DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
In terms of revenue, the Australian diagnostic imaging market has registered a constant growth with positive CAGR in the 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 the best value for money in pathology while maintaining high service quality, even better than the 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 the 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 the past few years.
- Pathology Services Market: In the 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. The rise in the number of pathology services was driven by the growing prevalence of chronic diseases and incline in the 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).
- Diagnostic Imaging Market: Australia diagnostic imaging market is a fragmented space. Several private equity firms have ventured into 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 the majority of the share of the market in FY'2018. In 2010, the government removed restrictions on the number of collection centres a pathology network could operate, resulting in intense competition for collection centres. Since deregulation, the number of centres has more than doubled.
- Diagnostic Imaging Market: The diagnostic imaging market is likely to grow at a positive CAGR during 2019-2023. The market will be driven by an ageing population, the 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 the market growth in the near future.
- Pathology Services Market: The revenue growth in pathology services is expected to be positive in the 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
- CT Scan
- Diagnostic Radiology
- Nuclear Medicine Imaging and Others
- Tissue Pathology
- Patient Episode Initiation
- Immunology and Others
By Requesting Provider
- Allied Health
- New South Wales (NSW)
- Victoria (VIC)
- Queensland (QLD)
- Western Australia (WA)
- South Australia (SA)
- Tasmania (TAS)
- Australian Capital Territory (ACT)
- Northern Territory (NT)
Key Target Audience
- Diagnostic Imaging Service Provider Companies
- Pathology Service Provider Companies
- Private Hospitals
- Diagnostic Imaging and Pathology services equipment and consumables providers
- Private Equity Ventures
Time Period Captured in the Report:
- 2012-2018 - Historical Period
- 2019-2023 - Future Forecast
- Diagnostic Imaging and Pathology Services Companies:
- 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
For more information about this report visit https://www.researchandmarkets.com/r/ryi8w1