Increasing expenditure on latest healthcare facilities to drive Australia diagnostic imaging market
According to TechSci Research report, “Australia Diagnostic Imaging Market By Type (X-Ray Imaging Solutions, Ultrasound Systems, MRI Systems, CT Scanners, Nuclear Imaging Solutions, Mammography, Others), By Mobility (Portable v/s Standalone), By Source (Domestic Vs Import), By Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others), By End Users (Hospitals & Clinics, Diagnostic Centers, Ambulatory Care Centers, Others), By Component (OEM v/s Refurbished), By Region, Forecast & Opportunities, 2025”, the Australia diagnostic imaging market is expected to grow at a steady rate during the forecast period on account of the use of advanced technology solutions such as contract based radiology, AI, blockchain, among others, in the diagnostic imaging field. Additionally, use of diagnostic imaging has increased for study and teaching purposes in the hospitals and universities, which is expected to create lucrative opportunities for the market growth. Furthermore, growing number of MBS eligible MRI machines in the country is expected to spur the market growth. Besides, growing geriatric population is also expected to positively influence the market growth over the next few years. Moreover, technological innovations and new product launches by the major players operating in the market are expected to further fuel the market growth during the forecast period. However, high cost of equipment manufacturing coupled with the strict Medicare licensing norms might impede the market growth and limit the distribution of diagnostic imaging equipment and machinery through 2025. Also, the side effects due to radiations might further restrict the market growth over the next few years.
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The Australia diagnostic imaging market is segmented based on type, mobility, source, application, end users, company and region. Based on mobility, the market can be split into portable and standalone. Among these, the standalone segment is expected to dominate the market owing to their cost effectiveness and widespread adoption and use across healthcare industry. Based on application, the market can be categorized into cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology and others. Here, the cardiology segment is expected to dominate the market owing to the growing prevalence of cardiovascular diseases in the country. Based on end users, the market can be divided into hospitals & clinics, diagnostic centers, ambulatory care centers and others. Out of these, the hospitals & clinics segment is expected to dominate the market owing to the growing number of diagnostic imaging procedures being performed in the hospitals & clinics.
I-MED Network Pty Limited, Sonic Healthcare Limited, Healius Limited, Integral Diagnostics Limited, Capitol Health Limited, Qscan Radiology Clinics, PRP Diagnostic Imaging Pty Limited, Benson Radiology, Clinical Laboratories Pty. Ltd. (Australian Clinical Labs), SA Pathology and others are some of the leading players operating in Australia diagnostic imaging market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“New South Wales leads the overall diagnostic imaging market followed by Victoria and Queensland. The Australia diagnostic imaging market is a well-established one and fragmented in nature with a large number of major players expanding their facilities in the country coupled with entry of new local players in the market. Hence, the market is expected to grow steadily. Additionally, increasing coverage in medicare for different diseases and associated diagnostic tests along with announcement of indexation in schedule fee by medicare is further expected to create lucrative opportunities for the market growth through 2025,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Australia Diagnostic Imaging Market By Type (X-Ray Imaging Solutions, Ultrasound Systems, MRI Systems, CT Scanners, Nuclear Imaging Solutions, Mammography, Others), By Mobility (Portable v/s Standalone), By Source (Domestic Vs Import), By Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others), By End Users (Hospitals & Clinics, Diagnostic Centers, Ambulatory Care Centers, Others), By Component (OEM Vs Refurbished), By Region, Forecast & Opportunities, 2025”,” has evaluated the future growth potential of Australia diagnostic imaging market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Australia diagnostic imaging market.
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