Australia hospital market is expected to
grow at a significant rate during the forecast period, 2024-2028. The
increasing prevalence of chronic diseases is the major factor driving the
growth of market. In Australia, 10 common chronic conditions contribute to
37% of hospitalization. These common chronic conditions are arthritis,
asthma, back pain, cancer, osteoporosis, chronic kidney disease, cardiovascular
disease, chronic obstructive pulmonary disease, diabetes, and mental health
conditions. Australia faces diverse health problems comprising of sexually
transmitted diseases, vaccine-preventable diseases, vector-borne diseases,
foodborne diseases, among other diseases which are expected to foster the
hospital market growth. Increasing geriatric population is also surging the
demand for hospitals. As with growing age, immunity level starts declining, and
the human body is more vulnerable to getting affected with several chronic diseases.
Older people suffer from chronic ailments and degenerative diseases and
generally require longer hospital stays along with frequent follow-ups to
ensure effective treatment.
Approximately half of Australians
(46.6%), regardless of age, had at least one chronic disease, and nearly one in
five (18.6%) had two or more chronic disease. Nearly half (49.0%) of all
females had one or more chronic diseases, and one in five (20.7%) had two or
more. Likewise, 16.4% of males had two or more chronic diseases, and 43.9% had
one or more. In Australia, mental and behavioral problems (20.1% or 5.0 million)
are the most common chronic condition.
Furthermore, the increasing number of
road accidents is also accelerating the Australia Hospital market. Speeding,
distracted driving, fatigued driving, and drunk driving are the main causes of
road accidents in Australia. According to Department of Infrastructure,
Transport, Regional Development, Communication, and the Arts, 1,123 people died
in traffic accidents in 2021. This is an increase of 2.6% from 2020.
Increase in Healthcare Expenditure
After the COVID-19 pandemic, government
of Australia is spending more money on different healthcare services. Australia
spent around USD 202.5 billion on health goods and services in 2019-2020. In
2019-2020, healthcare expenditure accounted for 10.2% of the total Gross
Domestic Product (GDP) in Australia which is almost 0.2% higher than in
2018-2019. 41.2% of expenditure was spent on hospitals i.e., USD 83.5 billion
in 2019-2020. Expenditure on hospitals is 2.9% higher than the 2018-2019. The
Government of Queensland provides a budget of USD 20.885 billion in operating
funding and USD 1.35 billion capital program to deliver fine quality health
services to Queenslanders. The growing investments in hospital sector
and overall health sector improvement is expected to create lucrative
opportunities for the market growth in the coming years.
Improving Healthcare Infrastructure
The health care system provided by Australia's government is
among the safest and most economical in the world. Federal, state, territorial,
and local governments in Australia all work together to collectively manage it.
There are numerous healthcare providers, including general practitioners (GPs),
medical specialists, allied health professionals, and nurses who provide
primary care services. All Australians have free or affordable access to the
majority of healthcare services provided by Medicare and the public hospital
system. The number of hospitalizations is increased by 6.3% in 2020-2021 comparative
to 2.8% in 2019-2020. The increase in hospitalization was highest for private
hospitals i.e., 10.5% comparative to public hospitals i.e., 3.6%.
Recent
Developments
Queen Elizabeth Hospital Redevelopment: Stage III A- The project is a component of a significant rehabilitation of a 327-bed acute-care teaching hospital that offers inpatient, outpatient, emergency, and mental health services to more than 250,000 people.
Pinkenba Quarantine Facility- In Pinkenba, Queensland, a 1,000-bed COVID-19 quarantine hub will be built on a 30-hectare of land. In Queensland, the initiative intends to provide quarantine facilities and serve as a replacement for hotel quarantine. When finished, the facilities will provide accommodation for about 1,450 people.
Weststate Private Hospital- On 0.16 acres of land in Brisbane, Queensland, a five-storey private hospital with 22 beds is being built as part of the project. The project seeks to renovate the former Townsville West State School at West End to offer improved healthcare services, including orthopedics, cardiology, urology, and maxillofacial surgery.
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Market Segmentation
Australia hospital market is segmented
into ownership, type, type of services, bed capacity, and region. Based on
ownership, the market is bifurcated into Public and Private. Based on type, the
market is further divided into General, Specialty and Multi-Specialty. Based on
the type of services, the market can be further bifurcated into in-patient
services and outpatient services. Based on bed capacity, the market is divided
into Up to 100 beds, 100-500 beds and Above 500 beds.
Market Players
The major players operating in the
Australia hospital market are Ramsay Health Care Limited, Healthscope Pty Ltd,
St John of God Health Care Inc, Nexus Day Hospitals Pty Ltd, Healthe Care
Australia Pty Ltd, Cura Day Hospitals Group Pty Ltd, Western Private Hospital,
SA Health, Alfred Health, St Vincent's Health Australia, among others. Major
companies are adopting advanced technologies for treatment and launching new
services to stay competitive in the market. Other competitive strategies
include mergers & acquisitions and new service developments.
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Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic
Data
|
2018 – 2021
|
|
Estimated
Year
|
2023
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Forecast
Period
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2024 – 2028
|
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Quantitative
Units
|
Revenue in USD
Million and CAGR for 2018-2022 and 2023-2028
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|
Report
Coverage
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Revenue forecast,
company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
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·
Ownership
·
Type
·
Type of Service
·
Bed Capacity
|
|
Regional
Scope
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Capital Territory &
New South Wales; Victoria & Tasmania; Western Australia; Queensland;
Northern Territory & Southern
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|
Key
Companies Profiled
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Ramsay Health Care Limited, Healthscope Pty Ltd, St John of
God Health Care Inc, Nexus Day Hospitals Pty Ltd, Healthe Care Australia Pty
Ltd, Cura Day Hospitals Group Pty Ltd, Western Private Hospital, SA Health,
Alfred Health, St Vincent's Health Australia.
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|
Customization
Scope
|
10% free report
customization with purchase. Addition or alteration to regional & segment
scope.
|
|
Pricing And
Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and
Excel through Email (We can also provide the editable version of the report
in PPT/Word format on special request)
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Report Scope:
In this report, Australia hospital market
has been segmented into following categories, in addition to the industry
trends which have also been detailed below:
·
Australia Hospital Market, By Ownership:
- Australia Hospital Market, By Type:
- General
- Specialty
- Multi-Specialty
- Australia Hospital Market, By Type of Services:
- In-Patient
Services
- Out-Patient
Services
- Australia Hospital Market, By Bed Capacity:
- Up to
100 beds
- 100-500
beds
- Above
500 beds
- Australia Hospital Market, By
Region:
o Australia Capital Territory & New South
Wales
o Northern Territory & Southern
Australia
o Western Australia
o Queensland
o Victoria & Tasmania
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in Australia hospital market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
Detailed analysis and
profiling of additional market players (up to five).
Australia hospital market is an upcoming report to be released soon. If
you wish an early delivery of this report or want to confirm the date of
release, please contact us at [email protected]