Australia and New Zealand Diagnostic Imaging Services Market Report and Forecast 2024-2032

Australia and New Zealand Diagnostic Imaging Services Market Outlook

The Australia and New Zealand diagnostic imaging services market size is anticipated to grow at a CAGR of 6.34% during the forecast period of 2024-2032, driven by the increasing incidence of oncological, cardiovascular, and musculoskeletal disorders.

Australia and New Zealand Diagnostic Imaging Services Market Overview

The growth of the market is being driven by the growing ageing population and increased prevalence of chronic diseases. This has led to an increase in healthcare expenditure and has significantly contributed to expanding diagnostic imaging services in the region. The growth of the Australia and New Zealand diagnostic imaging services market value is also driven by the growing burden of chronic diseases, like cardiovascular diseases and cancer, along with increased healthcare investments and technological advancements.

Continuous technological advancements in imaging technologies, coupled with a growing awareness among the population about the importance of early diagnosis, has further fueled the demand for diagnostic imaging services in Australia and New Zealand. In April 2021, Koninklijke Philips N.V. installed its most advanced digital diagnostic and interventional neurovascular imaging solutions at Westmead Hospital Australia, leading to the expansion of the diagnostic imaging services in the region.

Government initiatives aimed at improving healthcare infrastructure, reducing waiting times, and enhancing accessibility to healthcare services, have also been contributing to the rising Australia and New Zealand diagnostic imaging services market] share . Additionally, strategic collaborations among diagnostic imaging service providers, healthcare facilities, and technology companies, along with adopting telemedicine and teleradiology services, have positively impacted the market dynamics.

The regulatory support for maintaining high standards in diagnostic imaging services also ensures the reliability of diagnostic results, further fostering market growth. According to the Australian Institute of Health and Welfare, in Australia and New Zealand, chronic diseases together caused 85% of the total burden of disease, which is a similar figure to chronic diseases accounting for 90% of the burden due to deaths alone.

The Australia and New Zealand diagnostic imaging services market growth is being driven by advancements in medical technology and increasing healthcare awareness. This dynamic market is witnessing a rising demand for cutting-edge ultrasound devices, including portable and 3D/4D imaging systems. The regions’ healthcare infrastructure development, coupled with a growing elderly population, also contributes to the expanding market. Additionally, the emphasis on early disease detection and prenatal care fuels the adoption of ultrasound technology.

Increasing Disease Burden to Drive the Growth

The growing incidence of diseases, such as cancer and cardiovascular disorders, is aiding the rising demand for diagnostic imaging services, as early detection and accurate diagnosis are crucial for effective treatment. According to the Australian Prevention Partnership Centre statistics, in Australia, chronic diseases cause 9 out of every 10 preventable deaths 2 and account for 85% of years lost due to ill health or early death. This has facilitated the research and developmental activities and henceforth in the discovery of novel diagnostic imaging services in the market.

Rising Initiatives by the State Governments to Aid the Market

The state governments have formulated initiatives to improve healthcare infrastructure, enhance diagnostic capabilities, and ensure better accessibility to healthcare services playing a pivotal role in the Australia and New Zealand diagnostic imaging services market growth. Government investments in healthcare infrastructure projects and policies aimed at reducing waiting times for diagnostic procedures are notable in both countries. In May 2023, the Australian Government provided USD 8.3 million to improve training opportunities for specialist doctors in regional Australia through round two of the Flexible Approach to Training in Expanded Settings (FATES) program.

Rapid Technological Advancements to Benefit the Market

Continuous innovations in diagnostic imaging technologies, including MRI, CT, and ultrasound, are accelerating the market growth, as healthcare providers invest in advanced equipment to enhance diagnostic capabilities. The adoption of 3D mammography and the integration of artificial intelligence (AI) in diagnostic imaging is anticipated to boost the Australia and New Zealand diagnostic imaging services market size in the forthcoming years.

 
In June 2023, the Hospital for Special Surgery (HSS), the world's leading academic medical centre specialized in musculoskeletal health, and New Zealand-based medical device and technology company MARS Bioimaging Limited (MARS) collaborated for the MARS’s photon-counting spectral CT imaging technology. Through the HSS Innovation Institute, HSS and MARS will advance musculoskeletal imaging and diagnosis, including evaluation of specific aspects of the MARS 5x120 Extremity Scanner and potential co-development of new scanning technologies and systems.

Australia and New Zealand Diagnostic Imaging Services Market Segmentation

Market Breakup by Modality

• MRI

• Computed Tomography

• Ultrasound

• X-ray

• Nuclear Imaging

• Fluoroscopy

• Mammography

• Other Modalities

Market Breakup by Application

• Cardiology

• Oncology

• Neurology

• Orthopedics

• Gastroenterology

• Gynecology

• Other Applications

Market Breakup by End User

• Hospitals

• Imaging Centres

• Research Centres

Market Breakup by Country

• Australia

• New Zealand

Australia and New Zealand Diagnostic Imaging Services Market: Competitor Landscape

The diagnostic imaging market in Australia and New Zealand exhibits a moderate level of competitiveness, with prominent players. Key market leaders include Mindray Medical International Limited, Siemens Healthineers AG, GE Healthcare, Fujifilm Holdings Corporation, and Koninklijke Philips NV, among others.

In December 2023, Lunit, a leading provider of AI-powered solutions for cancer diagnostics and therapeutics, proposed an acquisition offer to Volpara Health Technologies Ltd., a global leader in AI-enabled software for the early detection and prevention of cancer. This strategic move comes as a result of an exhaustive evaluation of potential avenues for growth and innovation by Lunit.

The key features of the Australia and New Zealand diagnostic imaging services market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players.

The major companies in the market are as follows:

• Siemens Healthineers

• GE Healthcare

• Philips Healthcare

• Fujifilm Holdings Corporation

• Hologic, Inc.

• Hitachi Medical Corporation

• Shimadzu Corporation

• Carestream Health, Inc.

• Canon Medical Systems Corporation

• Toshiba Medical Systems Corporation (now part of Canon Medical Systems)

• Agfa-Gevaert Group

• Samsung Medison Co., Ltd.

• Aurora Imaging Technology, Inc.

• Esaote S.p.A.

• Mindray Medical International Limited

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report