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The Rising Emphasis on Cost Reduction and Improved Patient Outcomes will Drive Market Growth
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Australia's population has been increasing, with a significant proportion aged 65 and above. Disease profiles have been changing toward more lifestyle-related diseases, and healthcare facilities must prepare to treat the same. The Australian endoscopy devices market is growing due to the rising demand for minimally invasive procedures, driven by reduced procedure time and increased results efficacy due to better diagnostics equipment. In addition, the aging population and increased consolidation of the fragmented market help to expand the addressable market for endoscopes. Market growth is hindered by factors such as high capital investments, along with poor physician training and expertise. This limits the uptake of minimally invasive procedures in the country. However, the rising trend of day surgeries, coupled with the increased uptake of insurance, will drive scopes usage. Australian healthcare is likely to see continued demand, with the public sector making most of the healthcare spending. The country will face challenges in terms of the rising trend of chronic diseases, along with the expanding aging population, which increases the pressure on the healthcare sector. Private sector spending accounts for approximately 32.2% of the total healthcare spending. Private hospitals and day surgeries account for 66% of the elective surgeries in Australia. Laparoscopic/endoscopic procedures will gradually replace open procedures due to reduced body invasion, cost-effectiveness, decreased post-operative pain, and shorter recovery time. A significant proportion of common procedures such as appendectomy, cholecystectomy, and hernia repair are already being carried out as laparoscopic/endoscopic procedures.Marginal growth is expected in the number of hospitals and hospital beds in Australia, mainly driven by growth in private facilities as public facilities are focused on improving existing facilities. The emphasis on the reduction of hospital burden is fueled by public facility improvements and a focus on both primary care and disease prevention.Australia is seeing a shift toward specialist roles over general practitioners, with a higher physician-to-population ratio than the OECD country average. Public hospitals account for the highest admission rates, although most of the procedures are conducted in private hospitals. Rising health awareness boosts the need for diagnostics and screening. This insight focuses on the endoscopy devices market in Australia, and it offers in-depth coverage on the urology, general surgery, gynecology, and imaging and energy systems segments. It also supplies a detailed overview of devices and procedures, and it uses data from both secondary and primary interviews with key industry participants. The forecast period runs through to 2019.
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