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Australia and New Zealand Radiology Services Market Size: By Type: Products, Services; By Procedure: Conventional, Digital; By Patient Age: Adults, Pediatric; By Radiation Type: Diagnostics, Interventional Radiology; By Application: Cardiovascular, Oncology, Gynecology, Others; By End User; Regional Analysis; Supplier Landscape; 2024-2032
Australia and New Zealand Radiology Services Market Outlook
The Australia and New Zealand radiology services market size is expected to grow at a CAGR of 6.4% during the forecast period of 2024-2032, driven by the increasing incidence of an aging population and chronic diseases across the region.
Australia and New Zealand Radiology Services Market Overview
The diagnostic imaging services in Australia have been witnessing a steady growth with an increase of 11.3% in January to March 2023. There has been a subsequent rise the demand for MRI and CT services as well. In 2023, the incidence for MRI services increased by 10.2% while CT services witnessed an upswing by 15.5%. The rising requirements can be accredited to growing geriatric population. As per the World Health Organization data, the world’s population aged 60 years or above is expected to grow by 22% between 2015 and 2050. As chronic diseases such as cancer, and cardiac diseases, Alzheimer, dementia, and arthritis coincide with an aging population, radiology services are expected to witness a significant growth in the forecast period.
Rising Integration of Software and Digital Tools to Drive Australia and New Zealand Radiology Services Market Growth
The medical diagnostic landscape is witnessing the convergence of digital and software aided tools to offer prompt, precise, and cost-effective results. The application of software provides effective monitoring and evaluation as well. In October 2023, I-MED Radiology implemented DOSE radiation software in their CT scanners. DOSE software collates the patient reports and offers a structured analysis, while ensuring patient safety and adherence to quality standards as well. Deployed on 166 CT scanners, the software optimizes the entire experience by providing real-time email alerts within 48 business hours.
Infrastructure Development to Provide Improved Services
In September 2023, Canberra Hospital installed three novel Tesla (T) MRI machines with the help of ACT Government’s USD 9 million investment. The increasing investments to improve and upgrade the infrastructure and offer high quality patient solutions is poised to bolster the Australia and New Zealand radiology services market share in the coming years. Combined with new computed tomography (CT) scanners, the new equipment reduces the scan time and allows high quality imagery by providing extra power in each scan.
New Product Launches to Drive Market Growth
In October 2023, the Australian Health Support Services (HSS), with their Medical Imaging Replacement Program (MIRP), a major ICT initiative, introduced a new Enterprise Medical Imaging Platform (EMIP) . The new equipment replaces the existing Picture Archiving and Communication System / Radiology Information System (PACS/RIS) while offering additional clinical functionalities. It provides enhanced imaging solutions, system stability and improves responsiveness as well. The Australia and New Zealand radiology services market size is expected to expand with such product launches in the upcoming years.
Increasing Application of Computation Biology to Provide Advanced Results
With the sudden outbreak of COVID-19, radiologist shortage was a major area of concern in Australia and New Zealand. In addition, the distribution of services across the region varied leading to maldistribution of resources. To address the dynamic demographics and meet the growing Australia and New Zealand radiology services market demand, the convergence of machine learning algorithms are one of the major market trends. In September 2023, the scientists at University of Canterbury (New Zealand) deployed image processing algorithms to analyze specific regions of an image at high resolution. Using computational pathology, they aim at automating the algorithms to analyze tissue characteristics.
Australia and New Zealand Radiology Services Market Segmentation
Market Breakup by Type
- Products
- Services
Market Breakup by Procedure
- Conventional
- Digital
Market Breakup by Patient Age
- Adults
- Pediatric
Market Breakup by Radiation Type
- Diagnostics
- Interventional Radiology
Market Breakup by Application
- Cardiovascular
- Oncology
- Gynecology
- Neurology
- Urology
- Dental
- Pelvic and Abdominal
- Musculoskeletal
- Others
Market Breakup by End User
- Hospitals
- Ambulatory Centers
- Diagnostic Centers
- Clinics
- Others
Market Breakup by Country
- Australia
- New Zealand
Australia and New Zealand Radiology Services Market Regional Analysis
The rising prevalence of chronic diseases in the aging population is one of the major market trends influencing the market. Australia is anticipated to witness a significant rise in the cancer incidence, with 1.7 million cases expected to be diagnosed between 2022 and 2031. Hence, the radiology services market demand is expected to surge. Consequently, the government initiatives to improve the healthcare infrastructure play a pivotal role in driving market growth. In 2023, the Australian government invested around USD 4 billion in their healthcare sector, with major emphasis on offering digital health and provide targeted digital medicines.
In the forecast period, New Zealand is poised to experience expedited radiology services market growth, owing to rising emergence of technology driven start-ups along with a significant influx of investments from key healthcare providers.
Australia and New Zealand Radiology Services Market: Competitor Landscape
In May 2023, TRG Imaging , the radiology arm of Canopy Healthcare opened a new Canning Road Clinic in Hawke Bay, New Zealand, which accommodates the Siemens 3T MRI (magnetic resonance imaging) machine. The increasing investments for infrastructure expansion to offer early diagnosis and improved treatment pathways is a major market trend. With a USD 3 million investment, the division aims to establish a new PET-CT scanner and Therapy Centre in early 2024 as well.
The key features of the Australia and New Zealand radiology services market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Hitachi, Ltd.
- Siemens AG
- CANON MEDICAL SYSTEMS CORPORATION
- GENERAL ELECTRIC
- Koninklijke Philips N.V.
- Aspect Imaging Ltd.
- AURORA HEALTHCARE US CORP
- FONAR Corp.
- Neusoft Corporation
- Sanrad Medical Systems Private Limited
- FUJIFILM Holdings Corporation
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
- Quality Electrodynamics, LLC
- Hologic, Inc.
- ONEX Corporation
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of 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 Type |
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| Breakup by Procedure |
|
| Breakup by Patient Age |
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| Breakup by Radiation Type |
|
| Breakup by Application |
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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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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Australia and New Zealand Radiology Services Market Overview
3.1 Australia and New Zealand Radiology Services Market Historical Value (2017-2023)
3.2 Australia and New Zealand Radiology Services Market Forecast Value (2024-2032)
4 Australia and New Zealand Radiology Services Market Dynamics
4.1 Market Drivers and Constraints
4.2 SWOT Analysis
4.3 Porter’s Five Forces Model
4.4 Key Demand Indicators
4.5 Key Price Indicators
4.6 Industry Events, Initiatives, and Trends
4.7 Value Chain Analysis
5 Australia and New Zealand Radiology Services Market Segmentation
5.1 Australia and New Zealand Radiology Services Market by Type
5.1.1 Market Overview
5.1.2 Products
5.1.3 Services
5.2 Australia and New Zealand Radiology Services Market by Procedure
5.2.1 Market Overview
5.2.2 Conventional
5.2.3 Digital
5.3 Australia and New Zealand Radiology Services Market by Patient Age
5.3.1 Market Overview
5.3.2 Adults
5.3.3 Pediatric
5.4 Australia and New Zealand Radiology Services Market by Radiation Type
5.4.1 Market Overview
5.4.2 Diagnostics
5.4.3 Interventional Radiology
5.5 Australia and New Zealand Radiology Services Market by Application
5.5.1 Market Overview
5.5.2 Cardiovascular
5.5.3 Oncology
5.5.4 Gynecology
5.5.5 Neurology
5.5.6 Urology
5.5.7 Dental
5.5.8 Pelvic and Abdominal
5.5.9 Musculoskeletal
5.5.10 Others
5.6 Australia and New Zealand Radiology Services Market by End User
5.6.1 Market Overview
5.6.2 Hospitals
5.6.3 Ambulatory Centers
5.6.4 Diagnostic Centers
5.6.5 Clinics
5.6.6 Others
5.7 Australia and New Zealand Radiology Services Market by Country
5.7.1 Market Overview
5.7.2 Australia
5.7.3 New Zealand
6 Patent Analysis
6.1 Analysis by Type of Patent
6.2 Analysis by Publication year
6.3 Analysis by Issuing Authority
6.4 Analysis by Patent Age
6.5 Analysis by CPC Analysis
6.6 Analysis by Patent Valuation
6.7 Analysis by Key Players
7 Grants Analysis
7.1 Analysis by year
7.2 Analysis by Amount Awarded
7.3 Analysis by Issuing Authority
7.4 Analysis by Grant Application
7.5 Analysis by Funding Institute
7.6 Analysis by NIH Departments
7.7 Analysis by Recipient Organization
8 Funding Analysis
8.1 Analysis by Funding Instances
8.2 Analysis by Type of Funding
8.3 Analysis by Funding Amount
8.4 Analysis by Leading Players
8.5 Analysis by Leading Investors
8.6 Analysis by Geography
9 Partnership and Collaborations Analysis
9.1 Analysis by Partnership Instances
9.2 Analysis by Type of Partnership
9.3 Analysis by Leading Players
9.4 Analysis by Geography
10 Regulatory Framework
10.1 Regulatory Overview
11 Supplier Landscape
11.1 Hitachi, Ltd.
11.1.1 Financial Analysis
11.1.2 Product Portfolio
11.1.3 Demographic Reach and Achievements
11.1.4 Mergers and Acquisitions
11.1.5 Certifications
11.2 Siemens AG
11.2.1 Financial Analysis
11.2.2 Product Portfolio
11.2.3 Demographic Reach and Achievements
11.2.4 Mergers and Acquisitions
11.2.5 Certifications
11.3 CANON MEDICAL SYSTEMS CORPORATION
11.3.1 Financial Analysis
11.3.2 Product Portfolio
11.3.3 Demographic Reach and Achievements
11.3.4 Mergers and Acquisitions
11.3.5 Certifications
11.4 GENERAL ELECTRIC
11.4.1 Financial Analysis
11.4.2 Financial Portfolio
11.4.3 Demographic Reach and Achievements
11.4.4 Mergers and Acquisitions
11.4.5 Certifications
11.5 Koninklijke Philips N.V.
11.5.1 Financial Analysis
11.5.2 Product Portfolio
11.5.3 Demographic Reach and Achievements
11.5.4 Mergers and Acquisitions
11.5.5 Certifications
11.6 Aspect Imaging Ltd.
11.6.1 Financial Analysis
11.6.2 Product Portfolio
11.6.3 Demographic Reach and Achievements
11.6.4 Mergers and Acquisitions
11.6.5 Certifications
11.7 AURORA HEALTHCARE US CORP
11.7.1 Financial Analysis
11.7.2 Product Portfolio
11.7.3 Demographic Reach and Achievements
11.7.4 Mergers and Acquisitions
11.7.5 Certifications
11.8 FONAR Corp.
11.8.1 Financial Analysis
11.8.2 Product Portfolio
11.8.3 Demographic Reach and Achievements
11.8.4 Mergers and Acquisitions
11.8.5 Certifications
11.9 Neusoft Corporation
11.9.1 Financial Analysis
11.9.2 Product Portfolio
11.9.3 Demographic Reach and Achievements
11.9.4 Mergers and Acquisitions
11.9.5 Certifications
11.10 Sanrad Medical Systems Private Limited
11.10.1 Financial Analysis
11.10.2 Product Portfolio
11.10.3 Demographic Reach and Achievements
11.10.4 Mergers and Acquisitions
11.10.5 Certifications
11.11 FUJIFILM Holdings Corporation
11.11.1 Financial Analysis
11.11.2 Product Portfolio
11.11.3 Demographic Reach and Achievements
11.11.4 Mergers and Acquisitions
11.11.5 Certifications
11.12 Shenzhen Mindray Bio-Medical Electronics Co., Ltd
11.12.1 Financial Analysis
11.12.2 Product Portfolio
11.12.3 Demographic Reach and Achievements
11.12.4 Mergers and Acquisitions
11.12.5 Certifications
11.13 Quality Electrodynamics, LLC
11.13.1 Financial Analysis
11.13.2 Product Portfolio
11.13.3 Demographic Reach and Achievements
11.13.4 Mergers and Acquisitions
11.13.5 Certifications
11.14 Hologic, Inc.
11.14.1 Financial Analysis
11.14.2 Product Portfolio
11.14.3 Demographic Reach and Achievements
11.14.4 Mergers and Acquisitions
11.14.5 Certifications
11.15 ONEX Corporation
11.15.1 Financial Analysis
11.15.2 Product Portfolio
11.15.3 Demographic Reach and Achievements
11.15.4 Mergers and Acquisitions
11.15.5 Certifications
12 Australia and New Zealand Radiology Services Market - Distribution Model (Additional Insight)
12.1 Overview
12.2 Potential Distributors
12.3 Key Parameters for Distribution Partner Assessment
13 Key Opinion Leaders (KOL) Insights (Additional Insight)
14 Company Competitiveness Analysis (Additional Insight)
14.1 Very Small Companies
14.2 Small Companies
14.3 Mid-Sized Companies
14.4 Large Companies
14.5 Very Large Companies
15 Payment Methods (Additional Insight)
15.1 Government Funded
15.2 Private Insurance
15.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market is anticipated to grow at a CAGR of 6.4% during the forecast period of 2024-2032, driven by the rising incidence of geriatric population and chronic diseases across the region.
The market demand is driven by the rising emphasis on improving the infrastructure, increasing prevalence of chronic diseases, and increasing government initiatives to promote technical advancements.
New product launches aimed at facilitating improved solutions to the patients is a major market trend. In October 2023, the Australian Health Support Services (HSS), with their Medical Imaging Replacement Program (MIRP), a major ICT initiative, introduced a new Enterprise Medical Imaging Platform (EMIP) at the Royal Perth Hospital.
Based on types, the market is divided into products and services.
Conventional and digital are common procedure types.
Based on radiation types, the market is segmented into diagnostics and interventional radiology.
Major end users include hospitals, ambulatory centers, diagnostic centers, clinics, and others.
They are applied on adults and pediatrics.
Common application areas include cardiovascular, oncology, gynecology, neurology, urology, dental, pelvic, and abdominal, musculoskeletal and others.
It includes Australia and New Zealand.
Key players involved in the market are Hitachi, Ltd., Siemens AG, CANON MEDICAL SYSTEMS CORPORATION, GENERAL ELECTRIC, Koninklijke Philips N.V., Aspect Imaging Ltd., AURORA HEALTHCARE US CORP, FONAR Corp., Neusoft Corporation, Sanrad Medical Systems Private Limited, FUJIFILM Holdings Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Quality Electrodynamics, LLC., Hologic, Inc. and ONEX Corporation.
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