Regional Biomedical Supply Chain Project 2020

• The Gold Coast is the largest regional city in the country for the delivery of clinical trials
• The sector is expected to grow significantly
• This is an emerging sector that is growing quickly and has significant value
• Employment in the sector is expected to more than double over the next ten years and create high value knowledge jobs
• The Gold Coast region has the opportunity to develop the supply chain to meet projected growth

For every $10 million in revenue from grants or contracts attracted for trials are:

• Additional value-added contribution of $8.9 million
• An output increase of $15.1 million
• High value knowledge-based jobs are generated
• 89 local jobs are created

Trials generate economic activity. Over the next decade, the average annual rate of growth for trials on the Gold Coast is expected to be 7%. This will provide a value-add economic contribution of 11%. Currently this direct value add is $8.7 million and this will grow to $24.7 million in 2029 directly to the Gold Coast.

For the period 2014-2019, Gold Coast employment had an average annual rate of growth of 4% with Health Care and Education & Training being 8% and 5% respectively. For the ten years 2019-2029, comparative employment growth in the clinical trials sector is forecast to be 11% annually.