What the doctor ordered: Rising public health expenditure is boosting industry revenue

The Specialist Medical Services industry has performed well over the past five years. Industry revenue growth has been supported by an increase in New Zealand's population aged 50 years and over. Older people are typically more susceptible to chronic diseases and disorders, such as heart disease, hypertension, diabetes and arthritis, that require treatment by specialist medical practitioners. Thus, as the population aged 50 and over rises, demand for specialist medical services tends to increase as well. Furthermore, general population growth over the past five years has also boosted industry demand, as greater numbers of people have required specialist medical treatments. Industry revenue is expected to rise at an annualised 1.3% over the five years through 2017-18, to $1.4 billion...read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 13-18
1.3%
Forecast Growth 18-23
Profit
Employment
3,843
Businesses
2,652
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Report - Industry Locations Chapter

Specialist medical practices are distributed largely in line with population. Populated areas generally attract more private practices as they are accessible to more patients, which increases the client base. Most regions are underrepresented in establishment numbers compared with their population share. However, the three main metropolitan hubs (Auckland, Christchurch and Wellington) are overrepresented. The compact geographical size of New Zealand allows most patients to easily travel between regions for specialist services, which often makes it uneconomical for specialists to establish themselves in rural towns...purchase to read more.

Additional Insights for the Specialist Medical Services Industry

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

  • Having contacts within key markets
  • Having a good technical knowledge of the product
  • Ensuring pricing policy is appropriate
  • IBISWorld analysts also discuss how external factors such as Median age of the population and Public health expenditure in the Specialist Medical Services industry impact industry performance..

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    What's in this report

    What is the Specialist Medical Services in New Zealand Industry?

    Industry firms are primarily engaged in in the independent practice of specialised medicine. Specialist medical practitioners often operate private or group practices in medical clinics or centres. The industry excludes pathology and diagnostic imaging services.

    Industry Products
  • Internal medicine services
  • Orthopaedic and general surgery
  • Psychiatric services
  • Anaesthetic services
  • Obstetrics and gynaecology services
  • Paediatric services
  • Other medical services
  • Industry Activities
  • Allergy specialist services
  • Anaesthetist services
  • Dermatology services
  • Ear, nose and throat specialist services
  • Gynaecology services
  • Hair transplant services (by registered medical practitioner)
  • Neurology services
  • Ophthalmology services
  • Orthopaedic specialist services
  • Psychiatry services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Median age of the population
  • Public health expenditure
  • Female population aged between 15 and 45
  • Total visits to a general practitioner
  • Private health insurance membership

  • Current Performance
  • Industry demand
  • Profit
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Industry participation
  • Profit
  • Demand growth
  • Technology changes
  • Table: Specialist Medical Services Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Health Insurance in New Zealand
  • Hospitals in New Zealand
  • Consumers in New Zealand

  • Key Selling Industries
  • General Practice Medical Services in New Zealand
  • Hospitals in New Zealand
  • Medical, Surgical and Scientific Equipment Manufacturing in New Zealand

  • Products & Services
  • Internal medicine services
  • Anaesthetic services
  • Psychiatric services
  • Orthopaedic and general surgery
  • Other medical services
  • Paediatric services
  • Obstetrics and gynaecology services
  • Chart: Specialist Medical Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Individuals aged 45 to 64
  • Individuals aged 65 and over
  • Individuals aged 25 to 44
  • Individuals aged 14 and under
  • Individuals aged 15 to 24
  • Chart: Major Market Segmentation for the Specialist Medical 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 Specialist Medical Services

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Specialist Medical Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Specialist 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
    Table: Industry Data for the Specialist Medical Services Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Cardiologist
  • Specialist medical physicians who specialise in the diagnosis and treatment of heart disorders.
  • Ophthalmology
  • The branch of specialist medicine that studies and treats disorders and diseases of the eye.
  • Telehealth
  • The use of telecommunications technology to provide healthcare to patients living in remote and rural areas.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Specialist Medical Services in New Zealand 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.

    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 Specialist Medical Services in New Zealand:
    • 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 Specialist Medical Services in New Zealand 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 Specialist Medical Services in New Zealand, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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