion in value to the state economy, with the potential to grow by almost 40% and employ up to 3000 more people by 2027.
Previous Queensland Government investment in the biomedical sector has been extremely successful. It has built strengths and emerging capabilities in areas such as immunology and vaccine development and delivery; biologics; precision medicine; infectious and tropical diseases; immunotherapy; and smart devices and diagnostics.
The Queensland Biomedical 10-Year Roadmap and Action Plan released in June 2017, along with the announcement of the $2 million Biomedical Assistance Fund that will help biomed enterprises access capital to bring new products to market. The roadmap details our vision to ensure the biomedical sector is in a strong position to expand its important role in the global value chain.
Last updated: 09 Nov 2021