With an ageing population and an increase in Medicare funding, Australia’s clinical services industry is booming and is only expected to continue its growth.
Diagnostic imaging services form an integral part of the healthcare system, helping to prevent, diagnose, treat and monitor injuries and illnesses. “Heightened demand for diagnostic imaging services, stemming from Australia's growing and ageing population, has driven industry revenue growth over the past five years.”
It is estimated the market will reach AU$9.6 billion in 2023.
Analysts at Ken Research in their latest publication Australia Clinical (Diagnostic and Pathology) Services Market Outlook 2023, believe that the Australian diagnostic imaging and pathology services market is likely to see further growth due to a rise in incidence and prevalence of chronic diseases, an increase in Medicare funding and an overall growing awareness of health and wellness across the country.
A profile of tomorrow's medical technology
What do we think Australia’s clinical services will look like in 2025 and beyond?
Diagnostic products will become higher tech and more advanced
Diagnostic services will become smarter and more intuitive
The use of smart devices, implants and bionics
Robotics will become more prevalent and possibly AI-operated
There will be active investing into the above technologies
Revenue for the Diagnostic Imaging Services industry is projected to continue growing over the next five years. The ongoing shift from basic diagnostic radiology towards more advanced procedures without radiation exposure, such as MRI, is anticipated to drive industry revenue growth.
Medicare schedule fees for these procedures are much higher and the Federal Government has begun indexing Medicare rebates for several industry services including ultrasounds, X-rays and CT scans.
With the continued growth in this sector, the AOYE Group are committed to supporting the industry which demands innovation and skilled personnel.
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