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The Australia Diabetes Care Devices Market is expected to reach more than USD 0.7 billion by 2026, at a CAGR greater than 4%. Monitoring devices are anticipated to dominate the market during the forecast period, owing to the rising prevalence of diabetes and an increase in the number of device users in Australia. There has been a significant rise in insulin delivery systems technology, from insulin injections to insulin pumps. Technological innovations and advances give many conveniences in measuring blood glucose levels.
Scope of the Report
The Market is segmented by Management Devices (Insulin Pumps, Insulin Syringes, Insulin Disposable Pens, Insulin Cartridges in Reusable Pens, Insulin Jet Injectors) and Monitoring Devices (Self-monitoring Blood Glucose (Hospital and Personal use) and Continuous Glucose Monitoring).
|Monitoring Devices (Value and Volume, 2016 - 2026)|
|Management Devices (Value and Volume, 2016 - 2026)|
Key Market Trends
Increasing Diabetes Population at high rate
The prevalence of diabetes in Australia has more than tripled between 1989-2019. In 2020, Australia had about 1.4 million diabetic patients. In 2020, Type-1 diabetes patients accounted for 8.7% of the total diabetic population in Australia. Due to the early age and longer diabetes duration, the youth is at risk of developing diabetes at a younger age, which lessens their quality of life, shortens life expectancy, and increases healthcare costs of the society. Hence, the demand for oral anti-diabetes drugs market has been on the rise, and its adoption rate is seen increasing, which has been driving the market. Also, with the increasing awareness among Type-2 diabetes patients worldwide, the demand for the Diabetes Devices market has been rising at a rapid pace.
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Sensors Occupy the Highest Share in the Australia Continuous Glucose Monitoring Devices Segment
In the Australian CGM market, sensors are having the highest share. Since, 2016 Federal Election, the government has worked to subsidize continuous glucose monitoring (CGM) technology for patients with Type-1 diabetes. The Australian government now provides access to subsidized continuous glucose monitoring (CGM) products through the National Diabetes Services Scheme (NDSS). The different CGM systems available in Australia include Dexcom G5, MiniMed 640G, Medtronic 670G, and Guardian Connect CGM. The innovations in the Sensors market are driving the growth of the segment in the forecast period. Some of the innovations are Eversense CGM System, an implantable glucose sensor by Senseonics, Incorporated was launched in 2018. The advantage of the Eversense CGM System is that it can remain in place for up to three months, where the other CGMs sensors remain in place up to 3-10 days.
There have been constant innovations driven by manufacturers to compete in the market. The major players, such as Abbott and Medtronic, have undergone many mergers, acquisitions, and partnerships, to establish market dominance, while also adhering to organic growth strategies, which is evident from the R&D spending of these companies. The manufacturers of insulin delivery devices are spending a massive amount on the R&D of the devices. For example, in Feb 2020, Abbott and Insulet partnered to integrate Abbott's glucose-sensing technology with Insulet's tubeless system, the Omnipod Horizon Automated Insulin Delivery (AID) System (Omnipod Horizon System), to offer personalized automated insulin delivery and care for people living with diabetes.
In July 2020, Lantus Solostar pen and Lantus insulin glargine 100 IU/mL products were removed from the Australian market.
In Feb 2020, the Australian government initiated USD 300 million Continuous Glucose Monitoring (CGM) (FreeStyle Libre flash glucose monitoring system) free access to eligible type-1 diabetes patients.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
4.1 Market Overview
4.2 Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Monitoring Devices (Value and Volume, 2016 - 2026)
5.1.1 Self-monitoring Blood Glucose Devices (Hospital Use and Home Use)
220.127.116.11 Glucometer Devices (Hospital and Home Use)
18.104.22.168 Blood Glucose Test Strips (Hospital and Home Use)
22.214.171.124 Lancets (Hospital and Home Use)
5.1.2 Continuous Glucose Monitoring Devices
126.96.36.199 Durables (Receivers and Transmitters)
5.2 Management Devices (Value and Volume, 2016 - 2026)
5.2.1 Insulin Delivery Devices
188.8.131.52 Insulin Pump Device
184.108.40.206.1 Insulin Pump Monitor
220.127.116.11.2 Insulin Pump Reserviour
18.104.22.168.3 Insulin Ifusion Sets
22.214.171.124 Insulin Syringes
126.96.36.199 Insulin Disposable Pens
188.8.131.52 Insulin Cartridges in Reusable Pens
184.108.40.206 Jet Injectors
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population (2016 - 2026)
6.2 Type-2 Diabetes Population (2016 - 2026)
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Novo Nordisk A/S
7.1.2 Sanofi Aventis
7.1.3 Eli Lilly
7.1.4 F. Hoffmann-La Roche Ltd
7.1.5 Abbott Diabetes Care
7.1.6 Johnson and Johnson (Lifescan)
7.1.8 Ascensia Diabetes Care
7.1.9 AgaMatrix Inc.
7.1.12 Ypsomed Holding AG
7.2 COMPETITIVE LANDSCAPE
7.2.1 Novo Nordisk A/S
7.2.2 Sanofi Aventis
7.2.3 Eli Lilly
7.2.4 F. Hoffmann-La Roche Ltd
7.2.5 Abbott Diabetes Care
7.2.6 Johnson and Johnson (Lifescan)
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Australia Diabetes Care Devices Market market is studied from 2016 - 2026.
What is the growth rate of Australia Diabetes Care Devices Market?
The Australia Diabetes Care Devices Market is growing at a CAGR of >4% over the next 5 years.
What is Australia Diabetes Care Devices Market size in 2016?
The Australia Diabetes Care Devices Market is valued at 627 Million USD in 2016.
What is Australia Diabetes Care Devices Market size in 2026?
The Australia Diabetes Care Devices Market is valued at 765 Million USD in 2026.
Who are the key players in Australia Diabetes Care Devices Market?
Abbott Diabetes Care, F. Hoffmann-La Roche AG, Novo Nordisk A/S, Medtronic plc, DexCom, Inc. are the major companies operating in Australia Diabetes Care Devices Market.