Biotechnology Industry Position Survey

04 May 2017

Australia has all the elements of a major Life Sciences industry, including a strong, globally recognised research sector and a sophisticated Health system.

This sentiment is reinforced in AusBiotech’s 7^th annual industry position survey, reporting the strongest year on record for the biotechnology sector.

Grant Thornton Partner & National Head of Life Sciences, Michael Cunningham interviews AusBiotech CEO, Glenn Cross on the findings of the latest survey.

However, survey findings point to a number of key considerations for the year ahead.

Consistency of public policy is vital to ensure the success of the industry, and a consistent challenge for the Biotechnology industry.
The Biomedical Translation fund continues to be an important initiative for the government to support.
R&D Tax Incentive remains under treat and a concern for leaders in the industry.
Quest for capital remains top of mind. This includes the opportunity in the Asian market and the impact this investment could have on the early stages of funding.

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30%

30% of respondent companies are exporting. The 14 companies that exported in 2016 reported a total export value of $222 million for the year, a portion of the total $4 billion in annual exports.