National Health and Medical Industry Growth Plan
The Australian Government is investing in research to drive a new era of better health care and fuel jobs and growth through research.
What we’re funding
$1.3 billion in a Health and Medical Industry Growth Plan to drive a new era of better health care, fuel jobs and support economic growth.
The Growth Plan will inject an estimated $18 billion into the Australian economy. This will cement Australia’s place as a world leader in health and medical research and technology development.
- add an estimated 28,000 new jobs
- provide a minimum of 130 new clinical trials
- generate a 50% increase in exports, new markets and global market leadership in biotechnology, medical devices and pharmaceuticals
- improve healthcare outcomes from new medicines, devices and treatments, embedded genomics technology, clinical trial activity and data analytics
- boost the Australian economy through jobs and export potential.
The Growth Plan will provide:
- $500 million over 10 years for a Genomics Health Futures Mission
- $240 million over 4 years for a Frontier Health and Medical Research program
- $248 million over 5 years for
- an expanded Rare Cancers, Rare Diseases and Unmet Need clinical trials program
- new international clinical trial collaborations
- the start of work on an national clinical trials front door
- $125 million over 9 years for a Targeted Translation Research Accelerator program in chronic conditions focused on diabetes and heart research
- $94 million over 4 years for industry research collaborations and biomedical and medical technology programs.
Why it’s important
- Medical research has the power to save and improve lives and support Australian jobs and world leading industries.
- The Growth Plan will deliver scientific breakthroughs from the lab and ensure Australia stays a world leader in health and medical research.
- The Growth Plan is consistent with the Australian Medical Research and Innovation Strategy 2016–2021 supporting patients, researchers, missions and translation.