The out-patient medical care sector in Australia saw steady growth from 2013 to 2023, with a recorded value of 26.6 million persons in 2023. Over the last two years, the year-on-year variation was 1.17% in 2022 and 1.14% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years leveled off at 1.26%, indicating a gradual slowdown in growth. From 2013 to 2023, year-on-year variations ranged from 1.27% to 1.74% while CAGRs slowly declined from 1.71% in 2013 to 1.26% in 2023.
For the future, forecasts through 2028 suggest a moderate growth pace, with the 5-year forecasted CAGR at 0.85% and an overall forecasted 5-year growth rate of 4.32%. This anticipated trend reflects a deceleration compared to the historical growth rates.
Future trends to watch for include:
- Advancements in telemedicine and digital health technologies.
- Changes in policy impacting healthcare access and funding.
- Shifts in demographic factors, potentially increasing demand due to aging population.
- Economic conditions and their impact on healthcare spending.
- Ongoing public health challenges and their potential effects on out-patient services.
