Australia & New Zealand Diagnostic Imaging Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Australia & New Zealand diagnostic imaging equipment market is expected to register a CAGR of nearly 6.11% during the forecast period. 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. Additionally, an increase in chronic diseases and increasing government funding pertaining to diagnostic imaging studies are also responsible for driving the growth of the market studied.

According to the Australian Government Department of Health, in 2017-18, around 27 million diagnostic images were performed by healthcare professionals on the equipment that was covered under Medicare. Hence, it is expected to boost the diagnostic imaging equipment market in Australia & New Zealand.

Scope of the Report

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 accurate diagnosis of the patient. There are various modalities in medical imaging, the most common ones being CT scan and MRI systems. The Australia & New Zealand diagnostic imaging equipment market is segmented by product type, application, end user, and geography.

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Key Market Trends

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 in the market. For instance, in 2016-17, around 85,509 people aged 50 and above were admitted to hospitals for minimal trauma fractures. In addition, there is also a rising need for radiographers in Australia that is expected to boost the Australian market. In 2018, the New Zealand scientists were found performing the first 3-D, color X-ray on a human, using a technique that promises to improve the field of medical diagnostics. Hence, these technologies are also being commercialized by the New Zealand company, MARS Bioimaging, and may increase the overall market.

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