Magnetic attraction: Rising demand for MRI scans has driven industry revenue growth

The Diagnostic Imaging Services industry is expected to perform strongly over the five years through 2018-19. Diagnostic imaging provides healthcare practitioners with crucial information about patients’ health. Industry services, such as X-rays, ultrasounds and MRI, are integral to delivering high-quality health care. Demand for these services is stronger among older people, and has surged as Australia’s population has aged over the past five years. Price competition and government policies have increased bulk-billing over the period, making diagnostic imaging more affordable and boosting service volumes. Industry revenue is expected to rise at an annualised 3.9% over the five years through 2018-19, to $3.9 billion. This includes anticipated growth of 2.8% in more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • A rise in Medicare funding for expensive procedures has aided industry revenue growth
  • Industry revenue attributable to Medicare benefits has grown as more providers bulk-bill
  • Australia’s ageing population is projected to support industry employment growth
  • Industry Report - Industry Locations Chapter

    The distribution of expenditure on diagnostic imaging services across Australia generally follows population distribution. New South Wales is highly over-represented compared with its population share, accounting for 35.8% of industry revenue while comprising 32.0% of Australia's overall population. Queensland has gained significant revenue share over the past five years, with the increase largely met by a decrease in revenue share from New South Wales. Queensland's growth can be put down to significant population increases and, more importantly, high growth in the population aged 65 and over. The age distribution of a state's population strongly determines the revenue generated by diagnostic imaging services in that state...purchase to read more.

    Additional Insights for the Diagnostic Imaging Services Industry

    IBISWorld has determined the most important Key Success Factors for the Diagnostic Imaging Services are:

  • Having a good reputation
  • Must comply with government regulations
  • Having a loyal customer base
  • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Total visits to a general practitioner in the Diagnostic Imaging Services industry impact industry performance..

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    What's in this report

    What is the Diagnostic Imaging Services Industry?

    Industry companies provide diagnostic imaging services such as ultrasound, MRI and X-ray services. The industry excludes diagnostic imaging services conducted by hospitals.

    Industry Products
  • Ultrasounds
  • Computerised tomography
  • Diagnostic radiology
  • Nuclear medicine
  • Magnetic resonance imaging
  • Industry Activities
  • Diagnostic imaging
  • Radiology service
  • X-ray clinic operation
  • Magnetic resonance imaging
  • Nuclear medicine
  • Ultrasound
  • Positron emission tomography
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare
  • Total visits to a general practitioner
  • Median age of the population
  • Population
  • Real household disposable income

  • Current Performance
  • Industry participation
  • Ageing population
  • Medicare involvement
  • Technology changes
  • Chart: Revenue Growth

  • Industry Outlook
  • Industry participation
  • Ageing population
  • Medicare involvement
  • Technology changes
  • Table: Diagnostic Imaging Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Diagnostic Imaging Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • General Insurance
  • General Hospitals
  • Consumers

  • Key Selling Industries
  • Medical and Surgical Equipment Manufacturing
  • Telecommunications Services

  • Products & Services
  • Ultrasounds
  • Computerised tomography
  • Diagnostic radiology
  • Magnetic resonance imaging
  • Nuclear medicine
  • Chart: Diagnostic Imaging Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Patients aged 65 and over
  • Patients aged 45 to 64
  • Patients aged 25 to 44
  • Patients aged 24 and under
  • Chart: Major Market Segmentation for the Diagnostic Imaging Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Diagnostic Imaging Services

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Diagnostic Imaging Services Industry

  • Industry Globalization
    I-MED Network Pty Limited, Sonic Healthcare Limited, Healius Limited, Integral Diagnostics Limited,
  • Table: I-MED Network Pty Limited - financial performance
  • Table: Sonic Healthcare Limited - financial performance
  • Table: Healius Limited - financial performance
  • Table: Integral Diagnostics Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Diagnostic Imaging Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Diagnostic Imaging Services Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Computerised Tomography (Ct)
  • A medical imaging method employing tomography created by computer processing.
  • Dual-Energy X-Ray Absorptiometry
  • A bone scan test to measure bone density.
  • Fluoroscopy
  • Imaging technique that displays real-time moving X-ray images.
  • Magnetic Resonance Imaging (Mri)
  • Involves the use of high-strength magnetic fields to produce computer-processed cross-sectional images of the body.
  • Positron Emission Tomography (Pet)
  • A highly specialised imaging technique that uses short-lived radioactive substances and produces three-dimensional coloured images.
  • Teleradiology
  • Provides the ability to move digital diagnostic images via electronic communications.
  • X-Ray
  • A diagnostic test that uses invisible electromagnetic energy beams to produce images of bones or joints into films.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Diagnostic Imaging Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Diagnostic Imaging Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Diagnostic Imaging Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Diagnostic Imaging Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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