Australia Diabetes Drugs and Devices Market Size (2024 - 2029)

The Australian diabetes drugs and devices market is projected to experience growth over the forecast period, driven by factors such as the impact of COVID-19 on diabetes management, increasing obesity rates, and the rising prevalence of diabetes. The pandemic has highlighted the importance of drug therapy for maintaining blood glucose levels, particularly in patients with diabetes complications. Additionally, the growing use of insulin-delivery devices and technological advancements by manufacturers are contributing to the market's expansion. These elements collectively indicate a positive trajectory for the market size in the coming years.

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Market Size of Australia Diabetes Drugs and Devices Industry

Australia Diabetes Drugs and Devices Market Summary
Study Period 2018 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2018 - 2022
CAGR 3.00 %

Major Players

Australia Diabetes Drugs and Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

Australia Diabetes Drugs and Devices Market Analysis

The Australian diabetes drugs and devices market size is estimated at USD 1.4 billion in the current year. The market is expected to reach USD 1.7 billion in five years, registering a CAGR of more than 3% during the forecast period.

The COVID-19 outbreak has accelerated the expansion of the Australian diabetes drug market. People with diabetes infected with COVID-19 can develop high blood sugar levels, irregular blood sugar fluctuations, and diabetic complications. There have been 9,235,681 confirmed COVID-19 cases in Australia since the pandemic began in July 2022, according to the Australian government's Department of Health and Aged Care. The prevalence of diabetes in adults with COVID-19 may be higher than that of patients with type 1 (T1DM) or type 2 (T2DM) diabetes, especially when glycemic control is poor. They are leading to a significant increase in the severity and mortality of cancer. On the other hand, emerging hyperglycemia and diabetes (both T1DM and T2DM) associated with COVID-19 are increasingly recognised and associated with poor prognosis. Patients' blood glucose levels should be checked and maintained regularly to minimize exacerbations, highlighting the importance of drug therapy in diabetes treatment.

Obesity, poor diet, and lack of exercise contribute to the increasing number of newly diagnosed cases of type 1 and 2 diabetes. Rapid increases in the incidence and prevalence of diabetes and healthcare costs in developed countries indicate increased use of diabetes care products. In addition, the rising incidence of diabetes and increasing use of insulin-delivery devices are driving the expansion of the market. Leading manufacturers focus on technological advances and developing improved products to gain significant market share.

Thus, the above factors are expected to drive the market growth over the forecast period.

Australia Diabetes Drugs and Devices Industry Segmentation

Patients with type 1 diabetes must be given insulin because their pancreas cannot process it. To control blood sugar levels, insulin must be given several times daily, such as when eating or drinking. Many people with type 2 diabetes also need to take antidiabetic drugs. These drugs include diabetes medications and injections, such as insulin. The Australia diabetes drugs and devices market is segmented by drugs (insulin, oral anti-diabetic drugs, non-insulin injectable drugs, and combination drugs), and devices (management devices such as insulin pumps, insulin pens, syringes, cartridges, and jet injectors, and monitoring devices including self-monitoring blood and continuous glucose monitoring). The report offers the value (in USD) and volume (in unit) for the above segments.

Devices
Monitoring Devices
Self-monitoring Blood Glucose Devices
Continuous Blood Glucose Monitoring
Management Devices
Insulin Pump
Insulin Syringes
Insulin Cartridges
Disposable Pens
Drugs
Oral Anti-Diabetes Drugs
Insulin Drugs
Combination Drugs
Non-Insulin Injectable Drugs
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Australia Diabetes Drugs and Devices Market Size Summary

The Australian diabetes drugs and devices market is experiencing significant growth, driven by an increasing prevalence of diabetes and the rising demand for advanced diabetes care products. The market is characterized by a shift towards continuous blood glucose monitoring systems and insulin delivery devices, which are becoming more sophisticated and integrated with new technologies like smartphone applications. This evolution is supported by government initiatives such as the National Diabetes Services Scheme, which provides subsidies for blood glucose monitoring products, enhancing accessibility for patients. The market's expansion is further fueled by the growing awareness of diabetes management and the need for effective treatment solutions to address the complications arising from the disease.

The impact of COVID-19 has also accelerated the market's growth, as individuals with diabetes are at a higher risk of severe complications, necessitating improved drug therapies and monitoring solutions. The increasing incidence of diabetes, particularly among children and adolescents, underscores the urgent need for innovative treatments and devices. Major manufacturers are investing heavily in research and development to enhance their product offerings and maintain competitive advantage. Collaborations and strategic partnerships, such as those between Novo Nordisk and Abbott Diabetes Care, are pivotal in driving technological advancements and expanding market reach. As the diabetic population continues to grow, the demand for effective diabetes drugs and devices is expected to rise, propelling the market forward over the forecast period.

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Australia Diabetes Drugs and Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Dynamics

      1. 1.2.1 Market Drivers

      2. 1.2.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products and Services

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. Market Segmentation (Market Size by Value - USD)

    1. 2.1 Devices

      1. 2.1.1 Monitoring Devices

        1. 2.1.1.1 Self-monitoring Blood Glucose Devices

        2. 2.1.1.2 Continuous Blood Glucose Monitoring

      2. 2.1.2 Management Devices

        1. 2.1.2.1 Insulin Pump

        2. 2.1.2.2 Insulin Syringes

        3. 2.1.2.3 Insulin Cartridges

        4. 2.1.2.4 Disposable Pens

    2. 2.2 Drugs

      1. 2.2.1 Oral Anti-Diabetes Drugs

      2. 2.2.2 Insulin Drugs

      3. 2.2.3 Combination Drugs

      4. 2.2.4 Non-Insulin Injectable Drugs

Australia Diabetes Drugs and Devices Market Size FAQs

The Australia Diabetes Drugs and Devices Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Medtronics, Roche, NovoNordisk, Sanofi and Omnipod are the major companies operating in the Australia Diabetes Drugs and Devices Market.

Australia Diabetes Drugs and Devices Market Report Snapshots

Australia Diabetes Drugs and Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)