Updated on 19 April 2013
What is the market size of the medical technology industry in NZ?
The market size of the medical technology sector is about NZD1.4 billion. Also, we export NZD 600 million worth of goods every year.
Could you kindly elaborate on the major industry-related developments that have taken place in the last two years?
In terms of policy regulations, NZ is exploring the possibility of a Trans-Tasman joint therapeutic agency with Australia (ANZTPA), which is expected to be established by July 2016. On the front of procurement, NZ is undergoing major changes to the way the public hospitals procure devices with the process to be centralized with PHARMAC (government buying agency) which will undertake assessment, priotization and funding of all hospitals devices beginning in 2015. A new agency has also been set up, National Health Committee to establish a process for health technology assessment.
What are the major challenges faced by the industry and how is the association helping the industry to deal with the hurdles?
The major challenge has been establishing a joint agency with Australia that will impose considerable costs on NZ companies. The changes to the procurement of devices will be highly competitive for the companies. MTANZ Board has developed a strategic plan with an advocacy plan that is underway to ensure engagement at the highest level to ensure what is put in place is in the best interests of NZ The consultation process is underway on both projects.