Australia Insulin Infusion Pump Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.60 % |
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?
Australia Insulin Infusion Pump Market Analysis
Australia's Insulin Infusion Pumps Market is expected to register a CAGR of more than 4.6% and reach a value of about USD 124 million over the forecast period.
Diabetes was one of the leading risk factors for severe COVID-19. Various diabetes-related features, such as advanced age, hyperglycemia, and underlying conditions (hypertension, cardiovascular disease, chronic renal disease, and obesity), were hypothesized to influence this risk. Diabetes was quickly identified as a risk factor for poor outcomes during the COVID-19 pandemic, emphasizing the importance of diabetes care or prevention more than ever. Multiple studies found that those infected with COVID-19 had fewer insulin secretory granules in beta cells and had lower glucose-stimulated insulin output. Furthermore, despite having no history of diabetes, some people developed insulin resistance and had high blood glucose levels throughout the epidemic.
Diabetes has been related to a plethora of health problems. Acute and chronic, life-threatening disorders may develop from abnormally high or low blood glucose levels. A multidisciplinary approach to diabetes care is required to enhance patient outcomes. Appropriate and quick blood glucose monitoring allows for successful control of out-of-range blood glucose levels, resulting in a reduction in diabetic-related health effects. When comparing populations with and without diabetes, those with diabetes are more likely to be hospitalized and, as a result, have more significant healthcare expenditures than non-diabetics. Diabetes sufferers are more prone to suffer serious effects. Australia is a developed country with excellent healthcare. Insulin pump devices are being deployed faster in Australia than in other developing countries. Furthermore, reimbursement and pricing laws are strictly enforced, which drives the market and accelerates the adoption of new and advanced technologies.
Australia Insulin Infusion Pump Market Trends
Insulin Pump is Expected to Witness Growth Over the Forecast Period
An insulin pump is a device that delivers insulin on a continuous or as-needed basis. The pump is based on the human pancreas. The insulin infusion pump can be used in place of the traditional daily injection routine or an insulin pen. Insulin pump therapy is a popular insulin administration method for persons with type 1 diabetes (T1DM). Pumps are a well-known, time-tested therapy option for T1DM patients of all ages, delivering near-physiological insulin delivery when the pancreas fails to produce insulin. Pumps with remote controls allow parents to suspend or bolus insulin from a distance while their child is playing or eating.
In Australia, about 80% of all insulin pumps are delivered to persons with private health insurance, resulting in an unequal funding scheme. Insulin pumps are not inexpensive to Australians who do not have private insurance. Some persons with type 1 diabetes who have a documented clinical need are currently being denied insulin pump therapy under the government-funded Insulin Pump Programme. Funds are presently being devoted to continuing consumables, resulting in a reduction in the number of pumps delivered. There are currently various divisions between financing sources for insulin pump therapy, pump provision, the multidisciplinary clinical services necessary to begin pump therapy, and continuous evaluation. As a result of the absence of integration and coordination, various issues arise, and insulin pump therapy is frequently used.
The insulin infusion pump market is predicted to grow further as the obesity rate rises, inherited risks for type 2 diabetes rise, and the number of Type 1 diabetes patients rises.
Rising diabetes prevalence
Australia has one of the world's highest incidences of type 1 diabetes. In the last year, about 3021 new cases of type 1 diabetes have been reported (8 new cases every day). According to the most recent Australian data, one in every five persons with type 1 diabetes may be unaware of hypoglycemia and hence more vulnerable to dangerously low blood glucose levels. Insulin pumps, continuous glucose monitoring, and newer closed-loop devices may be able to aid in the prevention of hypoglycemia. Due to the expense and limited availability, only around 12% of Australians with type 1 diabetes have access to insulin pump therapy, compared to the estimated 25% in the United States. Even though type 1 diabetes affects fewer than 1% of the general population, complications account for 4% of all ambulatory care or hospital admissions and 5% of all hospital bed days, accounting for more than angina or asthma. For every 1% increase in HbA1c above 7%, the risk of serious problems rises by around 30%. Although intensive insulin treatment lowers the risk of long-term problems, it is linked with a threefold increase in severe hypoglycemia6. Thus, intense blood glucose regulation is required for long-term health but might be difficult to attain in normal practice.
The Australian Government has highlighted preventive health action through the National Preventive Health Strategy 2021-2030, which seeks to build a stronger and more effective preventative health system to improve Australians' health and well-being. The Australian Diabetes Society (ADS) is Australia's leading national medical and scientific organization for diabetes. Endocrinologists, scientists, researchers, diabetes educators, primary care practitioners, and allied health professionals are members of the ADS. The ADS mission is to prevent diabetes and its complications, to provide excellence in education for health professionals, to promote collaboration, research, and clinical guidelines and standards, to collaborate with unified partners such as Diabetes Australia and the Australian Diabetes Educators Association, who are committed to improving diabetes treatment and educate patients how to use an insulin pump device and other medical devices, to advocate for health policies related to diabetes and its prevention, and to support people with diabetes in living well.
Australia Insulin Infusion Pump Industry Overview
Due to the existence of only a few big businesses operating internationally and locally, the insulin infusion pump industry is concentrated. The competitive landscape includes examining a few well-known worldwide and local organizations, such as Medtronic PLC, Insulet Corporation, Ypsomed, Ascensia Diabetes Care, and Tandem Diabetes Care.
Australia Insulin Infusion Pump Market Leaders
Medtronics
Ascensia Diabetes Care
Insulet Corporation
Tandem Diabetes Care
Ypsomed
*Disclaimer: Major Players sorted in no particular order
Australia Insulin Infusion Pump Market News
- November 2022: The Albanese Government is subsidizing the next generation of Omnipod insulin pumps for the 130,000 Australians living with type 1 diabetes. The Government is subsidizing the disposable pods through the National Diabetes Services Scheme (NDSS) at community pharmacies. The Omnipod DASH Insulin Management system includes a waterproof adhesive pod that delivers insulin to the patient alongside a touchscreen device to program and control the pod.
- July 2022: The Albanese Government is delivering on its election commitment to give all 130,000 Australians with Type 1 diabetes access to subsidized CGM products under the National Diabetes Services Scheme (NDSS). This is an AUD 273.1 (USD 177.47) million investment over four years to support people living with Type 1 diabetes, which includes expanded access to the Insulin Pump Program.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Insulin Infusion Pump
5.1.1 Insulin Pump Device
5.1.2 Infusion Set
5.1.3 Reservoir
6. MARKET INDICATORS
6.1 Type-1 Diabetic Population
6.2 Type-2 Diabetic Population
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Medtronics
7.1.2 Ascensia Diabetes Care
7.1.3 Insulet Corporation
7.1.4 Tandem Diabetes Care
7.1.5 Ypsomed
- *List Not Exhaustive
7.2 COMPANY SHARE ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Australia Insulin Infusion Pump Industry Segmentation
An insulin pump is used to deliver insulin to achieve proper blood sugar control and minimize hypoglycemia's effects. The pump is composed of a pump reservoir like an insulin cartridge, a battery-operated pump, and a computer chip that allows the user to control the exact amount of insulin being delivered. The pump is attached to a thin plastic tube (an infusion set) with a soft cannula (or needle) at the end through which insulin passes. The Australia insulin infusion pumps market is segmented by component (pump device, infusion set, and reservoir). The report offers the value (in USD million) and Volume (in units Million) for the above segments.
| Insulin Infusion Pump | |
| Insulin Pump Device | |
| Infusion Set | |
| Reservoir |
Frequently Asked Questions
What is the current Australia Insulin Infusion Pump Market size?
The Australia Insulin Infusion Pump Market is projected to register a CAGR of greater than 4.60% during the forecast period (2024-2029)
Who are the key players in Australia Insulin Infusion Pump Market?
Medtronics, Ascensia Diabetes Care, Insulet Corporation, Tandem Diabetes Care and Ypsomed are the major companies operating in the Australia Insulin Infusion Pump Market.
What years does this Australia Insulin Infusion Pump Market cover?
The report covers the Australia Insulin Infusion Pump Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Insulin Infusion Pump Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Insulin Infusion Pump Industry Report
Statistics for the 2024 Australia Insulin Infusion Pump market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Insulin Infusion Pump analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
