The drive towards miniaturisation and its impact on the Australian Life Science industry
1/10/2018 12:49 pm
It may come as a surprise to learn there are over 140 Life Science companies listed on the Australian Stock Exchange. Not only this, but these enterprises have a combined market cap of more than AU $50 billion. Industry participants span across private enterprises, research institutes, funding bodies, support services and regulatory bodies, with each playing an important role in shaping the development of Life Science products in Australia.
And in recent years, industry growth has accelerated thanks to a talent pool of engineers, designers and researchers transitioning from traditional manufacturing to the Life Science field. In fact, many of the product designers and managers we work with at VFV have made the switch from the automotive and traditional energy sectors, to use their expertise developing innovative Life Science products right here in Australia.
Will the industry continue to grow?
Despite the recent growth of Australia’s Life Science industry and the ongoing support of both federal and state governments, local companies are faced with some unique challenges. Specifically, shipping takes longer, the wages are higher, the domestic market is smaller, and this makes the product development process increasingly difficult.
But in the face of these roadblocks, local designers are finding new ways to gain a strategic advantage over international competition, including:
- Harnessing government support and investments in R&D, to create and manufacture products here in Australia.
- Utilising the research and support provided by world-leading universities and research organisations, like Australia’s national science agency CSIRO.
- The recent decline in AUD:USD exchange rate, which makes Australia an attractive destination for US-based firms to undertake product development.
- The supporting destination lifestyle, which makes it easier to attract and retain top-end talent in Australia.
As a result, we are seeing Australian-based design start-ups emerge almost monthly. And many of these companies are being pioneered by enthusiastic engineers who have gained invaluable experience working for international companies and subsequently decided to venture out on their own.
Local designers can leverage industry-leading research from CSIRO — Australia's national science agency — to gain an advantage over international competitors.
How shrinking products are offering designers new opportunities
Customers are no longer willing to compromise on product function to accommodate new technology, and this is a constant battle for designers. In today’s rapidly evolving environment, design teams need to deliver smaller, more portable, and less invasive products if they want to succeed.
To do this, design teams need to leverage the knowledge of industry experts when developing miniature fluid systems that involve the integration of valves, connectors, filters and manifolds.
Across Australia, VFV are the leaders in miniature fluidics systems and have extensive experience working with the country’s largest Life Science companies. These include Invetech, Leica BioSystems, Agilent Technologies, CSL, Planet Innovation, Memjet, Resmed, and many others.
At VFV, we work with you to recommend and supply precision fluidic components that are either off-the-shelf or customised for your application. Our manufacturing partners also include some of the global leaders in the field, such as:
- Clippard Miniature Pneumatics
- Parker Hannifin
- Xavitech Intelligent Pumps
- BioChem Fluidics
To find out more about how you can work with leading Life Science manufacturers and gain a strategic advantage over your competitors, read our recent blog on the 3 most common traps in fludic system design and how you can avoid them.
If you are interested in discussing new technologies or a specific fluidic application, then the team at VFV are well equipped to assist you. Contact us today on +61 3 9873 1400 to talk about how we can help assist, or contact us here.