Australia MedTech Market Overview 2023-2028
The Australia MedTech market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.7% during 2023-2028.
Medical technology, commonly known as MedTech, comprises a broad spectrum of innovative solutions and devices that are designed to improve healthcare delivery and patient outcomes. It focuses on enhancing diagnostic accuracy, treatment efficacy, and overall patient care. It assists in addressing various medical challenges and streamlining healthcare processes. As it aids in improving the experience of patients and healthcare providers, the demand for MedTech is rising in Australia.
Australia MedTech Market Trends and Drivers:
At present, the increasing demand for non-invasive and personalized healthcare solutions among individuals represents one of the major factors supporting the growth of the market in Australia. Apart from this, the rising prevalence of chronic disease among the masses is contributing to the market growth in the country. In addition, the growing demand for medical technologies that enable early diagnosis, provide continuous monitoring, and offer targeted treatments is offering a positive market outlook in Australia. Additionally, the increasing focus on proactive and individualized approaches is bolstering the growth of the market in the country. Furthermore, the emergence of novel medical devices and digital health platforms that cater to specific medical conditions is impelling the growth of the market in Australia. Moreover, the rising focus on patient-centric approaches is propelling the growth of the market.
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Australia MedTech Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Alcidion Group Limited, Anatomics Pty Ltd, Artrya, AusBiotech, Avanade Australia (Accenture), Cochlear Limited, Ellex, ResMed Inc., Schott AG and Sirtex Medical Limited
The report segmented the market on the basis of region, type, component, deployment type, application and end user.
Breakup by Type:
- Telehealth
- Medical Wearables
- EMR/EHR Systems
- Medical Apps
- Healthcare Analytics
- Others
Breakup by Component:
- Software
- Hardware
- Service
Breakup by Deployment Type:
- On-Premises
- Cloud-Based
Breakup by Application:
- Cardiology
- Diabetes
- Neurology
- Sleep Apnea
- Oncology
- Others
Breakup by End User:
- Healthcare Providers
- Healthcare Payers
- Pharmaceutical Companies
Breakup by Region:
- Western Australia
- New South Wales
- Queensland
- Victoria
- Rest of Australia
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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