Medical Technology Exporters Plan To Pass $1 Billion Mark

Media Release

28 June 2011

Medical Technology Exporters Plan To Pass $1 Billion Mark By 2015

New Zealand's medical technology industry is confident that its fast-growing local manufacturing sector will generate more than $1 billion per year in exports by 2015, as it benefits from rising healthcare spending and advances in medical science around the world.

"Right now we're contributing close to $600 million each year in exports to the New Zealand economy," says Faye Sumner, Chief Executive of the Medical Technology Association of New Zealand (MTANZ). "By 2015, we plan to push through the $1 billion mark. That will put us in the same league as export industries like fruit and wine."

Ms Sumner says that it is a bold target, but one that can definitely be achieved. "There are fantastic opportunities for our companies to sell their niche products and improve healthcare outcomes right around the world - not just in the traditional markets like the US and Europe, but also in fast-growing developing markets like China. We've nearly doubled our exports in the last three years, and I've got no doubt we'll do it again in the next few years."

For the industry to achieve its aims, Ms Sumner says that it will need to focus on investing in R&D, clinical trials and skilled human capital.

She adds that there is an important role for the Government to play, particularly in creating the right operating environment. "We need the Government to make sure that New Zealand remains an attractive place for leading medical technology companies to do business - for the health of kiwis, and for home-grown innovation to flourish, we need access to the best equipment available on the global market."

Ms Sumner says that creating the right operating environment also means a regulatory framework that supports local manufacturers.

MTANZ formally launched its growth plans at the inaugural NZ Healthcare Congress - hosted by MTANZ today in Auckland - and Ms Sumner says that it is a Kiwi success story that will resonate closely with people.

"We're talking about just the kind of innovation-intensive, export-focused firms that New Zealand needs in order to grow the economy," Ms Sumner says.

www.mtanz.org.nz ENDS

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