Australia and New Zealand Diagnostic Imaging Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Australian and New Zealand Medical Imaging Equipment Manufacturers and the market is segmented by Modality (MRI, Computed Tomography, Ultrasound, X-ray, Nuclear Imaging, Fluoroscopy, Mammography), Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Other Applications), End User (Hospital, Diagnostic Centers, Others). The market provides the value (in USD million) for the above-mentioned segments.

Australia and New Zealand Diagnostic Imaging Equipment Market Size

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Australia Diagnostic Imaging Equipment Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.11 %
Market Concentration Low

Major Players

Australia Diagnostic Imaging Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Australia and New Zealand Diagnostic Imaging Equipment Market Analysis

The Australia and New Zealand diagnostic imaging equipment market is expected to register a CAGR of nearly 6.11% during the forecast period (2022-2027).

With the rapid development of diagnostics, expedited regulatory approvals, and increased distribution in various regions to help slow the spread of the virus, the COVID-19 pandemic has shone a spotlight on the diagnostics industry around the world. The rising demand for COVID-19 diagnosis is primarily expected to drive up the demand for diagnostic products in Australia and New Zealand. According to a study published in July 2021, titled 'The impact of the COVID19 pandemic on diagnostic imaging services in Australia,' it was found that nuclear medicine and computed tomography (CT) services were relatively less impacted than general radiography, ultrasound, and magnetic resonance imaging (MRI) services. Nuclear imaging services performed in March 2020 decreased by 10.1%, in April 2020 by 24.6% and in May 2020 by 12.3%, followed by a significant increase in June 2020 by 11.0%. Thus, the COVID-19 pandemic is expected to have a significant impact on the market.

The market studied is driven by several factors, such as growing technological advancements, including handheld X-ray and upright MRI, and increasing interest among researchers regarding medical imaging equipment. Diagnostics imaging is a novel and advanced technique for the diagnosis of several diseases such as cancer, cardiovascular diseases and other neurological disorders. Increase in prevalence of such disorders will boost the demand for studied market. According to the estimates of the Global Cancer Observatory, in 2020, there were an estimated 200,021 new cancer cases diagnosed and 48,236 cancer deaths in Australia. Moreover, according to the Australian Institutes of Health and Welfare in September 2021, based on information from the Australian Bureau of Statistics 2020-21 National Health Survey and self-reported data, an estimated 571,000 Australians aged 18 and over (2.9% of the adult population) had Coronary heart disease (CHD) in 2020-21. With age, the prevalence of CHD rises sharply; it affects 1 in 9 (11%) of adults aged 75 and over. Additionally, in Newzealnd prevalence of chronic diseases such as cancer, heart disease , orthopedic diseases is expected to boost the market growth. For instance, according to the Cancer Society of New Zealand in April 2022, a total of 80,000 New Zealanders are diagnosed with skin cancer each year, which accounts for 80% of all new cases of cancer. As a result, greater demand for diagnostic imaging equipment is anticipated in New Zealand due to the rising prevalence of chronic diseases such as cancer, which commonly necessitates imaging studies for the assessment of cancer patients.

Technological advancement in diagnostics imaging equipment expected to boost the segment growth over the forecast period. For instance, April 2021, Koninklijke Philips N.V. installed its most advanced digital diagnostic and interventional neurovascular imaging solutions at Westmead Hospital Australia. Thus, above mentioned factors expected to boost the market growth. However, high cost of advanced imaging devices restraint the market growth over the forecast period.

Australia and New Zealand Diagnostic Imaging Equipment Market Trends

This section covers the major market trends shaping the Australia & New Zealand Diagnostic Imaging Equipment Market according to our research experts:

X-ray Segment Captures the Largest Market Share and is Expected to Retain its Dominance over the Forecast Period

An X-ray is a non-invasive medical test that helps physicians diagnose and treat medical conditions. Imaging with X-rays involves exposing a part of the body to a small dose of ionizing radiation to produce pictures of the inside of the body. The rising number of fractures is expected to aid as a key contributor to the market. According to the International Osteoporosis Foundation in September 2021, about 30,000 fragility fractures occur in New Zealand each year, mostly in people who are 50 or older. Additionally, there are currently 155,000 claims for falls and fracture-related injuries among New Zealanders over the age of 65. Thus, the growing number of fractures in the country is expected to drive the demand for X-rays as this equipment is one of the technologies used in the diagnosis of fractures related injuries.

Increasing in product innovation and technological advancement in Australia and New Zealand by key market players is expected to boost the imaging equipment market. In October 2021, Micro-X launched the Rover mobile x-ray machine. The Micro-X Rover is a mobile X-ray machine that weighs around 100 kg (compared to 600 kg for competitor products). First developed for the Australian Defence Force, its small size and rugged features make it ideal for field hospitals or facilities in remote locations.

Thus, all aforementioned factors expected to boost the segment growth over the forecast period.

Australia & New Zealand Diagnostic Imaging Equipment Market : Estimated Number Of New Cancer Cases (In Thousands), By Type, Australia, 2020

Australia and New Zealand Diagnostic Imaging Equipment Industry Overview

The presence of major market players, such as Canon Medical Systems Ltd, Carestream Health, GE Healthcare, Koninklijke Philips NV, and Siemens Healthineers, is expected to increase the overall market competition. Companies are trying to gain a sustainable competitive advantage through innovation, while maintaining their consumer base through interactive upgrades in product segments. There is significant competition on the basis of product innovation, connectivity, and ease of operation in the portable diagnostic imaging equipment segment.

Australia and New Zealand Diagnostic Imaging Equipment Market Leaders

  1. Siemens AG

  2. Koninklijke Philips NV

  3. GE Healthcare

  4. Carestream Health

  5. Canon Australia Pty Ltd

*Disclaimer: Major Players sorted in no particular order

Australia Diagnostic Imaging Equipment Market Concentration
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Australia and New Zealand Diagnostic Imaging Equipment Market News

  • In May 2022, The Australian medical technology company EMVision has developed portable brain imaging technology. 
  • In May 2022, Toku Eyes, a healthcare AI company located in New Zealand, has unveiled a technology that assesses heart risk using a retinal scan. Compared to conventional risk calculators, the ORAiCLE application uses an AI platform to identify cardiovascular dangers.

Australia and New Zealand Diagnostic Imaging Equipment Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Technological Advancements

      2. 4.2.2 Growth Burden of Chronic Diseases

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Advanced Diagnostic Imaging Devices

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 5.1 By Modality

      1. 5.1.1 MRI

      2. 5.1.2 Computed Tomography

      3. 5.1.3 Ultrasound

      4. 5.1.4 X-ray

      5. 5.1.5 Nuclear Imaging

      6. 5.1.6 Fluoroscopy

      7. 5.1.7 Mamography

    2. 5.2 By Application

      1. 5.2.1 Cardiology

      2. 5.2.2 Oncology

      3. 5.2.3 Neurology

      4. 5.2.4 Orthopedics

      5. 5.2.5 Gastroenterology

      6. 5.2.6 Gynecology

      7. 5.2.7 Other Applications

    3. 5.3 By End User

      1. 5.3.1 Hospital

      2. 5.3.2 Diagnostic Centers

      3. 5.3.3 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Canon Medical Systems Ltd

      2. 6.1.2 Carestream Health

      3. 6.1.3 Esaote

      4. 6.1.4 Fujifilm Holdings Corporation

      5. 6.1.5 GE Healthcare

      6. 6.1.6 Hologic Inc.

      7. 6.1.7 Koninklijke Philips NV

      8. 6.1.8 Siemens Healthcare GmbH

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments
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Australia and New Zealand Diagnostic Imaging Equipment Industry Segmentation

This report includes an in-depth study of the Australia & New Zealand diagnostic imaging equipment market (henceforth, referred to as the market studied). Diagnostic imaging is used to take images of the internal structure of the human body, using electromagnetic radiation, for an accurate diagnosis of the patient. There are various modalities in medical imaging, the most common ones being CT scans and MRI systems. The Australia and New Zealand Diagnostic Imaging Equipment Market is segmented by Modality (MRI, Computed Tomography, Ultrasound, X-ray, Nuclear Imaging, Fluoroscopy, Mamography), Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Other Applications), End User (Hospital, Diagnostic Centers, Others). The report offers the value (in USD million) for the above segments.

By Modality
MRI
Computed Tomography
Ultrasound
X-ray
Nuclear Imaging
Fluoroscopy
Mamography
By Application
Cardiology
Oncology
Neurology
Orthopedics
Gastroenterology
Gynecology
Other Applications
By End User
Hospital
Diagnostic Centers
Others
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Australia and New Zealand Diagnostic Imaging Equipment Market Research FAQs

The Australia and New Zealand Diagnostic Imaging Equipment Market is projected to register a CAGR of 6.11% during the forecast period (2024-2029)

Siemens AG, Koninklijke Philips NV, GE Healthcare, Carestream Health and Canon Australia Pty Ltd are the major companies operating in the Australia and New Zealand Diagnostic Imaging Equipment Market.

The report covers the Australia and New Zealand Diagnostic Imaging Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia and New Zealand Diagnostic Imaging Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Australia & New Zealand Medical Imaging Equipment Industry Report

Statistics for the 2024 Australia & New Zealand Medical Imaging Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia & New Zealand Medical Imaging Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Australia and New Zealand Diagnostic Imaging Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)