Clinical trials are indispensable drivers of future economic prosperity, particularly in a landscape heavily reliant on innovation, exports, and productivity. They are pivotal in fostering economic expansion and facilitating the transition from a post-mining era. Serving as the linchpin of research and development in the life sciences, clinical trials provide a plethora of benefits:

• - Advancing global therapies, cures, medical equipment, and diagnostics, thereby benefiting patients not only in Australia but also worldwide.
• - Facilitating enhancements in healthcare systems.
• - Providing early access to and insights into products under development.
• - Spurring significant economic activity.
• - Creating high-quality employment opportunities in science and research across Australia.

Clinical trials in Australia

Every year, clinical trials infuse about $1.4 billion into Australia's economy, with a significant fraction of roughly $650 million originating from foreign investments, underscoring Australia's attractiveness as a global trial venue. These trials are instrumental in driving forward the progress of new treatments, devices, and diagnostic tools for patients.

Despite the intricacies of Australia's clinical trial landscape, which entail multiple elements and stakeholders, it continues to serve as an essential aspect of the business journey for life science companies.

Australia holds a significant position globally as a prime location for conducting clinical trials.

Australia attracts clinical trials from around the world and is positioned to attract additional foreign investment, thereby bolstering its economic gains. With its esteemed reputation in clinical research, Australia possesses numerous advantages that contribute to its global standing. These advantages encompass outstanding infrastructure, a culturally diverse populace, rigorous regulatory standards, and internationally renowned clinicians.

Clinical trials:

• Clinical trials contribute around $1.4 billion to the Australian economy annually, including around $650 million of foreign investment¹
• Employs more than 8,000 Australians
• Around 1,880 new clinical trials are conducted each year in Australia¹
• Australia is home to 22 of the world’s top 400 universities
• One of Australia’s strongest research areas is health and medical research, with over 60% of research outputs ranked as ‘above’ or ‘well above world standard’

Hylife Biotech Advocacy

Hylife Biotech is dedicated to promoting Australia as a primary destination for conducting clinical trials. We actively engage in Advisory Groups and initiatives, identifying crucial areas that require attention to enhance our capabilities in clinical trials.

• National One Stop Shop for Clinical Trials and National Front Door
• Key considerations in determining trial placements
• Australian recruitment strategies
• Regulation of clinical trials in emerging technology areas
• TGA support and advice for SMEs
• Funding for trials and the significance of the R&D Tax Incentive
• GST implications on comparator products
• Requirements for diagnostic trials
• Coordination of multi-center clinical trials
• Challenges in developing orphan therapeutics