Australia Ultrasound Devices Market Size (2024 - 2029)

The Australia Ultrasound Devices Market is projected to experience growth driven by several key factors. The increasing prevalence of chronic diseases, such as cardiovascular conditions and cancer, is a significant contributor to the market's expansion. Additionally, government initiatives aimed at enhancing imaging services are expected to further boost the market. Technological advancements in ultrasound devices also play a crucial role in market growth, with new products and platforms improving accessibility and usability for healthcare professionals. Despite these positive trends, stringent regulations concerning ultrasound devices in Australia may pose challenges to the market's growth trajectory.

Market Size of Australia Ultrasound Devices Industry

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Australia Ultrasound Devices Market Summary
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

Australia Ultrasound Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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’s growth during the forecast period.

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
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Australia Ultrasound Devices Market Size Summary

The Australian ultrasound devices market is poised for significant growth, driven by the increasing prevalence of chronic diseases and advancements in technology. The rising incidence of conditions such as cardiovascular diseases and cancer, particularly thyroid cancer, is fueling the demand for ultrasound devices, which are essential for non-invasive imaging and diagnosis. Government initiatives to enhance healthcare infrastructure and imaging services further bolster market expansion. Technological innovations, such as AI-driven platforms and specialized ultrasound systems, are also contributing to the market's growth trajectory. These developments are expected to enhance the capabilities of healthcare professionals and improve patient outcomes, thereby increasing the adoption of ultrasound devices across the country.

In addition to chronic disease management, the market is experiencing growth due to the application of ultrasound technology in cancer treatment and gynecological health. High-intensity focused ultrasound (HIFU) is gaining traction as a minimally invasive treatment option for various cancers, including prostate cancer, supported by government investments in advanced healthcare technologies. The increasing incidence of gynecological diseases, such as ovarian cancer, is also driving demand for ultrasound devices used in diagnostic procedures. The market is moderately competitive, with key players like Mindray Medical International Limited, Siemens Healthineers AG, and GE Healthcare leading the charge. These companies are expanding their product offerings and improving accessibility to enhance healthcare delivery in Australia.

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Australia Ultrasound Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Burden of Chronic Diseases

      2. 1.2.2 Technological Advancements

    3. 1.3 Market Restraints

      1. 1.3.1 Stringent Regulations

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD)

    1. 2.1 By Application

      1. 2.1.1 Anesthesiology

      2. 2.1.2 Cardiology

      3. 2.1.3 Gynecology/Obstetrics

      4. 2.1.4 Musculoskeletal

      5. 2.1.5 Radiology

      6. 2.1.6 Critical Care

      7. 2.1.7 Other Applications

    2. 2.2 By Technology

      1. 2.2.1 2D Ultrasound Imaging

      2. 2.2.2 3D and 4D Ultrasound Imaging

      3. 2.2.3 Doppler Imaging

      4. 2.2.4 High-intensity Focused Ultrasound

    3. 2.3 By Type

      1. 2.3.1 Stationary Ultrasound

      2. 2.3.2 Portable Ultrasound

Australia Ultrasound Devices Market Size FAQs

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.

In 2024, the Australia Ultrasound Devices Market size is expected to reach USD 195.13 million.

Australia Ultrasound Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)