A quick Google search of New Zealand’s health tech sector throws up an encouraging list of organisations, projects and achievements.
Whether it’s innovation and collaboration, Women in HealthTech, the MBIE guide on the tech sector or, the Ministry of Health’s digital health strategy the healthtech sector is active and moving forward.
The TIN 100 report for 2019 shows healthcare as New Zealand’s leading secondary sector. Total revenue was $1.9b, delivering $92m in growth, equalling 9.1 percent growth over five years.
In export terms, a CMDT-TIN New Zealand Healthtech Insights Report Highlights 2019 shows North America is our biggest market ($708m or 38%) followed by Europe ($444m or 24%). Our home market is worth $235m or 13 percent of sales. The industry now employs over 7,500 people globally with an average wage of NZ$85,000, more than 40% higher than the NZ average. R&D spend accounts for $226m or 12.1% of revenue.
Five years ago, the Medical Technology Association (MTANZ) and the Consortium for Medical Device Technologies (CMDT) collaborated to create Healthtech Week to celebrate and support our vibrant healthtech sector.
By bringing our stakeholders together, we can encourage direct conversations between industry, distributors, research institutions, government and investors. We can showcase advances, talk pipelines and start-ups, and look for funding. We can start to build relationships very early.
We can also identify what the industry needs, such as an understanding of regulatory requirements and reaching payors and how to upskill startups to help them grow faster. We need more focus on the commercialisation journey with money needed from the get-go and an export-led product because investors want scale and that comes only from an international market. We still need to improve connections between researchers, multi-nationals and distributors.
This year’s Healthtech Week is on 24-26 June in Auckland with three key events. MTANZ will host the Healthtech Week conference which is themed around procurement and the new therapeutic legislation being introduced in New Zealand. This will modernise the 1981 Medicines Act and include medical devices, and cell and tissue therapies not currently fully regulated.
The research and start-up space is covered by the MedTech Centre of Research Excellence (MedTech CoRE) annual conference and the Innovation & Investment Workshop. The MedTech CoRE Day will showcase the latest research in medical devices and digital technologies from across the nation and initiate conversations on effective technology translation into clinical practice and the commercial arena. Closely related to MedTech CoRE Day is the Innovation & Investment Workshop sponsored by Callaghan Innovation which is a platform to showcase the pipeline of new healthtech start-ups in the ecosystem. This year it will also feature the new Healthtech Activator and the programmes for supporting these companies.
Healthtech Week also recognises top performing groups and individuals in the sector with CMDT Researcher and HealthTech Awards given out over the three events.
Join us at HealthTech Week 2020
25-30 June 2020 – Cordis Hotel