Australia Medical Device Market Is Set To Reach USD 4.56 Billion By 2025
Australia Medical Device Industry Size, Share, Trends, Demand
According to Goldstein Research, Australia medical device market is expected to reach USD 4.56 billion by the end of 2025, growing at a CAGR of 10% over the forecast period, 2017-2025. The portability of the devices coupled with the technology as the smaller size of the advanced medical devices also brings down costs by eliminating concerns with storage, portability, and weight is propelling the growth of Australia medical device market. Australia medical device market segmentation has been done on the basis of product type, the area of use, and end-user. In-vitro diagnostics (IVD) equipment dominated the Australian medical device market and accounted for the market share of 35% in 2017 owing to a large number of aging residents with multiple chronic health issues.
Australia Medical device market witnessed total healthcare spending in 2016 over USD 137 billion and healthcare expenditures was 9.4% of total GDP which is distributed among government sector (67%) and private sector (33%). Australia’s healthcare industry is sophisticated and receptive to the new product.
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On the basis of our in-depth analysis, Australian medical Device Market can be segmented as follows:
By Product Type
o Dental equipment and supplies
o Electro-medical equipment
o In-Vitro Diagnostics
o Irradiation apparatuses
o Surgical and medical instruments
o Surgical appliances and supplies
By Area Of Use
o Inpatient Care
o Outpatient Care
o Special Areas
o Patient Self-Monitoring
o Relative Medical Indication
By End User
o Diagnostic Labs
o Homecare Settings
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“Australia Medical Device Market Outlook 2024”contains a detailed overview of the Australia Medical device market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, an area of use and end-users.
Further, for the in-depth analysis, Australian medical Device Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Johnston & Johnson, Philips Healthcare, Medtronic Inc., GE Healthcare, Siemens AG, Novartis AG, Stryker Corp., 3M Company, Abbott Laboratories, Toshiba Corp., Becton, Dickinson and Co., Baxter International Inc., Cardinal Health Inc., Boston Scientific Corp., Allergan Inc., Zimmer Biomet, Danaher Corp., DentsplySirona, Essilor International S.A.,Covidien plc., etc.
The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report represents the Australian medical device market trends along with a market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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