| REPORT ATTRIBUTE |
DETAILS |
| Historical Period |
2019-2022 |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Australia and New Zealand Radiography Products Market Size 2023 |
USD 78.61 Million |
| Australia and New Zealand Radiography Products Market, CAGR |
5.23% |
| Australia and New Zealand Radiography Products Market Size 2032 |
USD 124.38 Million |
Market Overview
The Australia and New Zealand radiography products market is projected to grow from USD 78.61 million in 2023 to USD 124.38 million by 2032, at a compound annual growth rate (CAGR) of 5.23%.
The Australia and New Zealand radiography products market is driven by technological advancements in imaging systems, increasing prevalence of chronic diseases, and rising demand for early diagnostic tools. Government initiatives to improve healthcare infrastructure and a growing aging population further fuel market growth. Trends include the adoption of digital radiography over traditional methods, integration of artificial intelligence for enhanced imaging accuracy, and increased investment in research and development. Additionally, the shift towards minimally invasive procedures and the expansion of telemedicine services are notable trends influencing the market dynamics.
In the Australia and New Zealand radiography products market, geographical analysis reveals Australia as the dominant player, owing to its advanced healthcare infrastructure and higher healthcare expenditure. New Zealand also shows significant growth potential due to increasing healthcare investments and adoption of new technologies. Key players in this market include Koninklijke Philips NV, Siemens Healthineers, GE Healthcare, and Canon Medical Systems. These companies are focusing on innovation, strategic partnerships, and expansion to strengthen their market presence. Local players and emerging startups are also contributing to the market by introducing cost-effective and advanced radiography solutions.
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Market Drivers
Increasing Aging Population
Australia and New Zealand, like many other developed countries, have aging populations. For instance, in Australia, the proportion of the population aged 65 years and over has been increasing steadily, reaching 15.9% in 2021. This trend is expected to continue, with projections indicating that by 2057, this age group will constitute 22% of the population. Similarly, in New Zealand, the number of people aged 65 and over is projected to double to more than 1.2 million by 2038. As a result of this aging demographic, the prevalence of chronic conditions has risen. For example, the incidence of osteoporosis in Australia is estimated to affect 4.74% of the population, with higher rates among those aged 65 and over. Arthritis is another common condition, affecting around 3.6 million Australians, which is projected to increase to 5.4 million by 2030. Cardiovascular diseases remain a leading cause of death, with 1 in 6 Australians or approximately 4.2 million living with one or more heart or vascular conditions. Consequently, healthcare providers in these regions are increasingly investing in advanced radiography equipment to cater to the needs of their aging patients.
Rising Burden of Chronic Diseases
The rising prevalence of chronic diseases such as cancer, heart disease, and arthritis is another major driver of the radiography products market in Australia and New Zealand. For instance, in Australia, nearly half of the population (49.9%) had at least one chronic condition in 2022. Mental and behavioural conditions (26.1%), back problems (15.7%), and arthritis (14.5%) were the most common chronic conditions reported. The prevalence of chronic diseases such as heart disease, stroke, and vascular disease was 5.2%, while osteoporosis affected 3.4% of the population. These conditions often require radiographic imaging for diagnosis and management. In New Zealand, chronic diseases are also a significant health challenge, with conditions like cancer, heart disease, and arthritis driving the need for advanced radiography. For example, cancer is one of the leading causes of death in New Zealand, and early detection through radiography can significantly improve treatment outcomes. The demand for radiography products is further amplified by the fact that many people with chronic conditions have more than one condition at the same time (multimorbidity). In Australia, for instance, of those who had Chronic Obstructive Pulmonary Disease (COPD) in 2022, almost nine in ten (86.6%) had another condition. This highlights the complexity of managing chronic diseases and the vital role radiography plays in providing comprehensive care. The increasing burden of these diseases necessitates continuous advancements and availability of radiographic technology to ensure timely and accurate diagnosis and treatment.
Technological Advancements
Technological advancements in the field of radiography are constantly evolving, introducing innovative solutions that enhance diagnostic capabilities. For instance, recent advancements in radiography technology have introduced Artificial Intelligence (AI) and Machine Learning (ML) algorithms that can aid radiologists by automating tedious and time-consuming tasks, such as measuring the size of lung cancer nodules during follow-up CT scans. This automation not only improves diagnostic accuracy but also significantly reduces the workload on radiologists, potentially addressing issues like physician burnout and staff shortages. Another example is the shift towards web-based enterprise imaging systems, which are replacing traditional PACS. These systems eliminate silos between modalities and allow clinicians to access images and reports from anywhere, without the need for specific workstations. The integration of AI and advanced imaging tools into these systems, along with seamless interfacing with Electronic Medical Records (EMRs), enables greater access to images and reports across health systems and facilitates patient data sharing. Moreover, the move to off-site cloud storage for archiving images and patient data is becoming increasingly popular. Companies like Google Health and Amazon offer 24/7/365 monitoring by cybersecurity teams and the ability to upscale server storage without the need for additional hardware. This trend is driven by the desire for hospitals to outsource storage more economically and efficiently, allowing them to quickly scale storage to their needs.
Government Funding
The governments of Australia and New Zealand provide substantial funding for healthcare, including radiology services. This government support ensures that hospitals and healthcare providers have access to the latest radiography products, facilitating high-quality patient care. Government funding not only supports the procurement of advanced imaging equipment but also aids in the implementation of training programs for medical professionals. These initiatives help maintain a high standard of radiographic services, which in turn drives the market for radiography products. Enhanced funding and supportive healthcare policies create a conducive environment for market growth, ensuring that the latest technologies are available to meet the growing healthcare demands.
Market Trends
Shift Towards Digital Radiography and Growth of Advanced Imaging Modalities
The radiography products market in Australia and New Zealand is experiencing a significant shift towards digital radiography (DR). Traditional film-based X-rays are rapidly being replaced by DR systems due to their numerous advantages, such as superior image quality, reduced radiation exposure, and quicker turnaround times. The adoption of Picture Archiving and Communication Systems (PACS) is also on the rise, with New Zealand achieving an EHR adoption rate of 97%, which includes PACS integration. This includes growth in demand for CT scanners, MRI, and ultrasound systems. For example, CT and MRI are essential for detecting complex pathologies, with CT scanners expected to register the highest growth due to their effective diagnosis of tumors and respiratory diseases. Ultrasound is also gaining popularity, particularly in obstetrics, cardiology, and emergency medicine, due to its real-time imaging capabilities and non-invasive nature. The rising incidence of chronic diseases such as cancer and cardiovascular diseases is driving the need for precise diagnostic tools. In 2020, there were an estimated 200,021 new cancer cases diagnosed and 48,236 cancer deaths in Australia.
Additionally, an estimated 571,000 Australians aged 18 and over had Coronary heart disease (CHD) in 2020-21. These statistics highlight the critical role of advanced imaging technologies in diagnosing and managing chronic diseases, contributing to the significant market growth in the region.
Focus on Reducing Radiation Dose and Integration of AI and Tele-radiology
There is an increasing focus on reducing radiation doses in radiographic procedures due to growing concerns about the long-term health risks associated with radiation exposure. For instance, recent innovations in radiography have led to the development of dose reduction software that can significantly decrease the radiation dose required for imaging. Techniques such as adjusting the frame rate of fluoroscopy to ≤3/sec can reduce the radiation dose by up to a factor of 8, depending on the dose/pulse compensation algorithms of the imaging system. Advanced image processing algorithms are also being employed to enhance image clarity while using lower radiation dosages, which is particularly important for vulnerable populations such as children and pregnant women. Low-dose imaging protocols are increasingly becoming the norm in clinical practice. For example, reducing mAs by 50% of the standard dose in plain radiography of the full-length lower extremity and full spine does not affect the clinical validity and the image quality. This demonstrates that it is possible to maintain high-quality imaging standards while significantly reducing radiation exposure to patients. Furthermore, the adoption of new technologies like X-ray beam energy optimization, added filtration, and aggressive collimation are contributing to dose reduction. These techniques not only improve patient safety but also ensure compliance with regulatory guidelines that mandate lower radiation doses in medical imaging.
Market Challenges Analysis
Reimbursement Challenges and High Cost of Advanced Imaging Equipment
The Australia and New Zealand radiography products market faces significant challenges related to reimbursement and the high cost of advanced imaging equipment. Medicare, the government health insurance scheme in both countries, has historically lagged in updating reimbursement rates for radiology services. This discrepancy often results in healthcare providers not being fully compensated for the cost of acquiring and maintaining radiography products. Consequently, hospitals and clinics may be discouraged from investing in new, state-of-the-art equipment, which can hinder the adoption of advanced diagnostic technologies. This financial strain is particularly pronounced in rural and regional areas, where healthcare budgets are often more constrained. Additionally, the high cost of advanced imaging modalities, such as CT scanners and MRIs, presents a substantial barrier to entry. These sophisticated machines require significant capital investment, making it difficult for smaller healthcare facilities to afford them. As a result, patients in less urbanized areas may have limited access to cutting-edge diagnostic tools, potentially leading to disparities in healthcare quality and outcomes.
Skilled Workforce Shortage and Stringent Regulatory Environment
Another critical challenge in the radiography market of Australia and New Zealand is the shortage of skilled radiologists and radiographers, compounded by a stringent regulatory environment. The demand for qualified professionals in radiology outstrips supply, particularly in remote regions, leading to delays in diagnosis and treatment. This shortage can cause increased workload for existing staff, potentially impacting the quality of patient care and increasing burnout among healthcare professionals. Furthermore, the regulatory environment for radiography products in these countries is rigorous, with stringent requirements for safety and efficacy. While these regulations are essential for ensuring patient safety and maintaining high standards, they can also slow down the process of bringing new products to market. The lengthy approval process can deter innovation and delay the availability of advanced radiographic technologies to healthcare providers and patients.
Market Segmentation Analysis:
By Type:
The Australia and New Zealand radiography products market is segmented by type into Digital Radiography (DR), Computed Radiography (CR), and Analog Radiography. Digital Radiography (DR) is the leading segment, driven by its superior image quality, lower radiation doses, and faster processing times compared to traditional methods. The increasing adoption of DR systems is also supported by advancements in digital imaging technologies and the integration of AI for enhanced diagnostic accuracy. Computed Radiography (CR) still holds a significant market share, particularly in healthcare facilities transitioning from analog to digital systems, as it offers a cost-effective interim solution. However, Analog Radiography, the oldest technology, is witnessing a steady decline due to its limitations in image quality, higher radiation exposure, and slower processing speeds. The shift towards more efficient and accurate imaging solutions is expected to continue driving the dominance of DR in the market.
By Application:
Based on application, the radiography products market in Australia and New Zealand is categorized into Medical Radiography and Industrial Radiography. Medical Radiography is the predominant segment, fueled by the rising prevalence of chronic diseases, an aging population, and the growing demand for early and accurate diagnostic tools. Hospitals, clinics, and diagnostic centers are increasingly investing in advanced radiography systems to enhance patient care and diagnostic precision. Within this segment, applications range from routine chest X-rays to complex diagnostic imaging procedures like mammography and orthopedic assessments. Industrial Radiography, though smaller in comparison, plays a crucial role in non-destructive testing (NDT) across various industries such as construction, aerospace, and manufacturing. This application involves the use of radiographic techniques to inspect the integrity of materials and components without causing damage. The demand for industrial radiography is driven by stringent safety and quality standards in industrial operations, ensuring the continued relevance of this segment.
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Segments:
Based on Type
- Digital Radiography (DR)
- Computed Radiography (CR)
- Analog Radiography
Based on Application
- Medical Radiography
- Industrial Radiography
Based on End-user
- Hospitals and Clinics
- Diagnostic Centers
- Industrial Manufacturing Units
- Others
Based on Technology
- Direct Radiography
- Indirect Radiography
Based on the Geography:
Regional Analysis
Australia
Australia holds the larger market share in the region, accounting for approximately 70% of the total radiography products market. The country’s well-established healthcare system, coupled with a strong emphasis on adopting advanced medical imaging technologies, has fueled the demand for radiography products. Major cities like Sydney, Melbourne, and Brisbane, with their concentrated healthcare facilities and research institutions, have played a significant role in driving market growth. Furthermore, the Australian government’s initiatives to improve access to quality healthcare services have contributed to the adoption of radiography products across the country.
New Zealand
New Zealand, on the other hand, holds a market share of around 30% in the region. Despite its smaller population and healthcare infrastructure compared to Australia, New Zealand has witnessed a steady growth in the adoption of radiography products. The country’s focus on providing accessible and efficient healthcare services, particularly in rural areas, has driven the need for reliable and advanced radiography equipment. Additionally, the presence of leading healthcare providers and the increasing emphasis on early detection and preventive care have contributed to the market’s growth in New Zealand.
Key Player Analysis
- Siemens Healthineers
- Koninklijke Philips NV
- GE Healthcare
- Carestream Health
- Canon Australia Pty Ltd
- Fujifilm Holdings Corporation
Competitive Analysis
In the Australia and New Zealand radiography products market, Siemens Healthineers, Koninklijke Philips NV, and GE Healthcare are leading players, distinguished by their extensive product portfolios and innovative solutions in digital and computed radiography. Siemens Healthineers leverages advanced imaging technologies and AI integration to offer superior diagnostic accuracy and efficiency. Koninklijke Philips NV is renowned for its cutting-edge digital radiography systems, emphasizing patient safety through reduced radiation doses and enhanced image quality. GE Healthcare stands out with its comprehensive range of radiographic equipment, focusing on improving clinical outcomes through advanced imaging solutions. Carestream Health, Canon Australia Pty Ltd, and Fujifilm Holdings Corporation also hold significant market positions. Carestream Health is noted for its cost-effective and high-performance imaging systems, catering to both medical and industrial applications.
Recent Developments
In May 2023, TRG Imaging , the radiology arm of Canopy Healthcare opened a new Canning Road Clinic in Hawke Bay, New Zealand, which accommodates the Siemens 3T MRI (magnetic resonance imaging) machine.
Market Concentration & Characteristics
The Australia and New Zealand radiography products market is characterized by a moderate to high level of market concentration, with a few key players dominating the landscape. Major companies such as Siemens Healthineers, Koninklijke Philips NV, GE Healthcare, Carestream Health, Canon Australia Pty Ltd, and Fujifilm Holdings Corporation hold substantial market shares due to their extensive product lines, technological innovation, and strong brand recognition. These players continuously invest in research and development to introduce advanced radiography solutions that offer improved diagnostic capabilities, reduced radiation exposure, and enhanced operational efficiency. The market also features a blend of established multinational corporations and emerging local companies, contributing to competitive dynamics. The concentration of market power among leading firms underscores the importance of strategic partnerships, innovation, and customer-centric solutions to maintain competitive advantage and drive market growth. This structure facilitates high standards of quality and innovation while posing challenges for smaller entrants aiming to gain significant market traction.
Report Coverage
The research report offers an in-depth analysis based on Type, Application, End-user, Technology and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.
Future Outlook
- Increased adoption of digital radiography systems due to their superior image quality and efficiency.
- Growing integration of artificial intelligence to enhance diagnostic accuracy and streamline workflows.
- Rising demand for advanced imaging modalities like CT and MRI to cater to complex diagnostic needs.
- Expansion of tele-radiology services to improve access to radiographic interpretation in remote areas.
- Continued government funding to support healthcare infrastructure and procurement of advanced imaging technologies.
- Focus on reducing radiation doses to address safety concerns and comply with regulatory standards.
- Increased investment in research and development to drive innovation in radiography products.
- Growing awareness of the benefits of early diagnosis and preventative healthcare fueling market growth.
- Expansion of radiography applications beyond medical into industrial sectors for non-destructive testing.
- Enhanced data security measures to protect patient information in an increasingly digital radiography environment.
