Australia Diabetes Devices Market Report 2022 to 2030

Australia Diabetes Devices Market Analysis

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Australian Diabetes Devices Market is expected to witness growth from $273 Mn in 2022 to $532 Mn in 2030 with a CAGR of 8.70% for the forecasted year 2022-30. In Australia, the market for diabetes devices is expanding as a result of the rise in the number of people with the condition and the demand for diabetes devices that can assist people in managing their condition. The market is segmented by type and by the end user. Some key players in this market include Fairmont Medical Products, Cook Medical Australia, Johnson & Johnson, Medtronic, Roche, Ascensia diabetes care, and Dexcom.

ID: IN10AUMD007 CATEGORY: Medical Devices GEOGRAPHY: Australia AUTHOR: Jigyasu Bhandari

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Australia Diabetes Devices Healthcare Market Executive Analysis

Australian Diabetes Devices Market is expected to witness growth from $273 Mn in 2022 to $532 Mn in 2030 with a CAGR of 8.70% for the forecasted year 2022-30. $105.8 billion, or 16.8% of all government spending in Australia, is anticipated for overall health spending in 2022–2023. The health sector contributes 10% of Australia's GDP or about $105 billion in the fiscal year 2022.

In Australia, type 2 diabetes, which impacts 1.2 million people or 4.9% of the population, is the disease. Diabetes is more common as people age, with a prevalence of 11.8% among Australians 65 and higher. Furthermore, 5.7% of males and 4.2% of females in Australia have diabetes, rendering men more likely than women to have the condition. Diabetes is becoming more prevalent in Australia. 4.9% of Australians now have diabetes, up from 4.4% in 2011–12 and 2017. By 2038, there will be 3.3 million diabetic Australians, and this trend is predicted to persist.

Diabetes devices are instruments used in medicine to assist people with diabetes in controlling their blood glucose levels. A small blood sample from a finger prick is used by blood glucose meters to detect the amount of glucose in the blood. People with diabetes can use this knowledge to make educated decisions about their diet, exercise routine, and medication. The body is injected with insulin using insulin pen devices. Because they are more discrete and simpler to use, they are frequently favored over conventional syringes. Through the use of a tiny sensor that is inserted under the skin, continuous glucose meters give users access to real-time glucose level information. In order to help people with diabetes more precisely control their blood glucose levels, they can be used in conjunction with insulin pumps or insulin injections. Diabetes devices can offer more precise data on blood glucose levels, which can assist diabetics in managing their condition more effectively. People with diabetes who use diabetes devices may feel more in charge of their disease and experience less stress when managing it. Diabetes devices can lower the risk of complications like nerve damage, kidney disease, and blindness by assisting people with diabetes control their blood glucose levels.

Australia Diabetes Devices Market Analysis

Market Dynamics

Market Growth Drivers

In Australia, the market for diabetes devices is expanding as a result of the rise in the number of people with the condition and the demand for diabetes devices that can assist people in managing their condition. The ageing populace in Australia is also driving demand for diabetes devices. Older adults are more likely to need diabetes devices like insulin pens and blood glucose meters because they are more likely to acquire diabetes and to have it in the first place. Demand for diabetes devices is being driven by a growing general consciousness of the significance of managing diabetes. People with diabetes are taking an active role in managing their disease and looking for diabetes devices that can support them in doing so. Australians are becoming more likely to have diabetes.

Market Restraints

Diabetes devices can be costly in Australia, and not everyone with the disease has access to private health insurance or the money to buy them there. The market size and desire for these devices in Australia may be constrained as a result. It can be technically difficult to use some diabetes devices, such as continuous glucose monitors, and they often demand a high level of user skill and instruction. Because of this, people with diabetes in Australia who are less technologically savvy or have less access to diabetes education may be less likely to embrace these devices.

Competitive Landscape

Key Players

Fairmont Medical Products (AU)
Cook Medical Australia (AU)
Johnson & Johnson
Medtronic
Roche
Dexcom
Ascensia Diabetes Care

Healthcare Policies and Regulatory Landscape

In Australia, the Therapeutic Goods Administration (TGA) is the regulatory authority in charge of ensuring the effectiveness and safety of medical equipment. Diabetes devices must be registered with the TGA prior to being advertised and distributed within the country. The National Diabetes Services Scheme (NDSS), a government-funded initiative, provides savings on diabetes management supplies like blood glucose meters, test strips, and insulin pumps. Assuring that individuals with diabetes have access to the resources and tools they need to manage their condition is made possible by this program. The Pharmaceutical Benefits Scheme is an additional government-funded initiative that assists qualified individuals in paying for prescription drugs. (PBS). Some diabetes medications, including insulin, are covered by the PBS, which can reduce the cost of treating diabetes. The Medicare Benefits Schedule (MBS) is a list of medical treatments and services that are covered by the Medicare program of the Australian government. The MBS covers some diabetes-related treatments, including diabetes education and podiatry.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Diabetes Devices Market Segmentation

By Type (Revenue, USD Billion):

The market is divided into blood glucose monitoring systems, insulin delivery systems, and mobile applications for managing diabetes within the type segment. Due to its convenience, ease of use, and usefulness in providing patients and healthcare professionals with real-time insights regarding diabetic conditions for integrated diabetes management, the segment for diabetes management mobile applications is anticipated to grow at the highest rate during the forecast period. Bare-metal Stents

Blood glucose monitoring systems
Self-monitoring blood glucose monitoring systems
Continuous glucose monitoring systems
Test strips/Test papers
Lancets/Lancing Devices
Insulin delivery Devices
Insulin pumps
Insulin pens
Insulin syringes and needles
Diabetes management mobile applications

By End User (Revenue, USD Billion):

The diabetes market is divided into hospitals & specialty clinics and self & home care, based on the end user.

Hospitals & Specialty Clinics
Self & Home Care

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.