Medical and Surgical Equipment Manufacturing in Australia - Industry Market Research Report

Medical and Surgical Equipment Manufacturing in Australia - Industry Market Research Report

Medical and Surgical Equipment Manufacturing in Australia

Medical and surgical equipment manufacturers are thriving, unlike most other manufacturing industries which are dwindling because of a hike in production costs and fierce import competition. Australia's ageing population and expanding healthcare sector have boosted domestic demand for medical and surgical equipment. Yet, it was the outbreak of COVID-19 that caused sales to explode, surging up 31.9% in 2020-21. The pandemic intensified demand for medical and surgical equipment across private and public hospitals, with mainly using ventilators, infusion systems and renal care products in intensive care units to treat the virus. While demand for these goods strengthened, lockdown periods and restrictions on elective surgeries hit sales of other products like dental equipment and hearing aids. All in all, industry revenue has been growing at an annualised 8.3% over the past five years and is expected to total $7.0 billion in 2022-23, when revenue will climb by an estimated 2.4%

Industry firms primarily manufacture medical, surgical and dental equipment. Firms that mainly manufacture ophthalmic equipment are excluded from the industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."