Budget 2020: Medical Device Sector Welcomes $3.92 Billion Investment In Healthcare Sector
18th May 2020
The Medical Technology Association of New Zealand, the national industry body representing medical technology companies in NZ, welcomes the Government’s $3.92 billion investment in the healthcare sector announced in today’s Budget.
“COVID-19 has put the NZ healthcare system under tremendous stress. However, this crisis has highlighted the critical value of having an innovative and efficient medical device sector based in NZ. Local medical device companies have united and managed to supply essential medical devices to hospitals and the health system, despite a globally-disrupted supply chain and an 85 percent shortage of airfreight capacity,” says MTANZ CEO Faye Sumner, CNZM.
Ms Sumner says the medical device industry is now able to support the healthcare sector in catching up with the more than 100,000 back-log of elective surgeries and diagnostic procedures postponed under lockdown.
“In terms of rebuilding the economy, the Government should be investing in more R&D in the high value, high -technology medical device sector. The sector is already up and running and has a strong track record, earning more than $1.5 billion in exports per annum.
“The medical device sector provides long-term, sustainable, high-value jobs and opportunities for export growth.
“Government needs to invest in innovative medical technology to improve the efficiency and effectiveness of the healthcare system to enable a better response to any future crisis,” says Ms Sumner.