Vishnupriya
New Delhi: Australia faces a growing challenge from increasing cancer cases, driven by an aging population, unhealthy lifestyles, and greater exposure to environmental toxins. This has led to a rising demand for oncology devices.
According to GlobalData, the country’s oncology devices market is expected to grow at a compound annual growth rate (CAGR) of around 3 per cent through 2033.
In 2024, Australia made up about 10 per cent of the Asia-Pacific oncology devices market. This growth is supported by strong research efforts, increased government investment in cancer care, and partnerships with global companies to improve patient outcomes.
One recent development is the funding of $2.5 million secured by OncoRes Medical, a Perth-based medical device company, through the Medical Research Future Fund. The funds will support the development of a device to help surgeons more accurately identify cancer cells during surgery, potentially reducing the need for follow-up procedures and improving treatment success.
Shreya Jain, Medical Devices Analyst at GlobalData, comments: “The current oncology devices often lack the precision needed to ensure the complete removal of cancerous cells during surgery. In addition, the oncology devices market in Australia is characterized by limited advanced diagnostics, high prices, and a lack of specialized oncology equipment. Even though the healthcare system is well developed, there is a lack of sufficient domestic manufacturing capabilities of specialized medical devices such as oncology equipment.”
By enabling surgeons to more accurately identify and thus remove cancerous tissue during surgery, OncoRes Medical’s new imaging technology can potentially improve patient outcomes by decreasing the necessity for postoperative procedures and improving overall cancer treatment success.
Jain concludes: “The focus on advancing oncology care in Australia is likely to center on advancing precision diagnostics, enhancing minimally invasive technologies, and integrating AI-driven solutions to improve early cancer detection and treatment. Prioritizing local manufacturing with the help of government support will also reduce reliance on imports and ensure tailored solutions for the Australian population.”
