The number of physicians employed in hospitals in Australia stood at 56.96 thousand full-time equivalents in 2023. Over the past 11 years, the data show a generally upward trend in physician employment, with notable increases in certain years. Specifically, there were significant year-on-year increases in 2014 (12.83%) and a steady CAGR over the last five years, averaging 3.39% per year leading up to 2023. Over the next five years, a forecasted average CAGR of 1.99% indicates continued growth, though at a slightly reduced rate as compared to previous years. By 2028, physician employment is projected to increase by 10.36% from 2023 levels.
Future trends to watch for:
- Potential impacts of technological advancements in healthcare, possibly reducing the need for certain physician roles but increasing demand in specialized fields.
- Population health needs and shifts, particularly with an aging population, which may drive demand for healthcare services provided by hospitals.
- Policy and funding changes that could affect hiring practices and the overall healthcare system structure in Australia.
- Trends in medical education and training capacity, which will impact the supply of new physicians entering the workforce.
