The Health and Medical Industries sector is one of the newest but fastest growing sectors in South Australia and has comparative advantages that will create economic growth opportunities.
The establishment and growth of health and biomedical businesses, clinical trials and aged care will contribute to the South Australian Government’s objective of lifting the economic growth rate in the state to an average of 3% per annum.
The Growth State Plan focuses on creating more jobs, lowering costs and delivering better services. It consists of policies, programs and projects to enhance the competitiveness of the state, attracting more inward investment and growing exports across four streams:
- Trade and investment
- Skills and innovation
- Infrastructure and land
- Water and environment.
Nine priority sectors have been identified where the state has comparative advantages, including the Health and Medical Industries sector.
The Health and Medical Industries Discussion Paper has been supported by industry as part of the Health and Medical Industries Ministerial Advisory Panel, with members spanning eight sub-sectors:
- Ageing and the care industry
- Clinical trials
- Digital health
- Medical devices
- Medical tourism
- Nutraceuticals and traditional medicine
Consultation on the Health and Medical Industries Discussion Paper is open until Friday 25 October 2019.