Australia Self-Monitoring Blood Glucose Market Size (2024 - 2029)

The Australia Self-Monitoring Blood Glucose Market is projected to experience growth over the forecast period, driven by advancements in technology and the increasing need for effective diabetes management. The market's expansion is influenced by the critical role of blood glucose monitoring in preventing complications associated with diabetes, particularly in the context of heightened risks during the COVID-19 pandemic. Technological innovations, such as cellular-connected devices for real-time data sharing, are enhancing the ability to manage blood glucose levels effectively, thereby improving patient outcomes and contributing to the market's growth trajectory.

Home Market Analysis Healthcare Research Medical Devices Research Diagnostic Devices Research Clinical Diagnostic Devices Research Monitoring Devices Research Single time Monitoring Devices Research Australia Self-Monitoring Blood Glucose Market Market Size

Market Size of Australia Self-Monitoring Blood Glucose Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Australia Self-Monitoring Blood Glucose Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 197.65 Million
Market Size (2029) USD 258.33 Million
CAGR (2024 - 2029) 5.50 %

Major Players

Australia Self-Monitoring Blood Glucose Market 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?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Australia Self-Monitoring Blood Glucose Market Analysis

The Australia Self-Monitoring Blood Glucose Market size is estimated at USD 197.65 million in 2024, and is expected to reach USD 258.33 million by 2029, growing at a CAGR of 5.5% during the forecast period (2024-2029).

During the COVID-19 pandemic, patients with diabetes were at higher risk for hospitalizations and complications due to hyper- or hypoglycemia, metabolic comorbidities, and more severe illness from SARS-CoV-2 infection. According to the Australian Bureau of Statistics, COVID-19 data from January 2020 to March 2022, pre-existing chronic conditions such as diabetes were reported on death certificates for 3,600 (73%) of the 4,900 deaths due to COVID-19. Diabetes was a pre-existing condition in 20% of the 3,600 deaths. Maintaining euglycemia was important to decrease morbidity and mortality in the hospital setting. According to experts, inpatient use of diabetes technology in patients with proper institutional protocols was safe and improved inpatient glycemic outcomes and played a vital role in managing hypoglycemia and hyperglycemia in hospitalized patients.

Continued elevation in blood glucose levels in diabetes patients can contribute to progressive complications such as renal, nerve, and ocular damage. The measurement of blood glucose helps determine the effectiveness of blood glucose metabolism and guides in achieving optimal glucose control within the body. Over time the readings provide the patient and their health professionals with the information required to determine the best management strategy for diabetes. Appropriate and timely blood glucose monitoring allows the successful management of out-of-range blood glucose levels, minimizing diabetic-related health complications.

Technological advancements in blood glucose meters, including cellular-connected devices that automatically upload SMBG data to secure cloud-based databases, allow for improved sharing and monitoring of SMBG data. Real-time monitoring of SMBG data presents opportunities to provide timely support to patients responsive to abnormal SMBG recordings. Such advantages can provide patients with poorly controlled T2D additional support needed to improve critical outcomes, thereby enhancing the market prospects in future years.

Australia Self-Monitoring Blood Glucose Industry Segmentation

Self-monitoring of blood glucose is used by diabetic patients to measure their blood sugar level using a glucometer, test strips, and lancets. Based on the readings, patients can adjust or check the effect of their treatment. The Australia Self-Monitoring Blood Glucose Market is segmented into Components (Glucometer Devices, Test Strips, Lancets). The Australia Self-Monitoring Blood Glucose Market is segmented into components (Glucometer Devices, Test Strips, Lancets). The report offers the value (in USD million) and volume (in Units million) for the above segments.

Component (Value and Volume, 2017 - 2028)
Glucometer Devices
Test Strips
Lancets
Need A Different Region Or Segment?
Customize Now

Australia Self-Monitoring Blood Glucose Market Size Summary

The Australia Self-Monitoring Blood Glucose Market is poised for significant growth over the forecast period, driven by the increasing prevalence of diabetes and advancements in monitoring technology. The market is characterized by a moderate level of fragmentation, with key players such as Abbott, LifeScan, F. Hoffmann-La Roche AG, and Ascensia holding substantial market shares. The market dynamics are influenced by the rising demand for effective diabetes management solutions, particularly in the wake of the COVID-19 pandemic, which highlighted the vulnerabilities of diabetic patients. Technological innovations, such as cellular-connected devices and non-invasive monitoring methods, are enhancing the capabilities of blood glucose meters, facilitating real-time data sharing and improving patient outcomes. These developments are expected to bolster the market's growth prospects, as they offer new opportunities for timely intervention and support for individuals with poorly controlled diabetes.

The market's expansion is further supported by government initiatives and healthcare policies aimed at providing affordable access to diabetes management tools and services. The National Diabetes Services Scheme (NDSS) plays a crucial role in offering subsidized access to essential products like blood glucose test strips and continuous glucose monitors (CGMs). The test strips segment, in particular, is anticipated to experience robust growth due to its recurring use and integral role in daily diabetes management. The Australian government's commitment to supporting diabetes care through various programs and funding schemes underscores the importance of self-monitoring in preventing diabetes-related complications. As the fastest-growing chronic condition in Australia, diabetes management remains a priority, with ongoing efforts to align healthcare resources and strategies to meet the needs of the population effectively.

Explore More

Australia Self-Monitoring Blood Glucose Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Drivers

    3. 1.3 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 Component (Value and Volume, 2017 - 2028)

      1. 2.1.1 Glucometer Devices

      2. 2.1.2 Test Strips

      3. 2.1.3 Lancets

Australia Self-Monitoring Blood Glucose Market Size FAQs

The Australia Self-Monitoring Blood Glucose Market size is expected to reach USD 197.65 million in 2024 and grow at a CAGR of 5.5% to reach USD 258.33 million by 2029.

In 2024, the Australia Self-Monitoring Blood Glucose Market size is expected to reach USD 197.65 million.

Australia Self-Monitoring Blood Glucose Report Snapshots

Australia Self-Monitoring Blood Glucose Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)