Market Size of Australia Diabetes Care Devices Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 704.12 Million |
| Market Size (2029) | USD 795.09 Million |
| CAGR (2024 - 2029) | 2.46 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Diabetes Care Devices Market Analysis
The Australia Diabetes Care Devices Market size is estimated at USD 704.12 million in 2024, and is expected to reach USD 795.09 million by 2029, growing at a CAGR of 2.46% during the forecast period (2024-2029).
According to Australian National Health Survey, one in twenty (5.3%) people had diabetes. Type 2 diabetes was the most common type of diabetes (85.5%), followed by Type 1 diabetes (11.0%) and type not known by the person reporting (4.1%). The main diagnosis for diabetes patients is imbalances in blood glucose levels, which are not in compliance with the standard blood glucose levels. The general lab diagnostic tests can only help to diagnose the disease by physicians. Patients with more fluctuations in glucose levels need to get it checked every day. Patients administering insulin need to check their blood glucose levels frequently, adjust the doses of insulin, or change the medication, if necessary.
The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure in developed countries are indications of the increasing usage of diabetic care products.
Moreover, the increasing adoption of insulin delivery devices and the rising prevalence of diabetes are driving the market growth. Leading manufacturers are focusing on technological innovations and the development of advanced products to gain a substantial share of the market.
The Australian National Diabetes Strategy is designed in response to diabetes and informs how existing limited healthcare resources can be better coordinated and targeted across all levels of Government. This Strategy identifies the most effective and appropriate interventions to reduce the diabetes impact in the community and leads the way internationally in diabetes prevention, management, and research.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
