Report

Australia hospital market is expected to grow at a significant rate during the forecast period, 2024-2028. The increasing prevalence of chronic diseases is the major factor driving the growth of the market. In Australia, 10 common chronic conditions contribute to 37% of hospitalization. These common chronic conditions are arthritis, asthma, back pain, cancer, osteoporosis, chronic kidney disease, cardiovascular disease, chronic obstructive pulmonary disease, diabetes, and mental health conditions. Australia faces diverse health problems comprising sexually transmitted diseases, vaccine-preventable diseases, vector-borne diseases, and foodborne diseases, among other diseases, which are expected to foster the hospital market growth. The increasing geriatric population is also surging the demand for hospitals. As with growing age, immunity level starts declining, and the human body becomes more vulnerable to getting affected by several chronic diseases. Older people suffer from chronic ailments and degenerative diseases and generally require longer hospital stays along with frequent follow-ups to ensure effective treatment.
Approximately half of Australians (46.6%), regardless of age, had at least one chronic disease, and nearly one in five (18.6%) had two or more chronic diseases. Nearly half (49.0%) of all females had one or more chronic diseases, and one in five (20.7%) had two or more. Likewise, 16.4% of males had two or more chronic diseases, and 43.9% had one or more. In Australia, mental and behavioral problems (20.1% or 5.0 million) are the most common chronic condition.
Furthermore, the increasing number of road accidents is also accelerating the Australia Hospital market. Speeding, distracted driving, fatigued driving, and drunk driving are the main causes of road accidents in Australia. According to the Department of Infrastructure, Transport, Regional Development, Communication, and the Arts, 1,123 people died in traffic accidents in 2021. This is an increase of 2.6% from 2020.

Increase in Healthcare Expenditure
After the COVID-19 pandemic, the government of Australia is spending more money on different healthcare services. Australia spent around USD 202.5 billion on health goods and services in 2019-2020. In 2019-2020, healthcare expenditure accounted for 10.2% of the total Gross Domestic Product (GDP) in Australia, which is almost 0.2% higher than in 2018-2019. 41.2% of expenditure was spent on hospitals, i.e., USD 83.5 billion in 2019-2020. Expenditure on hospitals is 2.9% higher than the 2018-2019. The Government of Queensland provides a budget of USD 20.885 billion in operating funding and USD 1.35 billion capital program to deliver fine quality health services to Queenslanders. The growing investments in the hospital sector and overall health sector improvement are expected to create lucrative opportunities for market growth in the coming years.

Improving Healthcare Infrastructure
The health care system provided by Australia's government is among the safest and most economical in the world. Federal, state, territorial, and local governments in Australia all work together to collectively manage it. There are numerous healthcare providers, including general practitioners (GPs), medical specialists, allied health professionals, and nurses who provide primary care services. All Australians have free or affordable access to the majority of healthcare services provided by Medicare and the public hospital system. The number of hospitalizations increased by 6.3% in 2020-2021 comparative to 2.8% in 2019-2020. The increase in hospitalization was highest for private hospitals, i.e., 10.5%, comparative to public hospitals, i.e., 3.6%.
Recent Developments
- Queen Elizabeth Hospital Redevelopment: Stage III A- The project is a component of a significant rehabilitation of a 327-bed acute-care teaching hospital that offers inpatient, outpatient, emergency, and mental health services to more than 250,000 people.
- Pinkenba Quarantine Facility- In Pinkenba, Queensland, a 1,000-bed COVID-19 quarantine hub will be built on a 30-hectare of land. In Queensland, the initiative intends to provide quarantine facilities and serve as a replacement for hotel quarantine. When finished, the facilities will provide accommodation for about 1,450 people.
- Weststate Private Hospital- On 0.16 acres of land in Brisbane, Queensland, a five-storey private hospital with 22 beds is being built as part of the project. The project seeks to renovate the former Townsville West State School at West End to offer improved healthcare services, including orthopedics, cardiology, urology, and maxillofacial surgery.

Market Segmentation
Australia hospital market is segmented into ownership, type, type of services, bed capacity, and region. Based on ownership, the market is bifurcated into Public and Private. Based on type, the market is further divided into General, Specialty, and Multi-Specialty. Based on the type of services, the market can be further bifurcated into in-patient services and outpatient services. Based on bed capacity, the market is divided into Up to 100 beds, 100-500 beds, and Above 500 beds.

Market Players
The major players operating in the Australia hospital market are Ramsay Health Care Limited, Healthscope Pty Ltd, St John of God Health Care Inc, Nexus Day Hospitals Pty Ltd, Health Care Australia Pty Ltd, Cura Day Hospitals Group Pty Ltd, Western Private Hospital, SA Health, Alfred Health, St Vincent's Health Australia, among others. Major companies are adopting advanced technologies for treatment and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Report Scope:
In this report, Australia hospital market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
- Australia Hospital Market, By Ownership:
o Public
o Private
- Australia Hospital Market, By Type:
o General
o Specialty
o Multi-Specialty
- Australia Hospital Market, By Type of Services:
o In-Patient Services
o Out-Patient Services
- Australia Hospital Market, By Bed Capacity:
o Up to 100 beds
o 100-500 beds
o Above 500 beds
- Australia Hospital Market, By Region:
o Australia Capital Territory & New South Wales
o Northern Territory & Southern Australia
o Western Australia
o Queensland
o Victoria & Tasmania
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Australia hospital market.

Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).