With an annual operating budget of AU$30.2 billion, the NSW public health care system offers world-class care to our 8 million citizens through 228 public hospitals with more than 160,000 staff.
NSW is home to 11 universities, with 2 ranked in the top 50 for medicine and health. Australia is ranked 8th in the world for life sciences research.
It is 28% less expensive (up to 60% with Australian Government R&D tax incentives) to run a trial in NSW than the US, with ethics reviews of early phase clinical trials within 20 days.
Precincts are a strength of NSW’s health system. Across the state there are globally significant networked concentrations of health, research, and education facilities.
The state’s health and medical research ecosystem is backed by the NSW Government; with AU$10.8 billion in capital investment over four years, and a range of grants.
Working with business to promote growth
The NSW Government is targeting investment to grow the health and life sciences industry, offering incentives and support for projects such as Sydney’s AU$96 million RNA pilot manufacturing centre and AU$25 million viral vector facility.
Significant capital investment in health precincts dispersed across Greater Sydney in Westmead, Camperdown, Randwick and Liverpool, offer economic and productivity advantages to businesses. Precincts are where research institutions and companies can cluster and connect with startups, business incubators and accelerators. This creates a culture that supports the commercialisation of products and services and grows the future skills pipeline.
The NSW Government is targeting priority sectors including:
- medical devices
- clinical trials
- gene and cell therapies
- digital health.
With business, hospitals, universities, clinics and research institutes collaborating across multiple dedicated locations, NSW is leading the way to a healthier future for everyone.
Contact Investment NSW to start making your opportunities happen in NSW.
Our dedicated team offer free, confidential and personalised support to businesses who want to learn more about health and life sciences, and how your organisation can benefit from working in NSW.