Australia’s diagnostic imaging market is steadily advancing, supported by the measured adoption of software-driven and precision-focused medical devices. As healthcare providers prioritize efficiency, functional assessment, and improved clinical decision-making, imaging technologies are becoming increasingly central to care delivery. Against this backdrop, Australia’s diagnostic imaging market is projected to grow at a compound annual growth rate (CAGR) of approximately 5% between 2026 and 2036, forecasts GlobalData, a leading intelligence and productivity platform.
GlobalData’s research indicates that Australia accounted for approximately 4% of the Asia-Pacific (APAC) diagnostic imaging market in 2025. While modest in share, the country benefits from consistent technology uptake and ongoing investment in advanced medical devices.
Shagufta Hasan, Medical Devices Analyst at GlobalData, comments: “In the recent years, Australia’s diagnostic imaging sector has demonstrated steady progress in software-driven imaging technologies, supported by sustained funding and research activity. Such developments reflect a growing emphasis on advancing and scaling the existing technologies to enhance clinical utility and support evolving healthcare needs.”
In January 2026, Australia-based medical technology company, 4DMedical secured over $100 million in funding to accelerate the commercialization of its CT:VQ medical device and expand institutional adoption, particularly in the US.
While the funding is primarily aimed at expanding its commercial presence internationally, the development of the device, CT:VQ remain primarily based in Australia. As a cloud-based medical imaging platform, this manufacturing encompasses software engineering, R&D, and data infrastructure activities, which continue to be anchored domestically.
The device delivers detailed ventilation and perfusion insights from standard CT scans, enabling functional lung assessment without the need for additional nuclear medicine procedures. This funding is expected to support ongoing R&D, broader market access, operational scale-up, and ongoing clinical validation activities in Australia, positioning the company for its next phase of growth.
Building on this momentum, the product is currently transitioning from clinical validation toward broader commercial availability across Australian hospitals and radiology networks. Therefore, the funding strengthens not only the company’s international expansion but also supports Australia’s research and innovation base.
While the domestic revenue contribution may remain relatively modest in the near-term, sustained investment into an Australia-headquartered, Australia-developed imaging medical device reinforces local R&D capability, supports high-value employment, and strengthens the country’s competitive position within the diagnostic imaging market.
Hasan concludes: “Continued investment in advanced, locally developed imaging medical devices positions Australia to strengthen its diagnostic capabilities and expand its expertise, not only domestically but also globally. Over time, this momentum is expected to enhance the country’s role within the Asia-Pacific diagnostic imaging landscape.”
Notes
Quotes provided by Shagufta Hasan, Medical Devices Analyst at GlobalData
This item is written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts
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