The ICN Victoria 2024 Medtech Showcase brought together over 120 professionals at CSL’s new Melbourne facility to explore the challenges and opportunities facing the Medtech industry.Â
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For OEMs, startups and key medtech players in product management, engineering, manufacturing, and supply chain, this event provided actionable insights into building stronger local supply chains, optimising product development, and driving innovation.
Strengthening Local Manufacturing for Resilience
Global supply chains remain volatile, but the solution for Medtech companies may lie in local manufacturing. Hon. Natalie Hutchins, Minister for Jobs and Industry, highlighted the need for local suppliers to play a central role in ensuring a resilient healthcare supply chain. Nick Foa, CEO of ICN Victoria, supported this vision by launching the Victorian Medtech Manufacturing Capability Directory and announcing the Australian Medical Manufacturing Alliance.
The overarching message was clear: for the Medtech sector to continue growing, we must create new opportunities for Victorian manufacturers to supply both private and public healthcare systems. This strategy not only strengthens local supply chains but also creates more local jobs. ICN Victoria, with its 40-year history of supporting local industry, plays a pivotal role in connecting buyers with local manufacturers, ultimately strengthening Australia’s sovereign medical manufacturing capability.
At Extel Technologies, we see local manufacturing as a crucial strategy for OEMs and startups to accelerate time-to-market, reduce costs and ensure greater control over the supply chain.
Insights from Industry Experts
Procurement remains a major challenge for many Medtech companies, especially smaller manufacturers and startups. At the event, leaders like Neil Rodaway from HealthShare Victoria, David Campbell from Lendlease, and Tom Stray from Dentalife Australia provided critical advice on how to navigate these hurdles.
For OEMs and startups, the message was clear: understanding procurement processes and aligning with healthcare buyers’ needs is essential to gaining traction in this market. Practical strategies shared at the showcase offer a roadmap for companies looking to optimise their product development process and meet stringent healthcare standards.
Innovation Through Local Partnerships
The showcase featured 24 exhibitors, all showcasing innovations that leverage local manufacturing and supply chain efficiencies. For companies aiming to scale, the event reinforced the importance of forming strategic partnerships with trusted local suppliers. These partnerships are key to ensuring high-quality production while maintaining the flexibility to meet changing healthcare demands.
At Extel Technologies, we’re committed to partnering with OEMs and startups to streamline product development, optimise manufacturability, and support lifecycle management, helping our partners scale efficiently and maintain compliance with healthcare regulations.
Looking Ahead: Seizing Supply Chain Opportunities
As global supply chains face continued disruptions, Medtech companies have a unique opportunity to strengthen their position by building local solutions. By reducing dependence on international suppliers and enhancing local supply chains, companies can better navigate uncertainties and ensure a reliable flow of products to market.
At Extel Technologies, we’re not just reacting to these challenges—we’re proactively helping our partners by providing tailored electronic solutions that optimise every stage of the product lifecycle. Whether it’s accelerating time-to-market or ensuring scalability, we’re ready to help OEMs and startups build a more resilient future for healthcare.
Secure your Product Supply Chain Today
Learn more about how Extel Technologies can help your Medtech device thrive in a challenging supply chain environment.
Schedule a consultation today to explore our tailored solutions.
Final Thoughts
The ICN Medtech Showcase 2024 wasn’t just an opportunity to connect with industry leaders—it was a chance to gain real, actionable insights on how Medtech OEMs and startups can overcome today’s challenges and seize new opportunities. For companies like Extel Technologies, the future is about collaboration, innovation, and building the supply chains of tomorrow.
