Australia Diagnostic Labs (Radiology v/s Pathology) Markets, Competition, Forecasts & Opportunities, 2028F

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Jul 04, 2023, 12:00 ET

DUBLIN, July 4, 2023 /PRNewswire/ -- The "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, 2028" report has been added to ResearchAndMarkets.com's offering.

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.

Competitive Landscape

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

Australian Clinical Labs
Healthscope Limited
Primary Health Care Limited
Sonic Healthcare, Ltd.
Healius Limited
Austech Medical Laboratories
I-Med Radiology Network Ltd

Report Scope:

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

For more information about this report visit https://www.researchandmarkets.com/r/yt7c3r

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