Australia MedTech Market Overview 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Australia MedTech market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the Australia MedTech market report, size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

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.

MedTech, short for medical technology, encompasses a wide array of cutting-edge tools and solutions aimed at enhancing the delivery of healthcare and enhancing patient well-being. Its primary goal is to boost the precision of diagnoses, the effectiveness of treatments, and the quality of patient care, while also helping to tackle a range of medical challenges and streamline healthcare procedures. As it contributes to an improved experience for both patients and healthcare professionals, there is a growing demand for MedTech in Australia.

Australia MedTech Market Trends and Drivers:

Currently, several key factors are driving the growth of the healthcare market in Australia. Firstly, there is a rising demand among individuals for non-invasive and personalized healthcare solutions, which is a significant driver. Additionally, the increasing prevalence of chronic diseases in the population is contributing to market expansion. Moreover, the market is benefiting from the growing need for medical technologies that facilitate early diagnosis, continuous monitoring, and targeted treatments. The increasing emphasis on proactive and individualized healthcare approaches is also fueling market growth. Furthermore, the introduction of innovative medical devices and digital health platforms tailored to specific medical conditions is pushing the market forward. Lastly, a growing focus on patient-centric approaches is further propelling market expansion.

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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