Market Size of Australia Diabetes Care Drugs Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 815.19 Million |
| Market Size (2029) | USD 972.88 Million |
| CAGR (2024 - 2029) | 3.60 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Australia Diabetes Care Drugs Market Analysis
The Australia Diabetes Care Drugs Market size is estimated at USD 815.19 million in 2024, and is expected to reach USD 972.88 million by 2029, growing at a CAGR of 3.60% during the forecast period (2024-2029).
The COVID-19 epidemic boosted the expansion of the Australia Diabetes Care Drugs Market. Diabetes patients infected with COVID-19 may have high blood glucose levels, irregular glucose variability, and diabetic complications. According to the Australian Government Department of Health and Aged Care, there have been 92,35,681 confirmed cases of COVID-19 in Australia since the pandemic's commencement in July 2022. Diabetes prevalence in adults with COVID-19 produced a substantial increase in COVID-19 severity and mortality in people with type 1 (T1DM) or type 2 diabetes mellitus (T2DM), particularly in connection with poor glycemic control. While new-onset hyperglycemia and diabetes (both T1DM and T2DM) have become more recognized in the setting of COVID-19 and have been linked to worse outcomes. To minimize aggravation, a patient's blood glucose should be checked and maintained on a regular basis, emphasizing the significance of diabetes care medicines.
Obesity, a poor diet, and physical inactivity are all contributing to a rise in the number of newly diagnosed Type 1 and Type 2 diabetes cases. The fast-rising incidence and prevalence of diabetes patients, as well as healthcare spending in industrialized nations, are indicators of increased use of diabetic care products. Furthermore, rising diabetes incidence and increased usage of insulin delivery devices are boosting market expansion. Leading manufacturers are focused on technical advancements and the creation of improved goods to achieve a significant market share.
Australia Diabetes Care Drugs Industry Segmentation
Diabetes or diabetes mellitus describes a group of metabolic disorders characterized by a high blood sugar level in a person. With diabetes, the body either does not produce enough insulin or the body's cells do not respond properly to insulin, or both. Australia Diabetes Care Drugs Market is segmented by drugs (oral anti-diabetic drugs (Biguanides, Alpha-Glucosidase inhibitors, Dopamine D2 receptor agonists, SGLT-2 inhibitors, DPP-4 inhibitors, Sulfonylureas, and Meglitinides), insulin (Basal or long-acting insulins, bolus or fast-acting insulins, traditional human insulins, biosimilar insulins), non-insulin injectable drugs (GLP-1 receptor agonists and Amylin Analogue), and combination drugs (insulin combinations and oral combinations)). The report offers the value (in USD million) and Volume (in units million) for the above segments.
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Australia Diabetes Care Drugs Market Size Summary
The Australia Diabetes Care Drugs Market is poised for significant growth over the forecast period, driven by an increasing prevalence of diabetes and the rising demand for effective diabetes management solutions. The market's expansion is further fueled by the impact of the COVID-19 pandemic, which highlighted the critical need for diabetes care due to the complications arising from high blood glucose levels in infected individuals. The growing incidence of Type 1 and Type 2 diabetes, exacerbated by factors such as obesity, poor diet, and physical inactivity, underscores the importance of diabetes care drugs. The market is characterized by a mix of oral and injectable medications, with oral anti-diabetes drugs expected to see substantial growth due to their widespread use among the diabetic population. The Australian National Diabetes Strategy plays a pivotal role in integrating healthcare resources to combat diabetes effectively, setting a benchmark for diabetes prevention and care.
The competitive landscape of the diabetes care drugs market in Australia is moderately fragmented, with major players like Novo Nordisk, Sanofi, AstraZeneca, and Bristol Myers Squibb dominating the insulin and SGLT-2 drug segments. The market for oral drugs, including Sulfonylureas and Meglitinides, is more populated with generic players, intensifying competition as companies strive to innovate and offer competitive pricing. The demand for diabetes care drugs is further bolstered by increased awareness and the need for regular blood glucose monitoring to manage the condition effectively. Government initiatives, such as the extension of access to insulin through the Pharmaceutical Benefits Scheme, highlight the supportive regulatory environment for market growth. As the market continues to evolve, players are exploring new markets, particularly in emerging economies, to expand their reach and meet the high demand for diabetes care solutions.
Australia Diabetes Care Drugs 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 Oral Anti-diabetic drugs
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2.1.1 Biguanides
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2.1.1.1 Metformin
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2.1.2 Alpha-Glucosidase Inhibitors
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2.1.2.1 Alpha-Glucosidase Inhibitors
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2.1.3 Dopamine D2 receptor agonist
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2.1.3.1 Bromocriptin
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2.1.4 SGLT-2 inhibitors
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2.1.4.1 Invokana (Canagliflozin)
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2.1.4.2 Jardiance (Empagliflozin)
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2.1.4.3 Farxiga/Forxiga (Dapagliflozin)
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2.1.4.4 Suglat (Ipragliflozin)
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2.1.5 DPP-4 inhibitors
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2.1.5.1 Onglyza (Saxagliptin)
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2.1.5.2 Tradjenta (Linagliptin)
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2.1.5.3 Vipidia/Nesina(Alogliptin)
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2.1.5.4 Galvus (Vildagliptin)
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2.1.6 Sulfonylureas
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2.1.6.1 Sulfonylureas
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2.1.7 Meglitinides
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2.1.7.1 Meglitinides
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2.2 Insulins
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2.2.1 Basal or Long Acting Insulins
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2.2.1.1 Lantus (Insulin Glargine)
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2.2.1.2 Levemir (Insulin Detemir)
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2.2.1.3 Toujeo (Insulin Glargine)
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2.2.1.4 Tresiba (Insulin Degludec)
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2.2.1.5 Basaglar (Insulin Glargine)
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2.2.2 Bolus or Fast Acting Insulins
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2.2.2.1 NovoRapid/Novolog (Insulin Aspart)
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2.2.2.2 Humalog (Insulin Lispro)
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2.2.2.3 Apidra (Insulin Glulisine)
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2.2.3 Traditional Human Insulins
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2.2.3.1 Novolin/Actrapid/Insulatard
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2.2.3.2 Humulin
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2.2.3.3 Insuman
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2.2.4 Biosimilar Insulins
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2.2.4.1 Insulin Glargine Biosimilars
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2.2.4.2 Human Insulin Biosimilars
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2.3 Non-Insulin Injectable drugs
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2.3.1 GLP-1 receptor agonists
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2.3.1.1 Victoza (Liraglutide)
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2.3.1.2 Byetta (Exenatide)
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2.3.1.3 Bydureon (Exenatide)
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2.3.1.4 Trulicity (Dulaglutide)
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2.3.1.5 Lyxumia (Lixisenatide)
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2.3.2 Amylin Analogue
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2.3.2.1 Symlin (Pramlintide)
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2.4 Combination drugs
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2.4.1 Insulin combinations
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2.4.1.1 NovoMix (Biphasic Insulin Aspart)
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2.4.1.2 Ryzodeg (Insulin Degludec and Insulin Aspart)
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2.4.1.3 Xultophy (Insulin Degludec and Liraglutide)
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2.4.2 Oral Combinations
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2.4.2.1 Janumet (Sitagliptin and Metformin)
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Australia Diabetes Care Drugs Market Size FAQs
How big is the Australia Diabetes Care Drugs Market?
The Australia Diabetes Care Drugs Market size is expected to reach USD 815.19 million in 2024 and grow at a CAGR of 3.60% to reach USD 972.88 million by 2029.
What is the current Australia Diabetes Care Drugs Market size?
In 2024, the Australia Diabetes Care Drugs Market size is expected to reach USD 815.19 million.
