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Medical research delivering for Australia

Angus Morgan

16 October, 2018

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Australia’s welfare, economy and future potential are significantly boosted by investment in medical research, according to a new study by KPMG Economics.

The report, commissioned by the Association of Australian Medical Research Institutes (AAMRI), shows that every dollar invested in medical research generates an AUD$3.90 return to the economy.

“A near $4-to-$1 is an extraordinary return on investment,” AAMRI President, Professor Tony Cunningham AO, said.

“This return is far higher than the level needed to secure government funding for just about any other investment in infrastructure.

“Investing in medical research must remain a top priority for Australia – not only for the health and wellbeing of all Australians, but to help build a strong economy through employment, knowledge creation and our burgeoning medical technology and pharmaceutical export industries.”

The KPMG study found that health gains flowing from medical research result in a larger and more productive national workforce, preventing injury and illness, and getting people back to work faster.

The findings show that Australia’s economy, as measured by GDP, is AUD$2.6 billion larger as a result of historical medical research.

To view the executive summary and full report visit the AAMRI website.

Contact Details

For more information in relation to this news article, please contact:

Professor Brendan Crabb AC

Director and CEO; Co-Head Malaria Research Laboratory; Chair, Victorian Chapter of the Association of Australian Medical Research Institutes (AAMRI)

Telephone

+61392822174

Email

brendan.crabb@burnet.edu.au

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