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The Australia In-vitro Diagnostics market is segmented by Test Type, Product (Instruments, Reagents, Other Products) Applications, and End User.
The Australian in-vitro diagnostics market is believed to witness a CAGR of around 5.36% over the forecast period. Certain factors driving the market are an increase in the incidences of chronic and infectious diseases, a growing geriatric population, technological advances that are taking place in the diagnostic sector, and the advent of point of care diagnostics.
According to the Australian Institute of Health & Welfare (AIHW), around 3.7 million Australians (15% of the population) were aged 65 years and above in 2016. With an increasing geriatric population, there will be a growth of the typical age-related health problems (for example, arthritis, dementia, and cancer). As per the Australian Health Survey (AHS) 2015, 1 in 5 of the elderly population people (22%) reported being affected by cardiovascular diseases, while 15% had diabetes, and 7% had cancer. The trend of rising chronic diseases is increasing in the country; with such increase in incidences of chronic diseases, there is a need for diagnostic tests that provide critical insights at every stage of medical care, including prevention, detection, diagnosis, treatment, and successful management of health conditions. Therefore, it is believed that rising chronic incidences of diseases are driving the market of in-vitro diagnostics in Australia.
As per the scope of this report, in-vitro diagnostics involves medical devices and consumables that are utilized to perform in-vitro tests on various biological samples. They are used for the diagnosis of various medical conditions and chronic diseases.
|By Test Type|
|By Type of product|
|By End User|
|Hospitals & Clinics|
|Other End Users|
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The reagent segment of the market studied includes chemical, biological, or immunological components, solutions, or preparations intended by the manufacturer to be used during the in-vitro diagnosis process.
Reagent usage for IVD kits often carries high costs. Nevertheless, a variety of new measures to counter this problem have emerged, which include, bulk purchase of reagents and local development and production of assay systems. Being a developed economy, Australia has established local immunoassay reagent programs to manufacture low-cost, high-quality immunoassay reagents. Kits from these projects are now gradually becoming available and are likely to fuel the market expansion.
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The Australian in-vitro diagnostics market is moderately competitive. Some of the major players of this market are BioMerieux, F. Hoffmann-La Roche Ltd, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., and Abbott. The major players hold most of the market share. With technological advances and product innovations, some small companies are also entering the market, currently holding a substantial market share.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High Prevalence of Chronic Diseases
4.2.2 Increasing Use of Point-of-care (POC) Diagnostics
4.2.3 Advanced Technologies
4.3 Market Restraints
4.3.1 Stringent Regulations
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Test Type
5.1.1 Clinical Chemistry
5.1.2 Molecular Diagnostics
5.1.3 Immuno Diagnostics
5.1.5 Other Types
5.2 By Type of product
5.2.3 Other Products
5.3 By Applications
5.3.1 Infectious Disease
5.3.5 Autoimmune Disease
5.3.7 Other Applications
5.4 By End User
5.4.1 Diagnostic Laboratories
5.4.2 Hospitals & Clinics
5.4.3 Other End Users
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 F. Hoffmann-La Roche Ltd
6.1.3 Becton, Dickinson and Company
6.1.4 Bio-Rad Laboratories Inc.
6.1.6 Siemens AG
6.1.7 Thermo Fisher Scientific
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
* List Not Exhaustive
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments