Overview

Melbourne, Victoria is home to one of the world's highest ranked life science hubs as well as the home for global firms and local companies known for their excellence and innovation in the development of products. Australia was ranked in the world’s top five for biotechnology innovation in the 2013, 2014 and 2015 Scientific American Worldview ranking.

An exceptionally skilled workforce, a strong culture of collaboration and an efficient and streamlined regulatory approval process underpins Melbourne's medical and pharmaceutical innovations and advancements.

With world-class research and development facilities, Victoria provides an exciting market for international businesses looking to benefit from our global leaders in the medical technologies and pharmaceuticals sector.

World-renowned research

Melbourne’s capabilities are supported by the strength of its medical research and tertiary education sector which attracts over 40 per cent of Australia’s total competitive medical research funding. Melbourne is one of only three cities in the world to have two universities in the global top 20 biomedical rankings and one of these, Monash University, is ranked as the second best university in pharmaceutical sciences in the world.

Victoria’s world-class research and development facilities are open for access by academic researchers and industry. These investments provide a range of exciting opportunities for international businesses looking to benefit from our global leaders in the medical technologies and pharmaceuticals sector.

Highly competitive clinical trials setting

Melbourne is an attractive location for fast, cost-effective and high-quality clinical trials. It has a streamlined multi-site clinical trial network, fast ethics approval and Australia's Clinical Trial Notification system together with Australia's research and development tax incentive for companies, that provides up to a 43.5 per cent cash refund.

Video: Medtech and Pharma in Victoria

Fast facts

  • A skilled and innovative workforce includes around 23,000 people employed in the commercial sector and 20,000 researchers working across universities, hospitals and research organisations.
  • In 2016, Victoria exported about 47 per cent of Australia’s total pharmaceutical products worth just over $1.5 billion.
  • Access to global markets from Melbourne is convenient as the time zone bridges North American and European business hours. This has encouraged a growing number of trans-Pacific partnerships such as those with Merck and Astra Zeneca. Melbourne is an Asia Pacific gateway for industry collaboration and excellence.

Discover how your business can import from Victoria

  • Our network of Victorian Government Trade and Investment (VGTI) offices are located around the globe and provide tailored market intelligence, insights and guidance for your import business, and investment in Victoria. VGBOs can also connect you with Victorian exporters and industry partners.