General Practice Medical Services in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: March 2024
ANZSIC Q8511Revenue
$27.1bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
106k
Businesses
49,982
Wages
$X.Xbn
General Practice Medical Services in Australia industry analysis
The General Practice Medical Industry has performed very well over the past few years. Many industries across Australia suffered during the COVID-19 pandemic as there were many restrictions on trade and movement across Australia. The industry benefited from the pandemic as GPs are the first point of contact in the medical system, providing direct treatment to patients. GPs diagnose health issues and then treat patients accordingly or refer them to someone who can. GPs were vital in responding to the pandemic, and were able to benefit from a spike of demand fuelled by COVID-19 cases. The industry saw an increase in downstream demand for medical services, with continued funding from Medicare to fight the pandemic aiding industry revenue. Industry revenue is expected to have risen at an annualised 1.3% over the five years through 2023-24. This includes an anticipated 1.3% fall in 2023-24, to $27.1 billion.
Trends and Insights
- The population is both growing and ageing. These dual trends are supporting strong revenue growth for GPs as people over 50 make up the majority of demand for medical services.
- Enhanced primary care services are on the rise. The pandemic was isolating for many around Australia, affecting some people’s mental health.
- GP distribution is closely linked with population. The distribution of general practices throughout Australia largely reflects the distribution of the population, as medical services are a necessity.
- Location is key to competition. People don't want to travel far for a GP, especially when they’re unwell. The rising prevalence of telehealth consults may alter the industry’s distribution.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.3 % over the past five years, to reach an estimated $27.1bn in 2024.
Trends and Insights
The pandemic has been causing revenue volatility
- Historically, the General Practice Medical Services industry has low revenue volatility with minimal fluctuations, as the industry has federal government support and backing.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Increasing demand will fuel revenue growth for GP services
- Despite overall population growth set to continue in the coming years, the population aged 65 and over is on track to grow at the fastest rate, raising the median age in Australia.
Biggest companies in the General Practice Medical Services in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Sonic Healthcare | 873.2 | |
Royal Flying Doctor Service | 491.0 | |
Partnered Health Medical Centres | 148.7 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Standard consultations, All other consultations and After-hours services. Standard consultations is the largest segment of the General Practice Medical Services in Australia.
Trends and Insights
Standard consultations remain the largest service segment
- A standard consultation is considered a GP Standard (Level B) professional attendance lasting less than 20 minutes. These appointments include GPs taking patient history, undertaking clinical examinations, arranging investigations if necessary, implementing management plans or providing appropriate preventative health care.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Psychiatric Hospitals in Australia
- Specialist Medical Services in Australia
- Aged Care Residential Services in Australia
- Public General Hospitals in Australia
- Private General Hospitals in Australia
International industries
- Primary Care Doctors in the US
- Primary Care Doctors in Canada
- General Practice Medical Services in New Zealand
- General Medical Practices in the UK
- Arztpraxen für Allgemeinmedizin
Table of Contents
About this industry
Industry definition
Industry firms and practitioners primarily provide general practice medical services.
What's included in this industry?
Standard consultationsAfter-hours servicesEnhanced Primary Care servicesPractice Incentive Program servicesTelehealth (patient-end support) servicesPregnancy support counsellingAcupunctureFocussed Psychological Strategies and Family Group TherapyCompanies
Sonic HealthcareRoyal Flying Doctor ServicePartnered Health Medical CentresPurchase this report to view all 3 major companies in this industry.
Related Terms
PRIMARY CAREBULK-BILLINGSCHEDULE FEEOUT-OF-POCKET EXPENSETHROUGHPUTIndustry Code
ANZSIC 8511 - General Practice Medical Services in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The population is both growing and ageing. These dual trends are supporting strong revenue growth for GPs as people over 50 make up the majority of demand for medical service...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Enhanced primary care services are on the rise. The pandemic was isolating for many around Australia, affecting some people’s mental health.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
GP distribution is closely linked with population. The distribution of general practices throughout Australia largely reflects the distribution of the population, as medical ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Location is key to competition. People don't want to travel far for a GP, especially when they’re unwell. The rising prevalence of telehealth consults may alter the industry’...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
GP clinics benefited from the pandemic. Many clinics were responsible for distributing vaccines and supporting the public by providing GP services as the virus spread across ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Sonic Healthcare's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Royal Flying Doctor Service's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Partnered Health Medical Centres's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Sonic Healthcare, and factors influencing its performance in the industry
- Description and key data for Royal Flying Doctor Service, and factors influencing its performance in the industry
- Description and key data for Partnered Health Medical Centres, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Government funding drives general practice medical services. The Medicare Benefits Scheme pays for a huge proportion of the services GPs provide to the population.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Wage costs are falling as a share of revenue. Implementing digital booking services, like HealthEngine, is reducing the need for administration staff.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the General Practice Medical Services industry in Australia in 2024?
The market size of the General Practice Medical Services industry in Australia is $27.1bn in 2024.
How many businesses are there in the General Practice Medical Services in Australia industry in 2024?
There are 49,982 businesses in the General Practice Medical Services industry in Australia, which has grown at a CAGR of 2.1 % between 2019 and 2024.
Has the General Practice Medical Services industry in Australia grown or declined over the past 5 years?
The market size of the General Practice Medical Services industry in Australia has been growing at a CAGR of 1.3 % between 2019 and 2024.
What is the forecast growth of the General Practice Medical Services industry in Australia over the next 5 years?
Over the next five years, the General Practice Medical Services industry in Australia is expected to grow.
What are the biggest companies in the General Practice Medical Services market in Australia?
The biggest companies operating in the General Practice Medical Services market in Australia are Sonic Healthcare, Royal Flying Doctor Service and Partnered Health Medical Centres
What does the General Practice Medical Services in Australia include?
Standard consultations and After-hours services are part of the General Practice Medical Services industry.
Which companies have the highest market share in the General Practice Medical Services in Australia?
The company holding the most market share in Australia is Sonic Healthcare.
How competitive is the General Practice Medical Services industry in Australia?
The level of competition is moderate and increasing in the General Practice Medical Services industry in Australia.
