Dublin, Nov. 25, 2024 (GLOBE NEWSWIRE) — The “Australia Diabetes Market Forecast Report by Type, End User and Company Analysis 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
Australia Diabetes Devices market is expected to reach US$ 579.4 Million in 2023 to US$ 1.11 billion by 2032, with a CAGR of 7.55% from 2024 to 2032
The market is mainly driven by rising obesity rates, increased use of insulin delivery devices, increasing prevalence of diabetes, and improved technology. To capture a sizable share of the market, major manufacturers are focusing on technological innovation and the development of cutting-edge products.
The Australian National Health Survey found that 5.3%, or one in twenty, had diabetes. The most frequent type of diabetes was found to be type 2 (85.5%), followed by type 1 (11.0%) and type not known to the person reporting (4.1%). Unbalances in blood glucose levels that do not correspond to normal blood glucose levels are the primary diagnosis for people with diabetes. Only doctors can use common lab diagnostic tests to assist diagnose a patient. Individuals whose blood glucose levels fluctuate more frequently should have it monitored daily. Patients who are giving themselves insulin must regularly monitor their blood glucose levels and, if needed, modify their prescription or insulin dosage.
Growth Drivers for the Australia Diabetes Device Market
Rising Rate of Diabetes
Diabetes Australia reports that diabetes is the chronic condition with the fastest rate of growth in Australia, outpacing the growth of other chronic illnesses like cancer and heart disease.
There are currently approximately 1.9 million diabetics in Australia, comprising approximately 1.5 million known and registered cases of all types of diagnosed diabetes and an estimated 500,000 cases of type 2 diabetes that are not yet identified. Diabetes is becoming more common among children and teenagers. Type 1 diabetes affects almost all children and young adults with the disease. Furthermore, type 2 diabetes is striking youngsters at younger ages. Diabetes therapies and related technology, as well as access to care from a multidisciplinary pediatric diabetes team, are among the special needs of children and young adults with type 1 and type 2 diabetes.
The maintenance of blood glucose levels within a given target range is one of the primary goals of diabetes treatment. It can be accomplished by striking a balance between diet, exercise, way of life, and diabetes medications. Readings from blood glucose monitors give the information needed to choose the most effective diabetes care plan. A person’s risk of acquiring diabetes-related problems, such as diabetic retinopathy, heart disease, renal disease, etc., can be decreased by maintaining blood glucose levels within a target range.
Introduction of New and Technically Advanced Products to Fuel the Market Growth for Diabetes Devices
One of the key elements propelling the market expansion in Australia is the introduction of new products in the diabetes treatment and monitoring systems category. An increase in the prevalence of diabetes, coupled with changes in sedentary lifestyles and urbanization. The market is growing due to advancements in technology for diabetes devices as well as a rise in the number of people with diabetes.
The primary driver of the market expansion is the increase in funding for diabetes care made by both public and private entities. The market is growing due to advancements in digital health technology and the availability of software applications for diabetes management.
Additionally, the market is currently growing at an accelerated rate due to the rising demand for diabetes care devices. One of the main causes of diabetes in the general population is the growth in obesity. Men are more likely than women to be obese. Risk factors driving the market expansion include a rise in obesity incidence that is directly linked to an increase in diabetes prevalence.
Australia Diabetes Devices Company Analysis
The major participants in the Australia Diabetes Device market includes Novo Nordisk A/S, Eli Lilly, Roche, Abbott Laboratories, Insulet Corporation, Dexcom Inc, Medtronic, Ypsomed AG.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 70 |
| Forecast Period | 2023 – 2032 |
| Estimated Market Value (USD) in 2023 | $0.58 Billion |
| Forecasted Market Value (USD) by 2032 | $1.11 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Australia |
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Australia Diabetes Devices Market
6. Australia Diabetes Population
6.1 Type 1 Diabetes
6.2 Type 2 Diabetes
7. Market Share Analysis
7.1 By Types
7.2 By End User
8. Types
8.1 Self-Monitoring Devices
8.1.1 Test Strips
8.1.2 Lancets
8.1.3 Blood Glucose Meters
8.2 Continuous Glucose-Monitoring Devices
8.2.1 Sensors
8.2.2 Transmitter
8.2.3 Receiver
8.3 Insulin Pumps
8.3.1 Patch Pumps
8.3.2 Tethered Pumps
8.3.3 Consumables
8.4 Insulin Pens
8.4.1 Disposable Insulin Pen
8.4.2 Reusable Insulin Pen
9. End User
9.1 Hospitals
9.2 Diagnostics Centers
9.3 Homecare
10. Porters Five Forces
10.1 Bargaining Power of Buyer
10.2 Bargaining Power of Supplier
10.3 Threat of New Entrants
10.4 Rivalry among Existing Competitors
10.5 Threat of Substitute Products
11. SWOT Analysis
11.1 Strengths
11.2 Weaknesses
11.3 Opportunities
11.4 Threats
12. Reimbursement Policies
12.1 CGM Devices in Australia
12.2 Blood Glucose Devices in Australia
12.3 Insulin Pump Products in Australia
12.4 Insulin Pen in Australia
For more information about this report visit https://www.researchandmarkets.com/r/km5i3x
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- Australian Diabetes Market
