Market Size of Australia Diabetes Care Devices Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 704.12 Million |
| Market Size (2029) | USD 795.09 Million |
| CAGR (2024 - 2029) | 2.46 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Diabetes Care Devices Market Analysis
The Australia Diabetes Care Devices Market size is estimated at USD 704.12 million in 2024, and is expected to reach USD 795.09 million by 2029, growing at a CAGR of 2.46% during the forecast period (2024-2029).
According to Australian National Health Survey, one in twenty (5.3%) people had diabetes. Type 2 diabetes was the most common type of diabetes (85.5%), followed by Type 1 diabetes (11.0%) and type not known by the person reporting (4.1%). The main diagnosis for diabetes patients is imbalances in blood glucose levels, which are not in compliance with the standard blood glucose levels. The general lab diagnostic tests can only help to diagnose the disease by physicians. Patients with more fluctuations in glucose levels need to get it checked every day. Patients administering insulin need to check their blood glucose levels frequently, adjust the doses of insulin, or change the medication, if necessary.
The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure in developed countries are indications of the increasing usage of diabetic care products.
Moreover, the increasing adoption of insulin delivery devices and the rising prevalence of diabetes are driving the market growth. Leading manufacturers are focusing on technological innovations and the development of advanced products to gain a substantial share of the market.
The Australian National Diabetes Strategy is designed in response to diabetes and informs how existing limited healthcare resources can be better coordinated and targeted across all levels of Government. This Strategy identifies the most effective and appropriate interventions to reduce the diabetes impact in the community and leads the way internationally in diabetes prevention, management, and research.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
Australia Diabetes Care Devices Industry Segmentation
Diabetes care devices are the hardware, equipment, and software used by diabetes patients to regulate blood glucose levels, prevent diabetes complications, lessen the burden of diabetes, and enhance the quality of life. The australia diabetes care devices market is segmented into monitoring devices, management devices and geography. The report offers the value (in usd) and volume (in units) for the above segments.
| Management Devices | |||||
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| Insulin Syringes | |||||
| Cartridges in Reusable Pens | |||||
| Insulin Disposable Pens | |||||
| Jet Injectors |
| Monitoring Devices | |||||
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Australia Diabetes Care Devices Market Size Summary
The Australian diabetes care devices market is poised for growth, driven by the increasing prevalence of diabetes and the rising adoption of advanced insulin delivery devices. The market is characterized by a semi-consolidated structure, with major players like Abbott, Medtronic, and Novo Nordisk leading through continuous innovation and strategic partnerships. The Australian National Diabetes Strategy plays a crucial role in coordinating healthcare resources and implementing effective interventions to manage and prevent diabetes. Government initiatives such as the National Diabetes Services Scheme and the Pharmaceutical Benefits Scheme further support access to affordable diabetes care products, enhancing market expansion.
The demand for continuous glucose monitoring (CGM) devices is expected to significantly contribute to market growth, offering a convenient alternative to traditional blood glucose monitoring methods. These devices, which provide real-time glucose readings and are becoming more affordable due to technological advancements, are supported by government subsidies through programs like the NDSS. The market's growth is also fueled by the increasing incidence of diabetes among children and young people, necessitating specialized care and technology. As the fastest-growing chronic condition in Australia, diabetes management continues to be a priority, with ongoing developments in diabetes care devices and supportive government policies.
Australia Diabetes Care Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Management Devices
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2.1.1 Insulin Pump
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2.1.1.1 Insulin Pump Device
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2.1.1.2 Insulin Pump Reservoir
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2.1.1.3 Infusion Set
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2.1.2 Insulin Syringes
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2.1.3 Cartridges in Reusable Pens
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2.1.4 Insulin Disposable Pens
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2.1.5 Jet Injectors
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2.2 Monitoring Devices
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2.2.1 Self-monitoring Blood Glucose
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2.2.1.1 Glucometer Devices
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2.2.1.2 Blood Glucose Test Strips
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2.2.1.3 Lancets
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2.2.2 Continuous Glucose Monitoring
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2.2.2.1 Sensors
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2.2.2.2 Durables
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Australia Diabetes Care Devices Market Size FAQs
How big is the Australia Diabetes Care Devices Market?
The Australia Diabetes Care Devices Market size is expected to reach USD 704.12 million in 2024 and grow at a CAGR of 2.46% to reach USD 795.09 million by 2029.
What is the current Australia Diabetes Care Devices Market size?
In 2024, the Australia Diabetes Care Devices Market size is expected to reach USD 704.12 million.
