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

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.