$16.3bn
$X.Xbn
48,107
24,162
$XX.Xbn
The Specialist Medical Services industry has benefited from Australia's growing and ageing population. Heightened obesity among the Australian population has also contributed to increasing incidences of chronic diseases or disorders, including heart disease, cancer, diabetes and arthritis, which have strengthened demand for specialist medical services. Over the past few years, the Specialist Medical Services industry has faced mixed demand for different areas of specialist practices. The growing prevalence of mental health issues, particularly among young people, following the COVID-19 outbreak has fuelled demand for psychiatrists. On the other hand, Australia's diminishing birthrate has reduced demand for obstetricians and gynaecologists. Overall, industry revenue is expected to climb at an annualised 1.1% to $16.3 billion through the end of 2024-25.
Industry revenue has grown at a CAGR of 1.1 % over the past five years, to reach an estimated $16.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2025 | Revenue ($m)
2025 |
---|---|---|
Sonic Healthcare | 80.0 |
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Industry revenue is measured across several distinct product and services lines, including Physicians, Surgeons and Anaesthetists. Physicians is the largest segment of the Specialist Medical Services in Australia.
Heightened obesity and cancer rates have elevated demand for physicians
The Specialist Medical Services industry includes registered medical practitioners (including medical clinics or group practices) that provide specialist medical services (other than pathology and diagnostic imaging specialities) as a private company or for government agencies or non-profit organisations.
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ANZSIC 8512 - Specialist Medical Services 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.
An ageing population drives steady demand growth in this industry. The need for higher priced and more frequent specialist medical services among older patients underpins ind...
Learn about an industry's products and services, markets and trends in international trade.
The need for cardiologists and oncologists has accelerated. Increased obesity levels and an ageing population are leading to higher rates of cancer and cardiovascular disease...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Northern Territory and Tasmania have the most minor representation of specialist medical services. The remoteness of these regions and the challenges in securing workforc...
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.
Limited price indicators and long waiting times can discourage consumers from seeking better prices. Consumers have limited negotiating power when dealing with in-demand spec...
Learn about the performance of the top companies in the industry.
There are no major companies in the Specialist Medical Services industry. This industry is highly fragmented, comprising many sole practitioners.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Federal funding for Medicare significantly impacts this industry’s revenue. The Federal Government plans to strengthen investment for health function, which is set to boost r...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The tight labour market has elevated wage costs. This industry's average wages have climbed, resulting from workforce shortages in the broader healthcare sector.
Including values and annual change:
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Key data sources in Australia include:
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:
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The market size of the Specialist Medical Services industry in Australia is $16.3bn in 2024.
There are 24,162 businesses in the Specialist Medical Services industry in Australia, which has grown at a CAGR of 4.6 % between 2019 and 2024.
The market size of the Specialist Medical Services industry in Australia has been growing at a CAGR of 1.1 % between 2019 and 2024.
Over the next five years, the Specialist Medical Services industry in Australia is expected to grow.
The biggest company operating in the Specialist Medical Services market in Australia is Sonic Healthcare
Anaesthetist services and Dermatology services are part of the Specialist Medical Services industry.
The company holding the most market share in Australia is Sonic Healthcare.
The level of competition is moderate and steady in the Specialist Medical Services industry in Australia.