New Delhi, December 27, 2018: The report titled “Australia Clinical (Diagnostic and Pathology) Services Market Outlook to 2023 – By Radiology Tests (Ultrasound, CT Scan, Diagnostic Radiology, MRI, Nuclear Medicine Imaging and Others) and Pathology Tests (Chemical, Microbiology, Tissue Pathology, Haematology, Patient Episode Initiation, Immunology and Others)” provides a comprehensive analysis of diagnostic imaging and pathology services industry in Australia. The report focuses on overall market size for diagnostic and pathology services in different states across Australia, market segmentation by requesting provider (GP, Specialist, Allied Health and Dentist), by type of test (Radiology Tests (Ultrasound, CT Scan, Diagnostic Radiology, MRI, Nuclear Medicine Imaging and Others) and Pathology Tests (Chemical, Microbiology, Tissue Pathology, Heamtology, Patient Episode Initiation, Immunology and Others)) and by state (NSW, VIC, QLD, WA, SA, TAS, ACT and NT). The report also covers Australia diagnostic imaging equipment market size and segmentation by equipment and a Snapshot on the POCT market in Australia.
The report also provides a holistic view of the overall clinical market (diagnostic & pathology) ecosystem, value chain analysis, mediclaim process, and medicare programme, growth drivers, restraints along with market share of leading clinical labs (I-MED Radiology, Sonic Healthcare, Primary Health Care, Integral Diagnostic, Capitol Health Limited, Qscan Radiology Clinics, PRP Diagnostic Imaging, Benson Radiology, Australian Clinical Labs, SA Pathology & Other Players).
The report also includes SWOT analysis, entry barriers, regulations for pathology laboratories, collection centres, packaging and quality control of specimens. The report also includes future projection for diagnostic imaging and pathology services market size and future projections by type of test in diagnostic and pathology services market. The report concludes with analyst recommendations highlighting the major opportunities and cautions.
Diagnostic Imaging Market Size
In terms of revenue, the Australian diagnostic imaging market has registered a constant growth with positive CAGR in last five years (FY’2012- FY’2018E). The diagnostic imaging market has witnessed an overall rise in bulk billing rates in 2017. Key initiatives in the last 5 years included increasing the number of MBS-eligible MRI machines and improved “appropriate requesting” by health professionals to promote more efficient and effective use of diagnostic imaging services. There has been an overall improvement in patient access to MRI services but “appropriate requesting” initiative was not substantively implemented.
Pathology Services Market Size
The pathology services market has also grown with a steady pace in the past few years. The pathology market in Australia is in its late growth stage. Australia is known to provide best value for money in pathology while maintaining high service quality, even better than US, Canada or Japan. Pathology sector has the highest bulk billing rate of any medical service in Australia.
Australia Diagnostic Imaging and Pathology Services Market Segmentation
Segmentation by Type of Tests
Diagnostic Imaging Market: The highest contribution in revenues in diagnostic imaging market is from ultrasound, followed by CT scan and diagnostic radiology tests. The least revenue contribution is from nuclear medicine imaging as cases in which these tests are ordered are very less. On the other hand revenue from MRI scans has grown at an overwhelming pace in the last five years.
Pathology Services Market: The highest revenue contribution in the pathology services market is from the chemical tests followed by microbiology and tissue pathology with the second and third highest revenue contribution. Immunology test had the least contribution in the overall revenues of the pathology services market in Australia.
Segmentation by Requesting Providers
Diagnostic Imaging Market: The highest contribution in revenues is from general practitioners (GP), followed by specialists, dentists and allied health providers. The number of GP’s has been rising in the country in past few years.
Pathology Services Market: In pathology service market, the majority of the revenue contribution is by the general practitioners followed by specialists. The contribution by dentists and allied health service providers is very minimal. Rise in number of pathology services was driven by growing prevalence of chronic diseases and incline in number of GPs.
Segmentation by State
Diagnostic Imaging Market: State wise, revenue share of New South Wales (NSW) has been the largest followed by Victoria (VIC) and Queensland (QLD). The least revenue share was from the Northern Territory (NT).
Pathology Services Market: In pathology services market as well New South Wales dominated the market followed by Victoria (VIC) and Queensland (QLD). The highest demand for pathology tests is from NSW while the least demand is from the Northern Territory (NT).
Competition
Diagnostic Imaging Market: Australia diagnostic imaging market is a fragmented space. Several private equity firms have ventured into the space and consolidation is well underway, with more mergers and acquisitions expected in the near future.
Pathology Services Market: Australia pathology services market is a consolidated space with a supermarket-style duopoly where top 2 players comprised for majority of the share of the market in FY’2018. In 2010, the government removed restrictions on the number of collection centers a pathology network could operate, resulting in intense competition for collection centers. Since deregulation the number of centers has more than doubled.
Future Projections
Diagnostic Imaging Market: The diagnostic imaging market is likely to grow at a positive CAGR during 2019-2023. The market will be driven by ageing population, addition of services to Medicare rebate such as cardiac and prostate MRI. Announcement of indexations in schedule fee by Medicare will also potentially aid in market growth in the near future.
Pathology Services Market: The revenue growth in pathology services is expected to be positive in coming years. The market will be driven by reversal to cuts in Bulk Bill incentives, implementation of national screening programs and rising trend of outsourcing by public hospitals to private service providers.
Key Segments Covered
By Type of Tests
Diagnostic Imaging
Pathology Services
By Requesting Provider
By State
Key Target Audience
Time Period Captured in the Report:
2012-2018 – Historical Period
2019-2023 – Future Forecast
Companies Covered:
Diagnostic Imaging and Pathology Services Companies:
Key Topics Covered in the Report
To know more, click on the link below:
Corporate Comm India(CCI Newswire)
By Dr. Priyanka Kuri, Consultant - Dermatology, Aster Whitefield Hospital, Bengaluru Insomnia, the persistent inability…
Illuminating Latest Advances in Migraine Diagnosis and Treatment New Delhi, December 21, 2024: In a…
New Delhi, December 20, 2024: The healthcare sector is undergoing a transformation fueled by technological…
National, December 20, 2024: DKMS just published its first Global Impact Report that outlines the organization's…
Ahmedabad, December 19, 2024: Sterling Biotech Limited, a joint venture between Perfect Day and Zydus, has…
New Delhi, December 19, 2024: Antara Senior Care, an integrated eco-system provider for lifestyle and…