The global medical devices market is valued at approximately US$325 billion. In 2012, the Australian industry had turnover of $10 billion, with exports of over $2.1 billion in 2013-2014. The medical devices industry comprises a variety of entities that engage in innovation and manufacturing including individuals, academic institutions and public research organisations, small and emerging companies, and large multinational corporations.
This report provides insights into the technological innovation of the domestic med tech sector through an analysis of the scope, quality and impact of Australian-originated patents. The results indicate Australia’s relative importance in innovative activity in medical devices.