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Historical Year
Forecast Year
The Australia and New Zealand in vitro diagnostics market size is expected to grow at a CAGR of 5.4% during the forecast period of 2024-2032, driven by rising technical advancements to develop new diagnostic tools along with increasing expenditures and investments in the healthcare domain across the region.
The in vitro diagnostics market in Australia and New Zealand has witnessed significant growth driven owing to factors like advancements in diagnostic techniques and increasing adoption of molecular diagnostics, point of care testing and digital technologies to offer early detection and prevention of diseases. In 2023, around 154,000 new cancer cases are expected to be diagnosed in the Australian population. As in vitro diagnostics find its application in cancer detection, the Australia and New Zealand in vitro diagnostics market demand is predicted to grow in the coming years.
The market is further driven by the increased government efforts to offer awareness on early diagnosis and preventive healthcare. The region has been witnessing a significant surge in investments to improve and upgrade the diagnostic facilities as well.
Surge in Research and Development Activities to Develop New Diagnostic Devices
In September 2023, the scientists of Peter Doherty Institute for Infection and Immunity (Doherty Institute) and WEHI (Walter and Eliza Hall Institute of Medical Research) developed MPXV-CRISPR, the first CRISPR based diagnostic tool to detect monkeypox virus (MPXV) in clinical samples. Leveraging the extremely sensitive and powerful technology, the diagnostic tool is designed to target genetic sequences present exclusively in MPXV. The advent of the novel tool can be a breakthrough to help in monkey pox infection detection and treatment as the conventional lab tests take multiple days to provide results. The increasing emphasis on preventing the spread of infectious diseases, especially after the sudden outbreak of COVID-19 is anticipated to bolster the Australia and New Zealand in vitro diagnostics market growth in upcoming years.
Growth in Government Investments
In June 2023, the Australian Government granted USD 73 million to upgrade and implement new medical technologies across the region. The investment was divided into 19 different projects wherein, around USD 9.8 million was aimed at offering cancer treatment with the Targeted Alpha Therapy and around USD 2.9 million was set aside to support Australia’s first human microbiome bank. The investment is poised to help the scientists with research and development to develop better solutions for fatal diseases. In addition, increased investments from private ventures and other entities are also expected to increase the Australia and New Zealand in vitro diagnostics market size.
Rising Prevalence for Remote Test Kits
In July 2023, Trajan Scientific and Medical registered a collection of Neoteryx’s remote micro sampling devices and test kits. Mitra® has been classified as Class I in vitro diagnostic (IVD) medical device by the Therapeutic Goods Administration (TGA) in Australia while Mitra® Sample Collection Kit has been titled as a Class IIa medical device for home use. Contributing to the emerging trend of telehealth and remote monitoring, the devices are expected to boost the Australia and New Zealand in vitro diagnostics market share by offering personalized solutions to the patients. The devices offer self-guided specimen collection, owing to its easy to use and finger stick method. Specimens collected through the devices have been used to examine antibodies against SARS-CoV-2, inflammatory biomarkers, PSA for prostate cancer screenings, and more.
Market Breakup by Technology
Market Breakup by Product and Services
Market Breakup by Applications
Market Breakup by End User
Market Breakup by Country
In the forecast period, Australia is expected to lead the market for in vitro diagnostics, which can be attributed to the rising investments in the healthcare medical infrastructure. In March 2023, researchers from the University of Sydney were awarded USD 47 million to support their investigations on younger onset-dementia and treatment of blinding eye diseases through stem cell therapies. The Government of Australia also presented their support for enhanced research activities by launching the Medical Research Future Fund (MRFF) grant.
With the rising prevalence of geriatric population and a surge in budding technology driven start-ups, the market is likely to witness further growth.
New Zealand is also predicted to witness significant growth. In December 2022, Pictor, a New Zealand based start-up, expanded their product pipeline to apply cost effective, accurate, and prompt testing services for diseases by deploying multiple innovative approaches. The start-up raised USD 5 million and successfully launched PictArray SARS-CoV-2 IgG Antibody Test.
In December 2023, the Bridgewest Group announced their expansion of biomedical operations in Bentley, Perth with the help of USD 2 million investment from the Western Australian Government. The expansion is aimed at boosting local manufacturing of several medical products along with the installation of new automated blow, fill, and seal line of products. Apart from boosting the infrastructure and facilities, the initiative is expected to offer 400 jobs to the local community, boosting the overall economy as well. The market has been experiencing similar investment initiatives and partnerships to enhance the quality of solutions and facilities being offered to the patients.
The key features of the Australia and New Zealand in vitro diagnostics market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Technology |
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Breakup by Product and Services |
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Breakup by Applications |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Australia and New Zealand In Vitro Diagnostics Market Size
Australia and New Zealand In Vitro Diagnostics Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is anticipated to grow at a CAGR of 5.4% during the forecast period of 2024-2032, likely to be driven by increasing technical advancements to develop new diagnostic tools along with growing expenditures and government investments in the healthcare domain across the region.
The market demand is driven by the rising prevalence of chronic diseases in the region, owing to an aging population along with rising emphasis on improving the medical research infrastructure.
The growing advancements in upgrading and launching new research facilities is a major market trend. In September 2023, the Australian scientists developed MPXV-CRISPR, the first CRISPR based diagnostic tool to detect monkeypox virus (MPXV) in clinical samples.
Based on technology, the market is divided into clinical chemistry, molecular diagnostics, immuno diagnostics, and hematology, among others.
Major end users include diagnostic laboratories, hospitals and clinics, academic institutes, and point-of-care testing centres, among others.
Instruments, reagents and kits, services, and data management software are common products and services available in the market.
Common application areas include infectious disease, diabetes, cancer/oncology, cardiology, and autoimmune disease, among others.
Based on countries, it includes Australia and New Zealand.
Key players involved in the market are BioMerieux SA., F. Hoffmann-La Roche Ltd., Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Abbott Laboratories, Inc., Siemens AG, Thermo Fisher Scientific, Inc., QIAGEN N.V., Roche Diagnostics, Danaher Corporation, Agilent Technologies, Inc., Diasorin S.P.A, Illumina, Inc., Hologic, Inc., and Quidel Corporation.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
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+63 287899028, +63 967 048 3306
United Kingdom
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+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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