Australia Ultrasound Devices Market Size

Statistics for the 2023 & 2024 Australia Ultrasound Devices market size, created by Mordor Intelligence™ Industry Reports. Australia Ultrasound Devices size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

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