Press Release

Australia Diagnostic Labs Market Experiences Growth With Increasing Healthcare Infrastructure Construction

Australia Diagnostic Labs Market is anticipated to grow with rising chronic disease instances, in the forecast period, 2023-2027F.

According to TechSci report on, “Australia Diagnostic Labs Market - By Region, Competition Forecast & Opportunities, 2027” Australia diagnostic labs market might register an impressive CAGR during the forecast period, 2023-2027, to establish growth due to factors like advancing healthcare services in the country aided with increased investment from government. Growing instances of chronic diseases among the population of the country, along with rising geriatric population that is highly susceptible to chronic diseases and infectious diseases and therefore surge in the demands for diagnosis drives the growth of the Australia diagnostic labs market in the upcoming five years. Increasing numbers of healthcare experts such as highly qualified staff, volunteers, diagnostic experts, etc. also aid to the growth of the Australia diagnostic labs market in the next five years. The Australia healthcare industry is highly functional with the support of National Health Services (NHS). For the advancement in the healthcare and diagnostic services, the authority bodies are actively investing in the advancement & development of the healthcare infrastructures like hospitals and diagnostic centers, that further aids the growth of the Australia diagnostic labs market in the future five years.


The
diagnostic labs industry in the country may have experienced sudden jump in its growth due to factors like sudden increasing demands for diagnostic procedures for COVID-19 infection. Although after the extreme demands in the last two years, the sector experiences scarcity of laboratory resources along with hike in the cost of these resources pertaining to the worldwide growing demands. Moreover, the growth in the market is also influenced because of the technical advancement in the infrastructure. Technologically advanced products and highly developed equipment are utilized, online services to book the appointments, and receive the results through online modes, etc. have further enhanced the diagnostic services and thereby substantiating the growth of the Australia diagnostic labs market in the forecast years through 2027.


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The Australia diagnostic labs market is segmented by provider type, test type, end user, competitional landscape, and regional distribution. By test type, the market is differentiated between radiology and pathology. Radiology test type is anticipated to hold the largest revenue shares of the market and dominate the market segment due to increasing instances of cancer among the population in the country. Rising sensitivity for the geriatric population being affected with cancer further fuels the growth of the segment along with the growth of the Australia diagnostic labs market in the future five years. Pathology segment is anticipated to register significant growth too due to increasing instances of infectious diseases. Rising concerns regarding evolving pathogens and severity of the diseases like COVID-19 is also aiding to the growth of the Australia diagnostic labs market in the next five years.


Based on provider type, the market is fragmented into hospital, stand-alone center, and diagnostic chains. Hospitals are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of increasing patient count in the recent year. Moreover, availability of the finances allows the development of advanced diagnostic segment in the infrastructure and thus aids the growth of the Australia diagnostic labs market in the next five years. Stand alone centers are also expected to hold significant shares in the future five years on the grounds of increasing number of concerned populations. Growing awareness about the regular diagnostic tests and their advantage in identifying the diseases and infections in due time to access timely treatment, which is also aiding to the growth of the Australia diagnostic labs market in the forecast period. Based on end user, the market is bifurcated into corporate clients, walk-ins, and referrals.


A partial list of major market players of the Australia diagnostic labs market includes

·         Australian Clinical Labs

·         Healthscope Limited

·         Primary Health Care Limited

·         Sonic Healthcare, Ltd.

·         Healius Limited

·         Austech Medical Laboratories

·         I-Med Radiology Network Ltd


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“Australia healthcare industry is rapidly expanding and providing world-class healthcare services to its population. The highly qualified healthcare workers, advanced technology adoption, enhanced & improving healthcare services, along with the growing investment in the sector are responsible for the industrial growth in the country. National Health Service is the major healthcare provider in the country. The system works with the taxation system in the country that finances the healthcare industry and provides unbiased healthcare service to everyone in the country. Moreover, growing awareness about the diseases and advantage of early diagnosis guarantees the growth of the Australia diagnostic labs market in the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.


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 has evaluated the future growth potential of Australia diagnostic labs market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Australia diagnostic labs market.


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