So I have done some research, and there are many human medicine equivalents (human medicine is not my area)
3M makes Coban, some Euro version etc and I found TGA approval for a compression bandaging kit that contains the product. While it does not appear to be directly approved by the TGA, I suspect it does not require approval.
All in all, I use and will continue to use it both medically as well as for random things around the house.
Greg