Australia’s oncology devices market to witness 3% CAGR until 2033

It accounted for 10% of the Asia Pacific market in 2024.

Australia’s oncology devices market is projected to rise at a compound annual growth rate of around 3% through 2033, according to GlobalData.

The sector’s expansion is attributed to increasing cancer cases driven by an ageing population, unhealthy lifestyle trends, and heightened exposure to environmental toxins.

Australia accounted for approximately 10% of the Asia Pacific market last year, supported by strong research initiatives, increased government investment, and collaborations with global players.

However, current devices lack precision to ensure complete removal of cancerous cells, said Shreya Jain, Medical Devices Analyst at GlobalData.

“The oncology devices market in Australia is characterised by limited advanced diagnostics, high prices, and a lack of specialised oncology equipment,” Jain said.