Outpatient Care - Australia

Australia

The Outpatient Care market in Australia is expected to witness a significant growth in revenue, reaching AU US$15.32bn by 2024.
This projection indicates a promising future for the market segment.
Furthermore, it is estimated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 6.58%, resulting in a market volume of AU US$21.07bn by 2029.
Australia's Outpatient Care market is poised for continuous expansion and development.
In a global context, in the United States is expected to generate the highest revenue in the Outpatient Care market, with an impressive figure of US$744.80bn projected for 2024.
This highlights the dominant position of the United States in the global Outpatient Care market sector.
Australia's outpatient care market is experiencing a surge in telemedicine services, enhancing accessibility and convenience for patients across the country.

Key regions: France, Germany, United Kingdom, Canada, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The Outpatient Care market in Australia has been experiencing a steady growth over the past few years.

Customer preferences: Customers in Australia prefer outpatient care compared to inpatient care due to its convenience and cost-effectiveness. Outpatient care provides patients with the flexibility to receive medical treatment without having to stay in a hospital, allowing them to continue with their daily activities. Additionally, outpatient care is generally less expensive than inpatient care, making it a more attractive option for those with limited financial resources.

Trends in the market: The Outpatient Care market in Australia has been experiencing a shift towards more specialized services. This is due to an increase in demand for specialized care from patients, as well as advancements in technology and medical research that have made it possible to provide specialized care in an outpatient setting. As a result, outpatient clinics that specialize in areas such as oncology, cardiology, and orthopedics are becoming more prevalent in Australia.Another trend in the Outpatient Care market in Australia is the increasing use of telemedicine. Telemedicine allows patients to receive medical care remotely, without having to physically visit a clinic or hospital. This is particularly useful for those living in remote areas or for patients who are unable to leave their homes due to illness or disability.

Local special circumstances: One of the unique aspects of the Outpatient Care market in Australia is the country's aging population. As the population ages, there is an increasing demand for medical services, particularly in the area of chronic disease management. This has led to the development of specialized outpatient clinics that focus on providing care for chronic conditions such as diabetes, arthritis, and heart disease.Another special circumstance in Australia is the country's geography. Australia is a large country with a relatively small population, which means that many people live in remote areas. This has led to the development of specialized outpatient clinics that cater to the needs of those living in remote areas, such as mobile clinics and telemedicine services.

Underlying macroeconomic factors: One of the underlying macroeconomic factors driving the growth of the Outpatient Care market in Australia is the country's universal healthcare system. The Australian government provides funding for medical services through the Medicare system, which covers a wide range of outpatient services. This has made it easier for patients to access medical care, which has contributed to the growth of the outpatient care market.Another macroeconomic factor is the increasing prevalence of chronic diseases in Australia. As the population ages, there is a growing need for medical services that focus on chronic disease management. This has led to an increase in demand for specialized outpatient clinics that focus on providing care for chronic conditions.In conclusion, the Outpatient Care market in Australia is experiencing a shift towards more specialized services, an increasing use of telemedicine, and a focus on chronic disease management. These trends are driven by customer preferences for convenience and cost-effectiveness, as well as underlying macroeconomic factors such as the country's universal healthcare system and the increasing prevalence of chronic diseases.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.