Industry growth is mainly due to increases in precautionary tests and in the types of tests available
Melbourne, Australia (PRWEB) July 30, 2012
The Pathology Services industry provides vital information for doctors, thus helping doctors to diagnose and manage a number of diseases. IBISWorld expects industry players to generate revenue from providing pathology services under Medicare amounting to $2.49 billion in 2012-13, up 2.5% on 2011-12. Pathology Services industry revenue is forecast to increase an annualised 0.7% in the five years through 2012-13. According to IBISWorld industry analyst Nigel Fitzpatrick, “growth in industry revenue will likely come from an increase in the number of pathology services, partly offset by a decline in average revenue per service”. Strong growth in the number of services is mainly due to an increase in the use of medical services and an increase in the average number of pathology tests per medical service. This increase is mainly due to increases in precautionary tests and in the types of tests available.
In the next five years, Pathology Services industry revenue is forecast to increase. In May 2011, the Commonwealth Government announced a new five-year Pathology Funding Agreement with the key stakeholders of the Pathology Services industry. “The agreement, which commenced in 2011-12, will provide growth in industry-wide pathology funding outlays over a five-year term”, says Fitzpatrick.
The top four players in the Pathology Services industry are Sonic Healthcare Limited, Primary Health Care Limited, Healthscope Limited and St John of God Health Care Inc. The industry is estimated to have a high level of market share concentration, although the level of concentration varies by geographic region. The industry is expected to become more concentrated until the Australian Consumer and Competition Commission prevents major incumbents from any further acquisitions.
For more information, visit IBISWorld’s Pathology Services report in Australia industry page.
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IBISWorld industry Report Key Topics
Companies in this industry operate pathology laboratories and collection centres.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.