NZ could earn billions in global medtech markets

New Zealand companies poised to earn billions in global medtech markets

Export revenues from New Zealand’s medical technology products could potentially rival those of the more high profile NZ wine sector in three to five years, according to the Emerging Medical Technology Group.

The Emerging Medical Technology Group (EMTG), a steering committee under the umbrella of the Medical Technology Association of New Zealand, represents manufacturers who supply medical technology used in the diagnosis, prevention, treatment and management of disease and disability.

It may surprise many people to learn that New Zealand companies currently design, manufacture and export such devices as machines to manage obstructive sleep apnea and other respiratory conditions; customised titanium hip, knee and neck implants; specialised dental technology and implants, among others.

“We’re confident medical technology will be New Zealand’s next billion dollar industry. It’s vital, however, that there’s greater collaboration across the sector to ensure we don’t miss the opportunities,” says MTANZ business development manager (EMTG) Angela Pantano.

MTANZ has organised an inaugural two-day conference “A Global Ambition” in Auckland from February 23-24 to bring together representatives from Government, research, the healthcare sector and the emerging medical technology industry to realise the immense potential of this growth sector for the country.

Simon Hall, chairperson (EMTG) says companies in this sector are poised to double their revenues from $587 to $1.2bn in five years’ time. Total exports for this sector are currently worth approximately $510m or 88 percent of total revenues and have been growing at 16 percent a year. Putting this into perspective, total New Zealand wine exports for 2009 were around $900m.

The Government’s chief science advisor Professor Sir Peter Gluckman will open the MTANZ conference which will also host top international speakers such as Dr David Chilvers, chief executive of NHS Innovations London and Dr Jonathan Sackier, Professor of Surgery at the University of Virginia, USA and president of Paradigm Shift Healthcare, who was involved in pioneering robotic surgery.

ENDS

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