Industry Analysis & Industry Trends
The Pathology Services industry provides vital information that helps doctors to diagnose and manage a number of diseases. The ageing population and an increase in the prevalence of chronic illness are factors promoting demand for health services and referrals for pathology services. The industry derives the vast majority of its revenue from providing pathology services under Medicare.
The industry is expected to generate revenue of $2.8 billion in 2014-15, representing growth of 2.9% on the previous year. Medicare is expected to record more than 115 million pathology services in 2014-15, up from 93 million services in 2009-10, suggesting strong volume growth over the past five years. The average Medicare rebate is forecast to equal just $20 per service... purchase to read more
Industry Report - Industry Key Buyers Chapter
The top four players currently account for just over 85.0% of industry revenue, indicating a particularly high concentration of ownership, although the degree of concentration varies by geographic region. The industry is expected to become more concentrated until the Australian Consumer and Competition Commission (ACCC) prevents major incumbents from any further acquisitions. Both of the two largest players have undertaken a number of acquisitions over the past five years including Sonic's 2012 purchase of Healthscope's Western Australian pathology business.
Australia's largest publicly listed pathology businesses: Sonic Healthcare Ltd and Primary Health Care Ltd, together account for just under three quarters of annual industry revenue... purchase to read more