Australia Diagnostic Labs Market, By Provider Type (Hospital, Stand-Alone Centre, Diagnostic Chains), By Test Type (Radiology v/s Pathology), By End User (Corporate Clients, Walk-ins, Referrals), By Region, Competition Forecast & Opportunities, 2027

Australia Diagnostic Labs Market, By Provider Type (Hospital, Stand-Alone Centre, Diagnostic Chains), By Test Type (Radiology v/s Pathology), By End User (Corporate Clients, Walk-ins, Referrals), By Region, Competition Forecast & Opportunities, 2027

Australia diagnostic labs market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027, on the account of increasing demands for efficient diagnostic services. Moreover, evolving healthcare and patient services coupled with growing demands for early diagnosis and efficient treatment demands drive the growth of the Australia diagnostic labs market in the upcoming five years. Increasing investments in the healthcare sector and its involvement in advancing the healthcare infrastructure further play a vital role in the growth of the Australia diagnostic labs market in the next five years. The rising number of patients and growing instances of chronic diseases also aid the growth of the market.

Diagnostic labs are the healthcare infrastructure that is majorly inclined toward diagnostic practices for various kinds of diseases. The infrastructure preferably accommodates diagnosticians along with other healthcare practitioners including staff and nurses to facilitate pathological, microbiological, and radiological diagnostics. A general physician is often present to advise and consult the patients appearing for the diagnostic tests. Along with the test results the patients are later referred to a specific hospital or expert consultants for further treatment process. The diagnostic labs may function independently or in collaboration with hospitals thereby taking care of the diagnostic procedures required. Multiple tests like blood analysis, urine analysis, serum tests, and other pathological tests are conducted. These tests determine the presence of microorganisms in the body that cause various infectious diseases or the changes in the constituent of the blood & plasma to diagnose diseases. Diagnostic labs are fully equipped with medical devices, equipment, tools & technology that enables the diagnostic expert to perform the tests.

Growing Patient Burden Facilitates Market Growth

Rising instances of chronic diseases and infectious diseases among the population of the country drive the growth of the Australia diagnostic labs market in the upcoming five years. Chronic diseases like heart attacks and blood circulatory diseases have caused over 42% of the deaths every year in recent years that is about 118 deaths due to heart diseases every day. As of 2021, there were 4 million people with cardiovascular diseases out of which roughly 2 million are men and 1.6 million are female population.

In 2019 there were 327,174 new cases of cancer diagnosed in the country. Incidence rates rose between 1995 and 2013 but have fallen slightly since then. Incidence is 23% higher in men than in women. Over half of the people newly diagnosed with cancer are aged 70+. Thus, the rising geriatric population and their tendencies toward cancer further enhance the demand for earlier diagnostics and provision for effective treatment. Among people aged 25-54, cancer incidence rates are higher in women than in men. Among people aged 65+, incidence rates are around 50% higher in men than in women. Over half of the cancers fall into four types: prostate, breast, lung, and colorectal. Moreover, recovery chances among the older population are difficult as compared to the younger population thereby early diagnosis demands are further pushed up thus aiding the market growth.

Market Segmentation

The Australia diagnostic labs market is segmented by provider type, test type, end-user, competitional landscape, and regional distribution. Based on provider type, the market is fragmented into hospitals, stand-alone centers, and diagnostic chains. By test type, the market is differentiated between radiology and pathology. Based on end users, the market is bifurcated into corporate clients, walk-ins, and referrals. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern territory region, the New South Wales region, Victoria region, Western Australia region, Queensland region, Tasmania region, and the South Australia region.

Company Profile

Australian Clinical Labs, Healthscope Limited, Primary Health Care Limited, Sonic Healthcare, Ltd., Healius Limited, Austech Medical Laboratories, and I-Med Radiology Network Ltd, among others is a partial list of major market players of the companies responsible for the growth of Australia diagnostic labs market.

Report Scope:

In this report, Australia diagnostic labs market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Australia Diagnostic Labs Market, By Provider Type:
• Hospital
• Stand-Alone Centre
• Diagnostic Chains
• Australia Diagnostic Labs Market, By Test Type:
• Radiology
• Pathology
• Australia Diagnostic Labs Market, By End User:
• Corporate Clients
• Walk-ins
• Referrals
• Australia Diagnostic Labs Market, By Region:
• Northern Territory Region
• New South Wales Region
• Victoria Region
• Western Australia Region
• Queensland Region
• Tasmania Region
• South Australia Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Australia diagnostic labs market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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