Australia: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in Australia

The Australian diagnostic equipment market rose sharply to $X in 2023, with an increase of X% against the previous year. In general, consumption continues to indicate strong growth. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Diagnostic Equipment Production in Australia

In value terms, diagnostic equipment production totaled $X in 2023 estimated in export price. In general, production continues to indicate a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Diagnostic Equipment Exports

Exports from Australia

In 2023, overseas shipments of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. Overall, exports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, diagnostic equipment exports contracted notably to $X in 2023. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2022, and then contracted markedly in the following year.

Exports by Country

New Zealand (X units), the United States (X units) and Singapore (X units) were the main destinations of diagnostic equipment exports from Australia, with a combined X% share of total exports. China, Germany, India, Japan, Thailand, Hong Kong SAR, the Netherlands and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for diagnostic equipment exported from Australia were New Zealand ($X), the United States ($X) and Singapore ($X), with a combined X% share of total exports. China, Germany, India, Japan, Thailand, Hong Kong SAR, the Netherlands and Malaysia lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, China, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average diagnostic equipment export price amounted to $X per unit, growing by X% against the previous year. In general, the export price continues to indicate a buoyant increase. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports into Australia

In 2023, approx. X units of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus were imported into Australia; falling by X% against 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2023, the growth of imports failed to regain momentum.

In value terms, diagnostic equipment imports declined slightly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then shrank slightly in the following year.

Imports by Country

In 2023, the United States (X units) constituted the largest supplier of diagnostic equipment to Australia, with a X% share of total imports. Moreover, diagnostic equipment imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Japan (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) constituted the largest diagnostic equipment suppliers to Australia, together comprising X% of total imports. Japan, Mexico, Singapore, Canada, Vietnam, Finland, Ireland, the UK, Israel and the Dominican Republic lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average diagnostic equipment import price stood at $X per unit in 2023, leveling off at the previous year. In general, import price indicated a moderate expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, diagnostic equipment import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for the Dominican Republic ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform