Clinical trials
Clinical trials have a pivotal role to play in the economy of the future, which will strongly rely on innovative jobs, exports and productivity. They bolster the economy and are already supporting its transition from a post-mining boom. Clinical trials form the backbone of R&D in the life sciences, delivering benefits such as:
- Developing therapies, cures, medical devices and diagnostics for patients in Australia and around the world
- Fostering healthcare system improvement
- Providing early access to and information about products in development
- Promoting valuable economic activity
- Creating high-level Australian jobs in science and research
Clinical trials in Australia
Clinical trials contribute around $1.4 billion to the Australian economy annually, including around $650 million of foreign investment, with Australia attracting trials from around the world. They are a critical component in the development process of bringing new therapies, devices and diagnostics to patients.
While the Australian clinical trial ecosystem is complex, involving many parts and stakeholders, it represents a critical part of commercialisation for life science companies.
Global standing: Australia is a key destination to conduct clinical trials
Australia attracts clinical trials from around the world and is on track to draw further foreign investment and a greater share of returns to the economy.
With a world-class ranking in regards to the quality of its clinical research, Australia has a number of advantages that lend to this global standing, such as high-quality infrastructure, an ethnically diverse population, high quality regulators, and globally recognised clinicians.
Clinical trials:
- Clinical trials contribute around $1.4 billion to the Australian economy annually, including around $650 million of foreign investment1
- Employs more than 8,000 Australians
- Around 1,880 new clinical trials are conducted each year in Australia1
- Australia is home to 22 of the world’s top 400 universities
- One of Australia’s strongest research areas is health and medical research, with over 60% of research outputs ranked as ‘above’ or ‘well above world standard’
AusBiotech advocacy
AusBiotech is dedicated to promote Australia as a key destination to conduct clinical trials. We are involved in Advisory Groups and projects and have identified several key areas that must be addressed to strengthen our capability in clinical trials:
- National One Stop Shop for Clinical Trials and National Front Door
- Key elements of decision making around where to place trials
- Recruitment in Australia
- Regulation of CTs in new area of technology
- TGA support/advice for SMEs
- Funding for trials and the importance of the R&D Tax Incentive
- GST on comparator products
- Requirement for diagnostics trials
- Synchronisation of multi-centre CTs
- Issues in developing orphan therapeutics
The AusBiotech Clinical Trials Advisory Group (ABCTag) assists in the development of policy positions with advice to work toward a more effective environment for clinical trials in Australia. Read more about the Advisory Group here.
- Clinical Trials , MTPConnect, 2021
Australian showcase: clinical trials and medical innovations
12 January 2022
Watch below our virtual showcase highlighting why Australia is globally-competitive in clinical trials and medical innovations, and how your business can partner with us to develop your biotechnology. This showcase will highlight how Australia’s clinical trials are a cornerstone for innovation, actively supports innovative local companies with their R&D and offers an attractive environment for companies from around the world to develop their intellectual property in Australia.
Programme details
- The strength of the Australian bio-economy, Lorraine Chiroiu | CEO | AusBiotech
- Opportunities in Australia’s healthcare sector, Benson Saulo | Consul-General to the US, based in Houston | Austrade
- How the New South Wales Government is supporting clinical trials and advanced therapeutics, Anne O’Neill | Director Enterprise and International Partnerships | NSW Office for Health and Medical Research | Ministry of Health
- How the Victorian Government is supporting clinical trials and medical innovations, Caroline Edwards PSM | Commissioner for Victoria to the Americas | Victorian Government
- How the Queensland Government is supporting clinical trials and medical innovations, Karen Thompson | Senior Director, Health Innovation, Investment and Research Office | Queensland Health
- Australia as a destination for Clinical Trials – capabilities and infrastructure, Dr Megan Robertson | St Vincent’s Health
- Conducting clinical trials in Australia – ethics, approvals and lead times, Kylie Sproston | Bellberry
- Why Australia should be a priority market for medical innovation, Luis Jimenez | PharmaLex
- Fast track your Phase 1 clinical trial – understanding the regulatory differences between Australia and the USA, Dr Graham Wood | Nucleus Network
- Case study for international companies conducting clinical trials in Australia (lab services), Catherine Osborne | Crux Biolabs
- Strength of Australia’s IP framework for clinical trials, Dr Michael Christie | Spruson & Ferguson
- Australia’s advantages of utilising local labs to expedite data review and your Phase 1 clinical trial, Angela Luttick | 360 biolabs.
- Australia’s early phase sites: where the rubber hits the road, Jane Kelly | CMAX
- What you need to run your clinical trials in Australia, Dr Tina Soulis | Alithia Life Sciences.