Australia Ultrasound Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Australia Ultrasound Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Australia ultrasound devices market was valued at USD 164.55 million in 2021 and is projected to register a CAGR of 6.05% during the forecast period (2022-2027).

COVID-19 had an adverse impact on the ultrasound devices market in Australia. There was a sizable decrease in overall diagnostic imaging services during the first wave of COVID-19 in Australia, with varying effects on various imaging modalities. According to an article titled "The Impact of the COVID-19 Pandemic on Diagnostic Imaging Services in Australia" that was published in the Journal of Medical Imaging Radiation Oncology in 2020, total imaging services provided in March 2020 were statistically significantly lower. Services for nuclear medicine and CT had less of an impact than those for general radiography, ultrasound, and MRI. The market was harmed by the ultrasound diagnosis. However, as stated in the paper titled "Antenatal care during COVID-19, 2020" published by the Australian Institute of Health and Welfare. The number of claims for prenatal ultrasounds increased by 5% in 2020 compared to 2019. From the first quarter of 2018 through the second quarter of 2020, claims were constant, but the third and fourth quarters of 2020 saw a considerable rise. Compared to the third quarter of 2019, 362,480 claims for ultrasounds related to pregnancy were processed in the third quarter of 2020. Around 355,499 pregnancy-related ultrasound items were processed in the fourth quarter of 2019, an 8.8% increase over the third quarter. The rise may be attributable to heightened surveillance by some healthcare professionals in reaction to the possible effects of COVID-19 infections. Thus, the ultrasound market is positively influenced by Covid-19 in Australia.

The increasing burden of chronic diseases such as cardiovascular diseases and cancer coupled with the investment in the country, the ultrasound devices market is expected to grow in Australia. According to a report from the Australian Institute of Health and Welfare from July 2020, the prevalence of coronary heart diseases (CHDs) rises sharply with age, affecting roughly 1 in 7 adults aged 75 and older. The burden of CHDs is further anticipated to rise among the country's growing geriatric population, which will also support the growth of the studied market. This is anticipated to positively affect the country's market for ultrasound devices. According to Cancer Australia 2021, in 2021, In Australia, 3,830 new cases of thyroid cancer are expected to be diagnosed (1,070 males and 2,760 females). By the age of 85, a person's probability of being diagnosed with thyroid cancer is projected to be 1 in 83 (or 1.2 %) (1 in 145 or 0.69 % for males and 1 in 58 or 1.7 % for females). Thyroid cancer has resulted in the deaths of 156 people (85 men and 71 women). The rising incidence of thyroid cases will create the demand for ultrasound devices which is expected to boost the studied market in the country. The Heart of Australia program, which includes the provision of mobile medical clinic services across northern Queensland, received backing and expansion funding from the Australian government in April 2021 totaling about USD 12 million. Heart monitoring and other services are accessible through the mobile medical clinic. The government's assistance in delivering cardiovascular care will increase demand for ultrasonic equipment and propel the market's expansion. Thus, the abovementioned factors are expected to increase market growth.

Key Market TrendsHigh-intensity Focused Ultrasound Segment is Expected to Hold a Significant Market Share Over the Forecast Period

Focused ultrasonic energy is a non-invasive method for tissue ablation, it can be used to treat a variety of solid tumours. High-intensity focused ultrasound is being utilised more frequently to treat both primary and metastatic tumours because it can accurately identify tumours for ablation. High-intensity focused ultrasound is a potential therapy option for liver tumours in patients with significant medical co-morbidity who are at high risk for surgery or who have a relatively low liver function that may limit hepatectomy. Factors such as the increasing prevalence of cancer coupled with research studies are expected to increase the market growth. According to the GLOBOCAN 2020 report, Australia reported 200,021 new cases of cancer in 2020, and the total number of cancer cases over a five-year period was 2,808,997. Additionally, the same report predicted that the number of cancer cases would increase to 244,177 by 2030 and 284,785 by 2040. With the rising prevalence of cancer in the nation, the demand for ultrasound devices is anticipated to rise for the detection and diagnostics of cases of cancer/tumour, which will fuel the growth of the studied market. The whole-gland High-Intensity Focused Ultrasound (HIFU) presents a potential alternative minimally invasive and safe option for the treatment of localised prostate cancer, according to the study published in "Survival and quality of life outcomes of high-intensity focused ultrasound treatment of localised prostate cancer" in "Prostate International" in March 2020. This would lead to an increase in the demand for HIFU systems for the minimally invasive treatment of prostate cancer in Australia, leading to higher adoption of HIFU systems in Australian healthcare and predicted to fuel the expansion of the HIFU systems market in Australia. Hence, the above developments pertaining to high-intensity focused ultrasound systems, it is expected to drive the market growth in this region.

Competitive Landscape

Australia ultrasound devices market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Mindray Medical International Limited, Siemens Healthineers AG, GE Healthcare, Fujifilm Holdings Corporation, and Koninklijke Philips NV among others.

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