Best 10 Healthcare Companies in Australia 2024
By 2024, many companies in Australia are trying to innovate and give services that are essential for its population. These firms play a very crucial part not only in giving quality care but also by bringing about medical changes that touch the lives of millions across the continent. This is a list of Australian healthcare’s top ten corporations by 2024 — from pharmaceutical giants to breakthrough medical technology enterprises.
In this article, we will look at the top 10 healthcare companies in Australia as of 2024.
- CSL Limited
Market Cap: $133.18 billion
CSL Limited is a leading biotechnology company in Australia operating within three main segments including CSL Behring, CSL Seqirus and CSL Vifor.
- CSL Behring concentrates on developing cures for various diseases especially regarding plasma products as well as gene therapies.
- Influenza vaccines are made by CSL Seqirus and contribute significantly to global influenza prevention.
- CSL Vifor sells iron deficiency products which have a huge impact on improving the lives of people with an insufficiency of iron.
During Q4 2023, CSL released net profit after tax at $2.61 billion, this was a 20% rise on constant currency basis; the company’s revenues also increased by roughly 31% due to strong sales growth mainly in immunoglobulin items. The purchase of Vifor Pharma has been finalized successfully, and HEMGENIX (the first cure for hemophilia B) has been approved by FDA authorities.
2. Cochlear Limited
Market Cap: $15.9 billion
Since inception in 1981,Cochlear limited has remained the market leader in implantable hearing solutions. Cochlear spends more than AUD180 million per year on research and development alone.
Their top selling items include Cochlear Osia 2 System and Cochlear Nucleus sound processors that have impacted over six hundred thousand lives worldwide suffering from hearing loss.
Cochlear actively lobbies for policies that can improve access to implants for hearing.
Cochlear announced a revenue increase of 24% in 1Q 2024, amounting to $1.1 billion. Net income was AUD191.4 million and basic earnings per share were AUD2.919.
3. ResMed Inc
Market Cap: $28.24 billion
Resmed is a top healthcare firm that focuses on digital health technology and remedies for respiratory issues.
CPAP TECHNOLOGY: This company was founded in 1989 as a global brand with its innovative sleep apnea CPAP (continuous positive airway pressure) technology.
FULL RANGE: It provides a variety of devices and software to support self-care from home.
In the most recent quarter, compared to Q4 2022; there was an increase in sales, which was up by 23%, increased operating income by 8% and raised the quarterly dividend by 9% to $0.48 per share.
4. Pro Medicus Limited
Market Cap: $6.54 billion
Pro Medicus is a company that develops highly sophisticated medical imaging software solutions for hospitals, radiology groups, and clinical research organizations worldwide.
- COMPREHENSIVE PRODUCTS: They provide visage ris and visage seven products with advanced visualization capabilities for the clinical imaging market place including diagnostic service providers and other healthcare facilities.
- UNIFIED MANAGEMENT SYSTEMS: Their PACS solution has been combined with digital image management software thereby improving communication among different clinics in the same facility or between various institutions within the same building block.
During this period, revenue from ordinary activities amounted to $74.1 million for year ended June 30th, 2023 up by 30.3%.
5. EBOS Group Limited
Market Cap: $4.098 billion
EBOS Group Limited deals in marketing, wholesaling and distribution of health care products, pharmaceuticals products, & animal health care products hence requires to be handled carefully being one of the major players within the sector it operates.
SUPERIOR COVERAGE AREA: Established in 1922 it has branch offices across Australia New Zealand as well as South East Asia employing over five thousand staff members working on full time basis.
DIVERSE ACTIVITIES: It has two divisions that are; healthcare and animal care segments.
For Q4 2023, EBOS has witnessed a rise in its revenue of around 5.9%.
ResMed Inc
Market Cap: $28.24 billion
Resmed is a top healthcare firm that focuses on digital health technology and remedies for respiratory issues.
CPAP TECHNOLOGY: This company was founded in 1989 as a global brand with its innovative sleep apnea CPAP (continuous positive airway pressure) technology.
FULL RANGE: It provides a variety of devices and software to support self-care from home.
In the most recent quarter, compared to Q4 2022; there was an increase in sales, which was up by 23%, increased operating income by 8% and raised the quarterly dividend by 9% to $0.48 per share.
Pro Medicus Limited
Market Cap: $6.54 billion
Pro Medicus is a company that develops highly sophisticated medical imaging software solutions for hospitals, radiology groups, and clinical research organizations worldwide.
COMPREHENSIVE PRODUCTS: They provide visage ris and visage seven products with advanced visualization capabilities for the clinical imaging market place including diagnostic service providers and other healthcare facilities.
UNIFIED MANAGEMENT SYSTEMS: Their PACS solution has been combined with digital image management software thereby improving communication among different clinics in the same facility or between various institutions within the same building block.
During this period, revenue from ordinary activities amounted to $74.1 million for year ended June 30th, 2023 up by 30.3%.
EBOS Group Limited
Market Cap: $4.098 billion
EBOS Group Limited deals in marketing, wholesaling and distribution of health care products, pharmaceuticals products, & animal health care products hence requires to be handled carefully being one of the major players within the sector it operates.
SUPERIOR COVERAGE AREA: Established in 1922 it has branch offices across Australia New Zealand as well as South East Asia employing over five thousand staff members working on full time basis.
DIVERSE ACTIVITIES: It has two divisions that are; healthcare and animal care segments.
For Q4 2023, EBOS has witnessed a rise in its revenue of around 5.9%.
Telix Pharmaceuticals Limited
Market Cap: $2.655 billion
Telix Pharmaceuticals Limited deals with diagnostic and therapeutic oncology as well as rare diseases.
Theranostic Approach: Telix’s theranostic approach combines diagnostics and therapeutics for personalized treatment.
Lead Programs: They have TLX591-CDx, TLX250-CDx/TLX250 and TLX101-CDx/TLX101 as their lead programs for prostate cancer, renal cancer, glioblastoma respectively.
During the Q4 2023, Telix Group reported total group revenue of $220.8M reflecting a ninefold growth compared to H1 2022. This resulted in a net loss after tax being reduced by 80% to $14.3 Million implying adjusted EBITDAR was only $82.4M.
Polynovo Limited
Market Cap: $2.16 billion
PolyNovo Limited is widely recognized for its pioneering medical devices that employ patented bioabsorbable polymer technology called Novosorb.
NovoSorb BTM: Their flagship product NovoSorb BTM has redefined reconstructive surgery and tissue repair thanks to FDA clearance and significant funding for full thickness burns trials.
Number of Employees: The company has about one hundred fifty (150) workers in the organization world wide.
In Q4 2023, Polynovo had revenues of NOK 47,426 including inventory of raw materials, finished goods and spare parts equipment on hand at year end.
Summerset Group Holdings Limited
Market Cap: $4.24 billion
Summerset Group Holdings Ltd builds and operates retirement villages and care facilities in New Zealand offering residential living aged-care services.
Village Network: Having 38 villages catering to over 7,400 residents across the country Summerset provides different levels of care including independent living as well as rest home.
Financial Performance: Revenue reached NZD 713.76m for the year which is a significant increase from NZD 507.47m in the previous year. There was a substantial increase in net income to NZD 436.32m.
Fisher & Paykel Healthcare Corporation Limited
Market Cap: $9.12 billion
Respiratory and acute care innovation has been a mainstay at Fisher & Paykel Healthcare Corporation Limited.
Revenue Performance: In the Q4 2023, sales company reported total operating revenue of $1.58 bn, down 6% from previous year; profit after tax was $250.3 mln, a drop of 34%.
Product Growth: Despite Hospital product revenue decreasing by 15%, Homecare product revenue set an all-time high of $553.8 million, increasing by 18%.
Sonic Healthcare Limited
Market Cap: $9.88 billion
The company runs medical and administrative services in many countries.
Global Operations: With a workforce of about 38,000 employees, Sonic has its presence in such places as Australia, New Zealand, Germany, Switzerland, UK, Belgium, Ireland and the US.
Diagnostic Services: These are critical for diagnosis of diseases and treatment monitoring purposes as well as global patient care.
In Q4’2023, a total profit of A$685 million was reported by Sonic on sales worth A$8.2 billion during FY2023 thus showing that it is going strong and believes in quality healthcare provision.
Conclusion
Australia’s health sector in 2024 remains diverse and committed to innovation. CSL Limiteds Cochlear Limited’s and ResMed Inc., which are leading biotech companies providing Cochlear Implants Hearing Solutions Non-Invasive Ventilation Drugs (NIVD) have been seen to achieve pioneering results in the fields of biotechnology for implantable hearing solutions and digital health technology respectively. Pro Medicus Ltd together with EBOS Group Ltd among others also contribute significantly towards ensuring that patients receive superior quality medical services that lead to enhanced recovery rates. As the industry continues evolving so shall these top ten healthcare firms likely remain at the core of shaping Australia’s healthcare scene.
