Australia's Diagnostic Imaging Services market size was valued at $6.3 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030 and will reach $10.3 Bn in 2030. The market is segmented by product, application, and end user. The Australia Diagnostic Imaging Services market will grow as there is a shortage of qualified radiologists and imaging technologists in some areas, leading to longer wait times and delays in diagnosis and treatment. The key market players are Sonic Healthcare Limited (AUS), I-MED Radiology Network (AUS), Capitol Health Limited (AUS), Integral Diagnostics Limited (AUS), and others.
Australia's Diagnostic Imaging Services market size was valued at $6.3 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030 and will reach $10.3 Bn in 2030. To provide images of the inside of the body that are used to diagnose and treat medical disorders, diagnostic imaging uses a variety of medical imaging technologies. X-rays, CT scans, MRIs, ultrasounds, and nuclear medicine imaging are some of these imaging methods. A beam of radiation is sent through the body when the patient is positioned between an X-ray machine and a specific film or detector during an X-ray. Radiologists and other medical professionals can interpret the picture on the film or detector created by the radiation absorption by the bodily tissues to various degrees.
The use of medical imaging technology to create images of the inside of the body for the purpose of diagnosing and treating medical disorders is known as diagnostic imaging.
Due to an ageing population and an increase in the frequency of chronic illnesses, there is a rising need for diagnostic imaging services in Australia. Companies now have the chance to increase their service offerings in response to the rising demand. The diagnostic imaging sector is no exception to Australia's rapid adoption of new technology. Businesses may obtain a competitive edge in the market by using and adopting the newest imaging technology. The COVID-19 pandemic has pushed telemedicine adoption in Australia, creating a business opportunity for organisations that can deliver diagnostic imaging services remotely.
Diagnostic imaging services are desperately needed in Australia's rural and regional communities. Businesses who are able to develop into these regions can take advantage of a large growth potential. Diagnostic imaging businesses have a chance to collaborate closely with healthcare professionals to provide patients a more streamlined and effective service as healthcare becomes more integrated. Overall, the diagnostic imaging market in Australia offers a number of possibilities for businesses that can extend their services, innovate, and adapt to customers' and healthcare providers' evolving demands.
Market Growth Drivers
The rise in the prevalence of chronic illnesses, the rising need for less invasive operations, and improvements in medical imaging technology are some of the reasons driving the diagnostic imaging market in Australia. The frequency of chronic illnesses including cancer, cardiovascular conditions, and neurological problems is increasing as the population ages, creating a greater need for diagnostic imaging services. Also, the need for less invasive operations has increased the requirement for precise and thorough imaging to guide treatments, which is propelling the development of the diagnostic imaging market.
Market Restraints
Australia's diagnostic imaging market is also hampered by a number of factors. The high cost of imaging equipment and related maintenance and operating costs is one of the key issues the market is now dealing with. In some regions, there is also a dearth of radiologists and imaging techs who are certified, which causes lengthier wait times and holds up diagnosis and treatment. Regulations and compliance standards are also applicable to the sector, which can make operations more difficult and expensive. The business is nonetheless challenged by worries about the possible health dangers linked to exposure to ionising radiation during particular imaging procedures.
Key Players
November 2020: A renowned Queensland-based provider of radiological services, Imaging Queensland, has been acquired by Australian diagnostic imaging company Capitol Health.
February 2021: To improve its radiological imaging platform, the imaging software business Mach7 Technologies established a cooperation with Medical-Objects, an Australian health information management company.
August 2021: Telstra Health, announced a partnership with imaging solutions provider, Jadelink, to bring Jadelink's medical imaging platform to Telstra Health's network of healthcare providers in Australia.
September 2021: Change Healthcare, announced the launch of their new medical imaging platform, Change Healthcare Cardiology, which is designed to improve efficiency and clinical outcomes for cardiology imaging services.
October 2021: Australian medical imaging provider, I-MED Radiology Network, announced a partnership with technology company, NVIDIA, to incorporate artificial intelligence (AI) into their imaging platform, with the goal of improving diagnostic accuracy and efficiency.
The Australian Radiation Protection and Nuclear Safety Agency (ARPANSA), which is in charge of creating and enforcing rules and regulations to guarantee the safe and effective use of ionising radiation in medical imaging, oversees diagnostic imaging in Australia.
The ARPANSA establishes standards and recommendations for the education and licencing of radiologists and radiographers as well as for the safe use of medical imaging equipment. Radiation exposure limits, quality control practises, and equipment testing and calibration are only a few of the topics covered by these standards.
Moreover, the Australian Government Department of Health oversees the financing and payment of diagnostic imaging services under the Medicare Benefits Schedule (MBS). This entails establishing criteria for the accreditation of imaging centres and specialists as well as prices and regulations for diagnostic imaging services that are eligible for Medicare reimbursements.
1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Producta
Six product categories make up the market: mammography systems, CT scanners, ultrasound, MRI, and X-ray machines. The technology expected to expand the fastest during the projected period is CT scanners. Their broad application in hospitals and imaging centres for cancer and pulmonary screening, the expansion of their application horizon to include dentistry and interventional procedures, the availability of reimbursements in developed countries, and the ongoing digitalization of healthcare systems all contribute to their significant growth potential.
By Application
The market is divided into several modalities, such as mammography systems, MRI systems, ultrasound systems, X-ray imaging systems, CT scanners, and nuclear imaging systems, based on the applications they are used for. Cardiology under CT scanners, brain and neurological MRI under MRI systems, radiology and general imaging under ultrasound systems, general radiography applications under X-ray imaging systems, and cancer under nuclear imaging systems made up the majority of the applications in 2021. Among all application categories of the diagnostic imaging market in 2021, general radiography applications under the X-ray imaging systems application represented the greatest market share.
By End User
The various end-user segments of the worldwide diagnostic imaging services market include hospitals, ambulatory surgical centres, diagnostic centres, and others. Hospitals are the main consumers of diagnostic imaging services, making them a critical market for service providers. Hospitals see a large influx of patients because they offer a wide variety of diagnostic imaging technology for patients. Due to the rise in the recommendation of diagnostic imaging tests for speedy and precise detection of patient medical conditions, the hospitals sector held the highest share of the market in 2022.
Methodology for Database Creation
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How Do We Get It?
Our database is created and maintained through a combination of secondary and primary research methodologies.
1. Secondary Research
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2. Primary Research
To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:
Combining Secondary and Primary Research
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