Australia Insulin Infusion Pump Market Size (2024 - 2029)

The market size for insulin infusion pumps in Australia is anticipated to experience growth over the forecast period, driven by the increasing need for effective diabetes management. The COVID-19 pandemic highlighted the critical role of diabetes care, as individuals with diabetes faced heightened risks and complications. This has underscored the importance of advanced diabetes management solutions, such as insulin pumps, which are being adopted rapidly in Australia due to the country's robust healthcare system and stringent reimbursement policies. These factors contribute to the expansion of the market, as they facilitate the integration of new technologies to improve patient outcomes.

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Market Size of Australia Insulin Infusion Pump Industry

Australia Insulin Infusion Pump Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.60 %

Major Players

Australia Insulin Infusion Pump Market Major Players

*Disclaimer: Major Players sorted in no particular order

Australia Insulin Infusion Pump Market Analysis

Australia's Insulin Infusion Pumps Market is expected to register a CAGR of more than 4.6% and reach a value of about USD 124 million over the forecast period.

Diabetes was one of the leading risk factors for severe COVID-19. Various diabetes-related features, such as advanced age, hyperglycemia, and underlying conditions (hypertension, cardiovascular disease, chronic renal disease, and obesity), were hypothesized to influence this risk. Diabetes was quickly identified as a risk factor for poor outcomes during the COVID-19 pandemic, emphasizing the importance of diabetes care or prevention more than ever. Multiple studies found that those infected with COVID-19 had fewer insulin secretory granules in beta cells and had lower glucose-stimulated insulin output. Furthermore, despite having no history of diabetes, some people developed insulin resistance and had high blood glucose levels throughout the epidemic.

Diabetes has been related to a plethora of health problems. Acute and chronic, life-threatening disorders may develop from abnormally high or low blood glucose levels. A multidisciplinary approach to diabetes care is required to enhance patient outcomes. Appropriate and quick blood glucose monitoring allows for successful control of out-of-range blood glucose levels, resulting in a reduction in diabetic-related health effects. When comparing populations with and without diabetes, those with diabetes are more likely to be hospitalized and, as a result, have more significant healthcare expenditures than non-diabetics. Diabetes sufferers are more prone to suffer serious effects. Australia is a developed country with excellent healthcare. Insulin pump devices are being deployed faster in Australia than in other developing countries. Furthermore, reimbursement and pricing laws are strictly enforced, which drives the market and accelerates the adoption of new and advanced technologies.

Australia Insulin Infusion Pump Industry Segmentation

An insulin pump is used to deliver insulin to achieve proper blood sugar control and minimize hypoglycemia's effects. The pump is composed of a pump reservoir like an insulin cartridge, a battery-operated pump, and a computer chip that allows the user to control the exact amount of insulin being delivered. The pump is attached to a thin plastic tube (an infusion set) with a soft cannula (or needle) at the end through which insulin passes. The Australia insulin infusion pumps market is segmented by component (pump device, infusion set, and reservoir). The report offers the value (in USD million) and Volume (in units Million) for the above segments.

Insulin Infusion Pump
Insulin Pump Device
Infusion Set
Reservoir
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Australia Insulin Infusion Pump Market Size Summary

The insulin infusion pump market in Australia is poised for growth, driven by the increasing prevalence of diabetes and the rising adoption of advanced diabetes management technologies. Insulin pumps, which offer a continuous or on-demand insulin delivery system, are becoming a preferred choice for individuals with type 1 diabetes, providing near-physiological insulin delivery. The market is supported by Australia's robust healthcare infrastructure and stringent reimbursement and pricing regulations, which facilitate the rapid deployment of these devices. Despite the high cost and limited access for those without private health insurance, government initiatives and subsidies are aimed at expanding access to insulin pump therapy. The market's expansion is further bolstered by the government's focus on preventive health strategies and the efforts of organizations like the Australian Diabetes Society, which advocate for improved diabetes care and education.

The competitive landscape of the insulin infusion pump market in Australia is characterized by the presence of both international and local players, including Medtronic PLC, Insulet Corporation, Ypsomed, Ascensia Diabetes Care, and Tandem Diabetes Care. These companies are instrumental in driving innovation and providing advanced solutions for diabetes management. Recent government actions, such as subsidizing the Omnipod insulin pumps and expanding access to continuous glucose monitoring products, underscore the commitment to enhancing diabetes care. The market is expected to continue its upward trajectory as the incidence of type 1 diabetes rises and the demand for effective diabetes management solutions increases, despite challenges related to funding and access disparities.

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Australia Insulin Infusion Pump Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Insulin Infusion Pump

      1. 2.1.1 Insulin Pump Device

      2. 2.1.2 Infusion Set

      3. 2.1.3 Reservoir

Australia Insulin Infusion Pump Market Size FAQs

The Australia Insulin Infusion Pump Market is projected to register a CAGR of greater than 4.60% during the forecast period (2024-2029)

Medtronics, Ascensia Diabetes Care, Insulet Corporation, Tandem Diabetes Care and Ypsomed are the major companies operating in the Australia Insulin Infusion Pump Market.

Australia Insulin Infusion Pump Market Report Snapshots

Australia Insulin Infusion Pump Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)