Health and Life Sciences

Victoria is a global leader in health and medical research. The Victorian Industry Policy recognises that adopting health and digital technologies is key to easing workforce pressures and improving service delivery across Victoria’s care economy, our largest employing sector. These advances not only support better living standards for a growing and aging population, but also contribute to a more flexible labour market, enabling greater participation in sectors that drive value-add and export growth.

Both Victoria’s Economic Growth Statement and Health and Medical Research Strategy 2022-2032 set out our commitment to continuing to build Victoria’s medical research and health technologies capabilities. This includes through the development of a skilled and diverse workforce, and enhancing partnerships between research institutions and industry to translate research into practical health solutions and commercial opportunities.

Our medical research institutions and universities have long-standing partnerships with Chinese counterparts. Victoria’s health and medical research ecosystem is world-class, and includes the Peter MacCallum Cancer Centre, Hudson Institute of Medical Research, National Ageing Research Institute, Murdoch Children’s Research Institute, Walter and Eliza Hall Institute of Medical Research, and the Peter Doherty Institute for Infection and Immunity. These institutions and other organisations support bold research initiatives that address global health challenges together with Chinese and global partners. Initiatives include sample processing, manufacturing, scientific knowledge exchange, innovation and research collaboration, clinical trials and capability building across infectious diseases prevention, ageing, pandemic preparedness, computational biology, HIV, Hepatitis B, respiratory infections, maternal and child health, aged care, RNA technologies, vaccines, cell therapies, microbiome therapeutics and others.

Victoria has competitive advantages to support the progress of clinical trials for medical product development. In 2023, Chinese companies were responsible for 15 per cent of all global clinical trials. With our robust infrastructure, efficient regulatory processes, research and development tax incentives and diverse patient population, there is a growing opportunity for Victoria to be a partner in these clinical trials. Victoria is known for the high quality and collaborative nature of its health and life sciences sector, and is a competitive location for global export of clinical trials run locally.

Our medical research and health technologies sector is well-placed to deliver high quality products for an international market. Victoria’s $12.7 billion commercial health technology industry employs more than 50,000 highly skilled people. More than 70 per cent of Australia’s top 25 health technology and pharmaceutical companies are based in Victoria, with the sector generating $3.82 billion in exports, including 56 per cent of Australia’s pharmaceutical products. Victoria is also increasingly growing its share of complex products like medical devices.

Victoria is proud to already be home to world-class biomedical facilities and companies including CSL, BioNTech, and Moderna, and a growing number of Chinese startups are actively looking to establish in Victoria. The Melbourne Biomedical Precinct (Parkville) and Monash University innovation precincts are two of Australia’s leading centres of medical research, playing a critical role in driving innovation, improving health outcomes, and contributing significantly to Victoria’s knowledge economy. Victoria’s attractive value proposition in this sector is built on strong regulatory systems and research excellence, diverse industry capabilities, a pipeline of highly skilled workers from world-class universities, and government support for Victoria’s startup ecosystem.

Victoria leads Australia in exports across the Beauty, Wellness and Personal Care (BWPC) sector. Victoria also has a long history of exporting premium ‘Made in Australia’ vitamin and nutritional supplements to discerning Chinese consumers. In 2023, our BWPC exports accounted for over a third of Australia’s total exports in this sector, with China remaining the largest export destination. Major Victorian companies, including Swisse Wellness, Ego Pharmaceuticals, and Life-Space are producing and exporting high-quality and trusted health and beauty products to Chinese consumers.

Case Studies