Australia Diabetes Market is expected to reach USD 2.44 Billion by the year 2025
01 Apr, 2021

According to the latest report by Renub Research, titled "Australia Diabetes Market, By SMBG Device, Continuous Glucose Monitoring (CGM), Insulin Pen, Insulin Pump, Reimbursement Company Analysis & Forecast" Insulin delivery system technology has improved dramatically, from insulin injections to insulin pumps. Measurement of blood glucose levels has become much simpler, thanks to technical developments. The demand for Self Monitoring Blood Glucose Products, Continuous Glucose Monitoring (CGM) Devices, Insulin Pumps, and Insulin Pens is growing. In Australia, diabetes treatment has achieved a high degree of quality, but there is still scope for growth. Diabetes is related to complications, including issues with the kidneys, eyes, feet, and heart. Furthermore, diabetes is one of Australia's top ten leading causes of death. As per Renub Research analysis, Diabetes Market in Australia is expected to reach USD 2.44 Billion by 2025. With the increasing prevalence of diabetes and an increase in the number of device users in Australia, monitoring devices are expected to dominate the market during the forecast period.

Diabetes Prevalence in Australia

Type 1 diabetes prevalence in children in Australia was ranked 7th in the world, and the incidence was ranked sixth. In Australia, the prevalence of diabetes, primarily Type 2 diabetes, is growing, as is the number of children and adolescents affected by the disease. Type 1 diabetes affects children at a young age and is the most common form of childhood diabetes, but it can affect anyone at any age. Diabetes has been diagnosed in over 1 million Australians. Australia lags behind many Western countries in offering reliable access to modern, validated technologies such as continuous glucose monitoring (CGM) and insulin pen, which can dramatically enhance diabetes management.

Initiatives by the Australian Government

The government plays a significant role in assuring that people with diabetes have access to affordable, high-quality equipment and services to help in self-management and care. The National Diabetes Services Plan, the Prescription Benefits Scheme, the Insulin Pump Program, and Medicare are all initiatives administered by the Australian government to assist people with diabetes. Semglee, the first insulin PBS in Australia, was introduced in 2019 by Biocon and Mylan N V. It is biosimilar to insulin glargine. TAL, a leading Australian life insurance specialist, has launched a specialized policy in Australia to protect people with diabetes mellitus.

Market Summary:

By SMBG Market: This research report covers the market of Test Strips, Lancet, Meter, Blood Glucose Device Users & Reimbursement.

By CGM Market: The market of Components, Glucose Sensor, Transmitter, CGM User, and Reimbursement are covered in this research report.

By Insulin Pump: This research report covers the Users, Market & Differentiation Points of Insulin Pump Products, Training Model for Patients & HCP, Reimbursement Policies in this report.

By Insulin Pen: The User, Types – Insulin Pen Needle Market, Disposable, Reusable and Smart Insulin Pen, Reimbursement Policies are covered in this research report.

By Company Analysis: Company Overview, Products/Initiatives and Financial Insight of (B. Braun Melsungen AG, Artsana S.p.A, Medtronic, Owen Mumford Ltd, Roche, Eli Lilly and Company, Ypsomed AG, BD, Novo Nordisk A/S, Insulet Corporation, LifeScan Inc., Dexcom Inc, & Abbott Laboratories) are given in this research report.