Australia Medical Device Market is set to reach USD 4.56 billion by 2025

Australia Medical device industry

New York, USA, 2018-May-17 — /EPR Network/ —According to Goldstein Research, Australia medical device market is expected to reach USD 4.56 billion by the end of 2025, growing at a CAGR of 10% over the forecast period, 2017-2025. The portability of the devices coupled with the technology as the smaller size of the advanced medical devices also brings down costs by eliminating concerns with storage, portability, and weight is propelling the growth of Australia medical device market. Australia medical device market segmentation has been done on the basis of product type, the area of use, and end-user. In-vitro diagnostics (IVD) equipment dominated the Australian medical device market and accounted for the market share of 35% in 2017 owing to a large number of aging residents with multiple chronic health issues.

Australia Medical device market witnessed total healthcare spending in 2016 over USD 137 billion and healthcare expenditures was 9.4% of total GDP which is distributed among government sector (67%) and private sector (33%). Australia’s healthcare industry is sophisticated and receptive to the new product.

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Market Segmentation

On the basis of our in-depth analysis, Australian medical Device Market can be segmented as follows:

By Product Type

o          Dental equipment and supplies

o          Electro-medical equipment

o          In-Vitro Diagnostics

o          Irradiation apparatuses

o          Surgical and medical instruments

o          Surgical appliances and supplies

By Area Of Use

o          Inpatient Care

o          Outpatient Care

o          Special Areas

o          Patient Self-Monitoring

o          Relative Medical Indication

By End User

o          Hospitals

o          Clinics

o          Diagnostic Labs

o          Homecare Settings

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“Australia Medical Device Market Outlook 2024”contains a detailed overview of the Australia Medical device market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, an area of use and end-users.

Further, for the in-depth analysis, Australian medical Device Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Johnston & Johnson, Philips Healthcare, Medtronic Inc., GE Healthcare, Siemens AG, Novartis AG, Stryker Corp., 3M Company, Abbott Laboratories, Toshiba Corp., Becton, Dickinson and Co., Baxter International Inc., Cardinal Health Inc., Boston Scientific Corp., Allergan Inc., Zimmer Biomet, Danaher Corp., DentsplySirona, Essilor International S.A.,Covidien plc., etc.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report represents the Australian medical device market trends along with a market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

About Goldstein Research

Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.

Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear-cut forecasts. Our market research reports provide in-depth analysis of global and regional variations along with competitors’ overview. Our analysts working on healthcare market research reports to help various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in the vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable for our clients’ needs and business agenda.

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