Radiologists in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: May 2024
ANZSIC OD5709
Spotlight Report Revenue
$1.9bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
2,699
Businesses
1,358
Wages
$XXX.Xm
Radiologists in Australia industry analysis
Radiologists are an increasingly important aspect of Australia's health system, thanks to improvements in diagnostic imaging technology and an ageing population requiring more health care. Demand for diagnostic imaging services is constantly rising, which requires consistent growth in the supply of clinical radiologists to read and report on these images. These larger trends have underpinned growth in this industry over the past two decades. Industry revenue is expected to rise at an annualised 4.7% over the five years through 2023-24 to $1.9 billion. This trend includes heavy growth of 13.2% anticipated in 2023-24, due to improved indexation of Medicare benefit rebates and higher out-of-pocket patient fees for higher end modalities.
Trends and Insights
- Clinical radiologists provide high-value expertise in an area of health that’s constantly growing. A combination of an ageing populace and improved diagnostic imaging technology has driven industrywide revenue growth over the past decade.
- Clinical radiologists mostly provide assistance in diagnosing injury or disease. However, a growing segment of specialist radiologists are also developing the capacity to contribute to treatment as well, which is further boosting the value of clinical radiologists’ expertise.
- Substitutes are few and far between in the field of clinical radiology. Only areas of health with high rates of specialisation, like pregnancy, have an array of viable substitute specialists that can replace radiology expertise.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 4.7 % over the past five years, to reach an estimated $1.9bn in 2024.
Trends and Insights
An ageing population is fuelling demand for clinical radiologists
- Over the past two decades, demand for radiologists has grown considerably, a trend driven by a combination of improving diagnostic imaging technology and an ageing populace’s healthcare needs.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Migration holds the key to solving radiologist shortages
- Radiologists face continued rises in demand for clinical radiology over the next few years, as a growing and ageing population is likely to require more diagnostic imaging services that also need a clinical radiologist for interpretation, diagnosis and treatment.
Biggest companies in the Radiologists in Australia
There are no companies that hold a large enough market share in the Radiologists in Australia industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Diagnosis, Treatment and Other. Diagnosis is the largest segment of the Radiologists in Australia.
Trends and Insights
The majority of clinical radiologists’ time is taken up with diagnosis
- Clinical radiologists are trained to interpret a range of diagnostic images, which makes their input an essential step in the diagnosis process.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Pathology Services in Australia
- Physiotherapy Services in Australia
- Chiropractic and Osteopathic Services in Australia
Complementors
- Public General Hospitals in Australia
- Private General Hospitals in Australia
- General Practice Medical Services in Australia
- Diagnostic Imaging Services in Australia
International industries
- Radiologists in the US
- Pathology and Diagnostic Imaging Services in New Zealand
- Diagnostic Imaging Centres in the UK
- Healthcare Activities in Germany
Table of Contents
About this industry
Industry definition
Radiologists diagnose or treat patients using various forms of diagnostic imaging, including X-ray, computed tomography (CT) scans, magnetic resonance imaging (MRI), ultrasound and nuclear medicine imaging. Clinical radiologists specialise in interpreting and reporting on diagnostic imaging as well as providing some treatment for patients in certain contexts.
What's included in this industry?
DiagnosisTreatmentResearchTeaching/MentorshipCompanies
Purchase this report to view all major companies in this industry.
Related Terms
X-RAYDUAL-ENERGY X-RAY ABSORPTIOMETRYPOSITRON EMISSION TOMOGRAPHY (PET)MAGNETIC RESONANCE IMAGING (MRI)TELERADIOLOGYCOMPUTERISED TOMOGRAPHY (CT)FLUOROSCOPYIndustry Code
ANZSIC 8520 - Radiologists in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Clinical radiologists provide high-value expertise in an area of health that’s constantly growing. A combination of an ageing populace and improved diagnostic imaging technol...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Factors that influence volatility in the industry
- Key success factors for businesses to overcome volatility
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Clinical radiologists mostly provide assistance in diagnosing injury or disease. However, a growing segment of specialist radiologists are also developing the capacity to con...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Purchase this report to unlock analyst insights.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Substitutes are few and far between in the field of clinical radiology. Only areas of health with high rates of specialisation, like pregnancy, have an array of viable substi...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Clinical radiologists need relevant licensing and accreditation to allow access to Medicare funding. The industry also sets its own accreditation programs in the form of the ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Radiologists are highly paid professionals with very specialised skills. This allows them to charge a premium, which boosts profit as a share of revenue.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Radiologists industry in Australia in 2024?
The market size of the Radiologists industry in Australia is $1.9bn in 2024.
How many businesses are there in the Radiologists in Australia industry in 2024?
There are 1,358 businesses in the Radiologists industry in Australia, which has grown at a CAGR of 4.0 % between 2019 and 2024.
Has the Radiologists industry in Australia grown or declined over the past 5 years?
The market size of the Radiologists industry in Australia has been growing at a CAGR of 4.7 % between 2019 and 2024.
What is the forecast growth of the Radiologists industry in Australia over the next 5 years?
Over the next five years, the Radiologists industry in Australia is expected to grow.
What does the Radiologists in Australia include?
Diagnosis and Treatment are part of the Radiologists industry.
How competitive is the Radiologists industry in Australia?
The level of competition is moderate and increasing in the Radiologists industry in Australia.
