$16.7bn
$XXX.Xm
32,262
2,459
$X.Xbn
Rising demand from the health sector has supported the Medical and Scientific Equipment Wholesaling industry in recent years. An ageing population and the COVID-19 pandemic have led to increased government funding for healthcare. Compounded by growing admission rates in private and public hospitals, demand for various medical and surgical equipment in hospitals and medical centres has risen, boosting wholesale activity.
Despite growing demand, the industry has also dealt with several setbacks. Pandemic-related supply chain interruptions have decreased demand for process control equipment. Even amid fluctuations and a slight appreciation of the Australian dollar, which could lower import prices, overall industry revenue is on a downtrend. While favourable currency exchange rates typically benefit importers, allowing industry expansion, these gains have been offset by wholesale bypass and persistent global supply chain challenges, which have contributed to an anticipated 2.3% revenue fall in 2023-24. Overall, industry revenue is expected to contract at an annualised 0.2% over the five years through 2023-24 to $16.7 billion.
The Australian dollar's appreciation and growing investment in research and development is projected to boost the industry's size, profitability and revenue in the near future. Industry revenue is forecast to grow at an annualised 1.8% over the five years through 2028-29, to $18.3 billion. Demand for medical equipment will remain high as the domestic economy expands and the population's median age rises. The pandemic will inspire increased investment in the medical sector, boosting spending on medical equipment in the coming years. Industry profitability is also bound to prosper from growth in research and development. As establishment numbers increase, employment and wages are slated to rise. While wages are set to take up a slightly larger share of revenue, profit will also grow.
Industry revenue has declined at a CAGR of 0.2 % over the past five years, to reach an estimated $16.7bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Medtronic | 989.2 | |
Baxter Healthcare | 943.8 | |
Baxter Healthcare | 892.8 |
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Industry revenue is measured across several distinct product and services lines, including Surgical and medical instruments and supplies, Laboratory apparatus and other instruments and Dental equipment and supplies. Surgical and medical instruments and supplies is the largest segment of the Medical and Scientific Equipment Wholesaling in Australia.
High rates of hospital admission boost demand for surgical and medical appliances and apparatus
Wholesalers distribute scientific, medical and other professional equipment. Most wholesalers sell, market, store and transport products. Wholesalers establish relationships with manufacturers and retailers to ensure a reliable supply of and demand for stock.
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ANZSIC 3491 - Medical and Scientific Equipment Wholesaling in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The Medical and Scientific Equipment Wholesaling industry has grown from expanded healthcare funding and an ageing population. Still, it’s now facing a downtrend in revenue b...
Learn about an industry's products and services, markets and trends in international trade.
Surgical and medical appliance demand has risen with hospital admissions and technological advancements, while the instruments segment declined amid preventive care trends. D...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Regions that accommodate many research institutions attract high numbers of medical and scientific equipment wholesalers. Educational institutions and testing organisations u...
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.
Wholesalers compete on price, product quality and quality of goods sold. Those with a wide range of resources and capabilities attain a competitive advantage.
Learn about the performance of the top companies in the industry.
The Medical and Scientific Equipment Wholesaling industry includes many small-scale medical solution providers. With the industry’s extensive product range, small-scale whole...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Total health expenditure influences demand for medical and scientific equipment wholesalers. The COVID-19 pandemic increased hospital admission rates, spurring the government...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
A combination of cost-cutting initiatives and wholesale bypass is constraining wages. In light of the COVID-19 pandemic and wholesale bypass, wholesalers are grappling to mai...
Including values and annual change:
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Key data sources in Australia include:
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These sources include:
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The market size of the Medical and Scientific Equipment Wholesaling industry in Australia is $16.7bn in 2024.
There are 2,459 businesses in the Medical and Scientific Equipment Wholesaling industry in Australia, which has grown at a CAGR of 2.3 % between 2018 and 2023.
The market size of the Medical and Scientific Equipment Wholesaling industry in Australia has been declining at a CAGR of 0.2 % between 2018 and 2023.
Over the next five years, the Medical and Scientific Equipment Wholesaling industry in Australia is expected to grow.
The biggest companies operating in the Medical and Scientific Equipment Wholesaling market in Australia are Medtronic, Baxter Healthcare and Baxter Healthcare
Surgical and medical appliances and apparatus and Surgical and medical instruments and supplies are part of the Medical and Scientific Equipment Wholesaling industry.
The company holding the most market share in Australia is Medtronic.
The level of competition is high and increasing in the Medical and Scientific Equipment Wholesaling industry in Australia.