Australia represents a highly competitive IVD market with established international players, a highly developed export-intensive domestic industry, and highly consolidated clinical lab and testing industry. While other developed IVD markets in North America, Europe and Japan are not estimated to be achieving above 3% annual growth, the Australian IVD market has grown at an average of roughly 5% through the past five years. This rate of growth is projected to more or less continue with a stable funding environment through Medicare and a performing economy.
IVD in Australia is Kalorama Information’s analysis of the market for testing in this nation. This report provides an interview of the healthcare system in Australia, major disease incidence and the payment system for healthcare.
This foundation provides the basis for detailed charts on the IVD market in several segments, including Clinical Chemistry, molecular medicine and other areas. Segments included are:
- Clinical Chemistry
- Microbiology, ID/AST and Molecular
- Point of Care Testing
- Molecular Testing
- Blood Testing and Typing
- Flow Cytometry
With univerisal healthcare and a high level of doctor visits providing access to medical technology and labs using competitively priced complex testing, Australia represents a premier in vitro diagnostics (IVD) market in the Asia-Pacific with excellent per capita IVD spending on par with Japan. Approximately half of every dollar spent on clinical testing or pathology services in Australia is provided by the universal public health insurance program, Medicare. Between 2012 and 2017, the Australian IVD market is estimated by Kalorama Information to grow a bit faster than the world IVD market.