Overview

Booming: The ageing population will continue to underpin industry revenue growth

IBISWorld’s General Practice Medical Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

REPORT SNAPSHOT

Market Share of Companies
There are no companies with a dominant market share in this industry
Industry Statistics & Market Size
Revenue
$12bn
Annual Growth
2012 - 2017
3.9%
Annual Growth
2017 - 2022
Profit
Employment
67,282
Business
6,338

Industry Threats & Opportunities

  • The Federal Government's freeze on Medicare rebates has constrained revenue growth
  • Medicare funding has increased due to the rising prevalence of bulk-billing
  • General practices will likely increase throughput rates and attain greater economies of scale

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    Industry Analysis & Industry Trends

    The General Practice Medical Services industry has grown solidly over the past five years. General practitioners (GPs) are the first point of contact in the medical system, providing direct treatment to patients, diagnosing health problems and referring patients to specialists or general hospitals. GPs receive Federal Government assistance through Medicare, which covers a schedule fee for each consultation. The proportion of bulk-billed consultations, in which a GP only charges the schedule fee, has climbed from approximately 80% in 2011-12 to an expected 85% in 2016-17. This has been largely due to an increasing number of retirees, as they visit GPs more frequently and are more commonly offered bulk-billing than working-age adults...

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    Industry Report - Industry Analysis Chapter

    Revenue for the General Practice Medical Services industry has expanded consistently over the past five years due to increased demand from Australia’s growing and ageing population. These trends have helped increase patient volumes, particularly as older people tend to use more general practitioner (GP) services. Patients tend to incur minimal out-of-pocket expenses due to the Federal Government’s Medicare assistance. Medicare covers all or part of the cost of a GP consultation depending on a general practice’s price structure. Industry revenue primarily grows in line with demand growth and Medicare schedule fee changes. Strong demand growth is expected to grow industry revenue at an annualised 3.9% over the five years through 2016-17, to $11.8 billion. A f..

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    Additional Insights for the General Practice Medical Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the General Practice Medical Services Industry are

  • Provision of appropriate facilities
  • Having contacts within key markets
  • Ensuring pricing policy is appropriate
  • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Median age of the population in the General Practice Medical Services industry impact industry performance..

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    Industry Products

    What is the General Practice Medical Services Industry?

    The industry is made up of companies and practitioners that primarily provide general practice medical services.

    Industry Products
    General and unspecified treatments
    Respiratory and circulatory treatments
    Musculoskeletal treatments
    Skin treatments
    Psychological treatments
    Endocrine, metabolic and digestive treatments
    Other treatments
    Industry Activities
    General medical practice operation
    Medical service provision
    Flying doctor service provision

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare
  • Median age of the population
  • Total visits to a general practitioner
  • Number of births

  • Current Performance
  • Participation and profit
  • Ageing population
  • Medicare funding
  • Structural changes
  • Chart: Revenue Growth

  • Industry Outlook
  • Ageing population
  • Medicare rebate freeze
  • Participation and profit
  • Government intervention
  • Table: General Practice Medical Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - General Practice Medical Services Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Health Insurance
  • General Insurance
  • Central Government Administration
  • General Hospitals
  • Community Health Centres
  • Aged Care Residential Services

  • Key Selling Industries
  • Medical and Surgical Equipment Manufacturing
  • Pharmaceutical Product Manufacturing
  • Pharmaceuticals Wholesaling

  • Products & Services
  • Respiratory and circulatory treatments
  • Other treatments
  • Endocrine, metabolic and digestive treatments
  • General and unspecified treatments
  • Musculoskeletal treatments
  • Skin treatments
  • Psychological treatments
  • Chart: General Practice Medical Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged 65 and over
  • People aged 45 to 64
  • People aged 25 to 44
  • People aged 24 and under
  • Chart: Major Market Segmentation for the General Practice Medical Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs General Practice Medical Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the General Practice Medical Services Industry

  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the General Practice Medical Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

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

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the General Practice Medical Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Bulk-Billing
  • When a practice does not receive payment from the patient, but is instead reimbursed 85% of the schedule fee from the government via the patient's Medicare account.
  • Out-Of-Pocket Expense
  • The patient's payment to make up the gap between the Medicare schedule fee and the price charged for a GP consultation.
  • Primary Care
  • The medical care received on first contact with the medical system (before being referred elsewhere).
  • Schedule Fee
  • A fee set by Medicare for a particular medical service.
  • Throughput
  • The rate an operation can produce a product or service in a specific time period.
  • Why buy this report?

    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 General Practice Medical 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 General Practice Medical 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 General Practice Medical Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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