2023-24 HealthTech Industry Prospectus
Hunter Central Coast Snapshot
The Region's Health & Medtech Companies
Engage in seven sub-segments of the Health & Medtech sector. Due to the connection between industry, researchers and clinicians we see growth in the medtech, ehealth and wellness soultions
Are focused on the provision of healthcare directly to patients, practitioners and hospitals
HealthTech: A Growth Sector for the Hunter Central Coast
Hunter Central Coast is an economically significant region situated on Australia’s east coast. Located north of Sydney, the region is NSW’s second most populated area, with a combined population of over 1,000,000 people. It is one of Australia’s top performing regional economies with combined GRP estimated at around $87.1 billion which is approximately 12.5% of NSW’s economic output. Hunter Central Coast has a growing, diverse Health & Medtech industry base. It comprises companies and organisations representing biotech, medtech, digital health, service providers, clinical services, allied health, research, education, insurance, specialised professional services, national peak bodies and government.
There is a spread of large and small, mature and start-up health & medtech companies in the region. 31% were established less than 5 years ago, 22% in the last 10 years, 28% between 10 and 25 years ago and 17% have been operating for more than 25 years. The region’s broader industry base primarily comprises SMEs, which is reflected in the health & medtech cluster: 63% of companies have less than 10 FTE employees, 26% have between 10 and 100, and 11% have more than 100 employees.