Australia Ultrasound Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 195.13 Million |
| Market Size (2029) | USD 261.94 Million |
| CAGR (2024 - 2029) | 6.05 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Ultrasound Devices Market Analysis
The Australia Ultrasound Devices Market size is estimated at USD 195.13 million in 2024, and is expected to reach USD 261.94 million by 2029, growing at a CAGR of 6.05% during the forecast period (2024-2029).
Factors such as the increasing prevalence of chronic diseases and technological advancements in ultrasound devices are expected to contribute to the market's growth.
The increasing burden of chronic diseases such as cardiovascular diseases and cancer are the major drivers for market growth. For instance, according to the data published by the Australian Institute of Health and Welfare in August 2023, around 4,100 new cases of thyroid cancer were diagnosed, among which 70% of them were prevalent in females. The same source also stated that the incidence of thyroid cancer was 21 cases per 100,000 females and 9.6 cases per 100,000 males in Australia in 2023. Ultrasound is the ideal imaging modality for detecting and evaluating a thyroid nodule. It is easy to perform and widely available and does not involve ionizing radiation. Thus, increasing cases of thyroid cancer in the country are expected to increase the demand for ultrasound devices, propelling the market growth.
The increasing funding by the Australian government to strengthen imaging services in the country is expected to drive market growth. For instance, in December 2023, Concord Hospital granted USD 23,819 (AUD 35,000) for the health initiative Pitch funding, in which intestinal ultrasound can be used to determine inflammatory bowel disease among patients, thus was expected to improve patient experience and outcomes with clinical informed decision-making. Therefore, such governmental health initiatives are anticipated to boost the usage of ultrasound devices in hospitals and thus contribute to the country's market growth.
Technological advances in Australia related to ultrasound are expected to boost market growth. For instance, in November 2022, Caption Health announced new regulatory approvals to market its Caption AI technology platform from Health Canada's Medical Devices Directorate and Australia's Therapeutic Goods Administration. This platform will allow any healthcare professional in Australia and Canada to perform cardiac ultrasounds without previous experience with sonography.
In June 2022, Mindray launched a new ultrasound product, the Imagyn I9 Ultrasound System, that addressed OB/GYN practices' unique needs. The new system featured unique design elements that focused on usability and ergonomics within the OB/GYN space. It is equipped with raised sensor ports, a fully free-floating user interface, and customizable E-Ink keys. Therefore, considerable market growth is expected over the forecast period.
Thus, factors such as the growing burden of chronic diseases, governmental health initiatives, and technological advancements in ultrasound devices are expected to contribute to the country's market growth. However, stringent regulations related to ultrasound devices in Australia may restrain the market鈥檚 growth during the forecast period.
Australia Ultrasound Devices Market Trends
The Segment for High-intensity Focused Ultrasound is Expected to Hold a Significant Market Share Over the Forecast Period
Focused ultrasonic energy is a non-invasive method for tissue ablation, and it can be used to treat a variety of solid tumors. High-intensity focused ultrasound is utilized more frequently to treat primary and metastatic tumors because it can accurately identify tumors for ablation. High-intensity focused ultrasound is a potential therapy option for liver tumors in patients with significant medical co-morbidity who are at high risk for surgery or have a relatively low liver function that may limit hepatectomy.
Factors such as the increasing cancer prevalence and research studies on high-intensity focused ultrasound devices are expected to increase segment growth. For instance, according to the data published by the Australian Institute of Health and Welfare in August 2023, around 165,000 new cancer cases were diagnosed in Australia in 2022. The same source also stated that the age-adjusted cancer incidence rate among males was 731 cases per 100,000 males and 536 cases per 100,000 females in Australia in 2023. With the high prevalence of cancer in the nation, the demand for ultrasound devices is anticipated to rise as it is commonly used to detect and diagnose cancer/tumors.
Whole-gland high-intensity focused ultrasound (HIFU) presents a potential alternative minimally invasive and safe option for treating localized prostate cancer. For instance, according to the article published by the Cancer Australia Organization in October 2023, the organization provides various treatment options for the treatment of prostate cancer, including high-intensity-focused ultrasound therapy in which an endorectal proof is utilized to generate high-energy ultrasound waves to destroy cancerous cells with heat. Thus, this may lead to increased demand for HIFU systems for the minimally invasive treatment of prostate cancer in Australia, leading to higher adoption of HIFU systems in Australian healthcare.
Government investments to develop advanced healthcare infrastructure with advanced technology are anticipated to drive market growth in the country. For instance, in July 2023, the Victorian government invested USD 10.09 million (AUD 14.83 million) in the National Imaging Facility's (NIF) research infrastructure in Victoria to boost its critical imaging abilities with the integration of next-generation high-intensity focused ultrasound, The Florey, to treat Parkinson's disease. Thus, such government initiatives are expected to boost the adoption of high-intensity focused ultrasound devices, boosting market growth.
Hence, considerable segmental growth is expected in Australia over the forecast period due to factors like the prevalence of cancer, significant applications in cancer treatment, and government initiatives.
The Gynecology/Obstetrics Segment is Expected to Witness Considerable Growth Over the Forecast Period
In obstetrics, transvaginal ultrasound can assess fetal brain anatomy and development, especially during the first trimester, or diagnose problems such as placenta previa. Ultrasound is the safest option for the mother and baby to see structures in motion. In addition, it also helps to see the heart in motion, and these images help obstetricians more clearly assess the development during pregnancy. The gynecologic ultrasound is used to diagnose conditions in the cervix, fallopian tubes, ovaries, uterus, vagina, and bladder in women. In men, it is used to analyze the bladder, the prostate gland, and seminal vesicles.
The increasing number of cases of gynecological diseases in Australia is one of the major factors propelling the demand for ultrasound. For instance, according to the research article published by the Australian Cancer Research Foundation in July 2022, ovarian cancer is the eighth most commonly diagnosed cancer in Australian women. Compared to other gynecological cancers in Australia, ovarian cancer has the highest mortality rate at 4.8% of all cancers in women annually. The same source also stated that approximately 1,800 Australian women are diagnosed annually; internationally, the number of diagnoses reaches almost a quarter of a million.
Similarly, according to the report published by Cancer Australia in July 2022, around 1,815 new cases of ovarian cancer were diagnosed in Australia in 2022. The same source also stated that it was estimated that by the age of 85, a woman has a 1.2% chance of being diagnosed with ovarian cancer, including serous carcinomas of the fallopian tube. Thus, such an increasing burden of gynecological diseases in Australia is expected to increase the demand for ultrasound devices, thereby propelling segmental growth over the forecast period.
Australia Ultrasound Devices Industry Overview
The Australian ultrasound devices market is moderately competitive and has several major players. Some companies dominating the market are Mindray Medical International Limited, Siemens Healthineers AG, GE Healthcare, Fujifilm Holdings Corporation, and Koninklijke Philips NV.
Australia Ultrasound Devices Market Leaders
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GE Healthcare
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Siemens Healthineers AG
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Fujifilm Holdings Corporation
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Koninklijke Philips NV
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Mindray Medical International Limited
*Disclaimer: Major Players sorted in no particular order
Australia Ultrasound Devices Market News
- March 2024: Getz Healthcare increased product availability and accessibility to healthcare services for individuals living in Australia with neurological conditions such as medication-refractory essential tremor with the introduction of the Medicare Benefits Schedule (MBS) listing of magnetic resonance-guided, focused ultrasound treatment. This treatment utilizes specialized ultrasound technology to provide targeted brain therapy without an incision.
- January 2024: Claris Mobile Health provided dual-array wireless PAL HD3 ultrasound scanners to doctors and nurses in urban and rural hospitals in Australia, which helped healthcare providers diagnose diseases faster and provide clinical treatment for patients at the bedside.
Australia Ultrasound Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Chronic Diseases
4.2.2 Technological Advancements
4.3 Market Restraints
4.3.1 Stringent Regulations
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Application
5.1.1 Anesthesiology
5.1.2 Cardiology
5.1.3 Gynecology/Obstetrics
5.1.4 Musculoskeletal
5.1.5 Radiology
5.1.6 Critical Care
5.1.7 Other Applications
5.2 By Technology
5.2.1 2D Ultrasound Imaging
5.2.2 3D and 4D Ultrasound Imaging
5.2.3 Doppler Imaging
5.2.4 High-intensity Focused Ultrasound
5.3 By Type
5.3.1 Stationary Ultrasound
5.3.2 Portable Ultrasound
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Canon Medical Systems Corporation
6.1.2 SonoScape Medical Corp
6.1.3 Fujifilm Holdings Corporation
6.1.4 GE Healthcare
6.1.5 Hologic Inc.
6.1.6 Koninklijke Philips NV
6.1.7 Mindray Medical International Limited
6.1.8 Samsung Electronics Co. Ltd.
6.1.9 Esaote SPA
6.1.10 Siemens Healthineers AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Australia Ultrasound Devices Industry Segmentation
A diagnostic ultrasound, also known as sonography, is an imaging technique that uses high-frequency sound waves to produce images of the different structures inside the body. They assess various kidney, liver, and other abdominal conditions. They are also majorly used in chronic diseases, including heart disease, asthma, cancer, and diabetes. Therefore, these devices are being utilized as diagnostic imaging and therapeutic modalities and have a wide range of applications in the medical field.
The Australian ultrasound devices market is segmented by application, technology, and type. By application, the market is segmented into anesthesiology, cardiology, gynecology/obstetrics, musculoskeletal, radiology, critical care, and other applications. By technology, the market is segmented into 2D ultrasound imaging, 3D and 4D ultrasound imaging, doppler imaging, and high-intensity focused ultrasound. By type, the market is segmented into stationary ultrasound and portable ultrasound. For each segment, the market size is provided in terms of value (USD).
| By Application | |
| Anesthesiology | |
| Cardiology | |
| Gynecology/Obstetrics | |
| Musculoskeletal | |
| Radiology | |
| Critical Care | |
| Other Applications |
| By Technology | |
| 2D Ultrasound Imaging | |
| 3D and 4D Ultrasound Imaging | |
| Doppler Imaging | |
| High-intensity Focused Ultrasound |
| By Type | |
| Stationary Ultrasound | |
| Portable Ultrasound |
Australia Ultrasound Devices Market Research FAQs
How big is the Australia Ultrasound Devices Market?
The Australia Ultrasound Devices Market size is expected to reach USD 195.13 million in 2024 and grow at a CAGR of 6.05% to reach USD 261.94 million by 2029.
What is the current Australia Ultrasound Devices Market size?
In 2024, the Australia Ultrasound Devices Market size is expected to reach USD 195.13 million.
Who are the key players in Australia Ultrasound Devices Market?
GE Healthcare, Siemens Healthineers AG, Fujifilm Holdings Corporation, Koninklijke Philips NV and Mindray Medical International Limited are the major companies operating in the Australia Ultrasound Devices Market.
What years does this Australia Ultrasound Devices Market cover, and what was the market size in 2023?
In 2023, the Australia Ultrasound Devices Market size was estimated at USD 183.32 million. The report covers the Australia Ultrasound Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Ultrasound Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Ultrasound Devices Industry Report
Statistics for the 2024 Australia Ultrasound Devices market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Australia Ultrasound Devices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
