Australia Radiology Services Market by Type (Services, Product), Procedure (Conventional, Digital), Patient Age (Adults, Pediatric), Radiation Type (Diagnostics, Interventional Radiology), Application (Cardiology, Pelvic and Abdominal, Oncology, Neurology, Urology, Musculoskeletal, Gynecology, Dental, Others), Distribution Channel (Hospitals, Ambulatory Centers, Diagnostic Centers, Clinics, country (Australia) Market Trends and Forecast to 2027.
Market Analysis and Insights: Australia Radiology Services Market
Australia radiology services market is expected to gain market growth in the forecast period of 2019 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 10.9% in the forecast period of 2019 to 2027 and expected to reach USD 56,058.73 million by 2027. Increasing life expectancy and increasing prevalence of lifestyle related diseases are the major factors contributing to the growth of radiology services in Australia.
As per the estimates of Australian Institute of Health and Welfare, one in two Australians have at least one of the eight common chronic diseases including cardiovascular disease, diabetes, mental health conditions, back pain problems, chronic obstructive pulmonary disease, arthritis, asthma and cancer. The institute have also estimated that chronic diseases account for 87% of deaths in the country. This kind of disease burden is augmenting the radiology services market in Australia.
This Australia radiology services market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Australia Radiology Services Market Scope and Market Size
Australia Radiology services market is segmented of the basis of type, procedure, patient age, radiation type, application, and end users. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, Australia radiology services market is segmented into services and products. The Australia radiology services market is dominated by the services segment. One of the primary factors attributed to the growth of the radiology services in Australia is ability to reciprocate to massive demand. The country’s the public health system is accessed by patients for free or at a lower cost through Medicare (funded by tax). The favourable reimbursement scenario coupled with competent healthcare infrastructure is boosting the growth of radiology services in Australia.
- On the basis of procedure, Australia radiology services market is segmented into conventional and digital. The highest share is held by conventional radiology procedures due to highest number of scans performed. These services are available even in rural and remote areas and hence available to a larger share of population.
- On the basis of patient age, Australia radiology services market is segmented into adults and paediatrics. The highest share is held by adults largely attributed to management of chronic diseases. Chronic conditions account for 61% of total disease burden of the country leading to high demand for diagnostic imaging services.
- On the basis of radiation type, Australia radiology services market is segmented into diagnostics and interventional radiology. The market share for diagnostics is higher with the increasing number of patients accessing diagnostic imaging services. As per the Australian diagnostic imaging association, more than nine million Australians were estimated to access 24 million individual radiology services including x-ray, ultrasound, CT, and MRI scans in the FY 2017-18.
- On the basis of application, Australia radiology services market is segmented into cardiology, pelvic and abdominal, oncology, neurology, urology, musculoskeletal, gynaecology, dental, and others. The application of radiology services in diagnosis and management of cardiovascular diseases is boosting the market. Coronary heart disease is responsible for 8% of the total disease burden in Australia whereas strokes encompass 3% of the total disease burden in Australia.
- On the basis of end users, Australia radiology services market is segmented into hospitals, ambulatory centers, diagnostic centers and clinics. Hospitals hold the highest share amongst the end users primarily due to favourable government initiatives. Medicare benefits and the Australian Health Care Agreement effectively fund the public hospitals to deliver radiology services to outpatients which favor the growth of the market in the region.
Australia Radiology Services Market Country Level Analysis
Australia radiology services market is analysed and market size information is provided by country, type, procedure, patient age, radiation type, application, and end users as referenced above.
The country covered in the radiology services market report is Australia.
High number of computed tomography performed for various indications and presence of well-established radiology service chain are the major factors which stimulates the radiology services market in Australia.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Strategic Initiatives by Australia Radiology Services For Market Acquisition
Australia radiology services market also provides you with detailed market analysis for every country growth in radiology services market, volume of imaging exams, impact of technological development and changes in regulatory scenarios with their support for the radiology services market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Australia Radiology Services Market Share Analysis
Australia and New Zealand radiology services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Australia radiology services market.
The major players covered in the report are Koninklijke Philips N.V., Siemens, GE Healthcare, Medica Reporting Ltd., Sonic Healthcare, 4ways Limited, Everlight Radiology, Althea UK, InHealth Group, Global Diagnostics, Healius Limited, Alliance Medical, Vital Radiology Services, DMC Healthcare, I-MED Radiology Network and others among other players domestic. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and developments are also initiated by the companies worldwide which are also accelerating the Australia radiology services market.
Collaboration, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for Australia radiology services through expanded model range. For instance, in August 2019, macquarie university and macquarie medical imaging has announced partnership with GE healthcare and Fujitsu Australia on artificial intelligence research for diagnosis and monitoring of brain aneurysms with faster and more efficient scans. Fujitsu’s AI technologies will be applied to images generated by the revolution CT scanner from GE, and create an AI assistant to automatically flag potential aneurysms that will enable accurate follow-ups.
Customization Available : Australia Radiology Services Market
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