Australia Diabetes Drugs Market Analysis Report 2022 to 2030

Australia Diabetes Drugs Market Analysis

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The Australia diabetes drugs market size was valued at $0.74 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 7.6% from 2022 to 2030 and will reach $1.33 Bn in 2030. The market is segmented by drug type, application, and distribution channel. The Australia diabetes drug market will grow because of the high prevalence of diabetes in the country, which creates a significant demand for medications to manage the disease. The key market players are CSL Limited, AstraZeneca, Novo Nordisk, Sanofi, and others.

ID: IN10AUPH009 CATEGORY: Pharmaceuticals GEOGRAPHY: Australia AUTHOR: Chandani Patel

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Australia Diabetes Drugs Market Executive Summary

The Australia diabetes drugs market size was valued at $0.74 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 7.6% from 2022 to 2030 and will reach $1.33 Bn in 2030. As of 2021, Australia's GDP (Gross Domestic Product) was approximately US$1.4 trillion, making it the 13th largest economy in the world. The country has a highly developed market economy with a strong focus on services and industries such as mining, agriculture, and finance. Australia also has a strong healthcare system and invests a significant amount of its GDP in healthcare. In 2019-2020, total healthcare expenditure in Australia was $142 Bn. This represents around 10% of the country's GDP, which is similar to other high-income countries. The majority of healthcare expenditure in Australia is funded by the government, with the remaining costs being covered by private health insurance and out-of-pocket expenses by individuals. The government provides funding for a range of healthcare services, including hospital care, primary care, and pharmaceuticals.

The prevalence of diabetes in Australia is relatively high, with approximately 1.7 Mn people living with the disease in 2021. This represents around 7.3% of the population. The majority of these cases are type 2 diabetes, which is often linked to lifestyle factors such as obesity, physical inactivity, and poor diet.

The impact of diabetes on the drugs market in Australia is significant, as there is a high demand for medications to manage the disease. The market for diabetes drugs in Australia is large and growing, with a range of treatments available including oral medications, injectable medications, and insulin products. One factor driving growth in the diabetes drugs market in Australia is the aging population, as older adults are at increased risk for developing diabetes. In addition, rising rates of obesity and other lifestyle-related risk factors are contributing to an increase in the number of people living with diabetes in the country.

As the prevalence of diabetes in Australia is a significant public health concern, the demand for diabetes drugs has created opportunities for pharmaceutical companies and healthcare providers. However, it will be important to address issues related to cost and access to ensure that all patients can access the treatments they need to manage their diabetes effectively.

australia diabetes drugs market

Market Dynamics

Market Growth Drivers Analysis

The diabetes drugs market in Australia is driven by a combination of factors. One of the primary drivers is the high prevalence of diabetes in the country, which creates a significant demand for medications to manage the disease. According to the Australian Institute of Health and Welfare, approximately 1.7 million Australians were living with diabetes in 2021. This represents around 7.3% of the population, and the majority of cases are type 2 diabetes. The aging population and rising rates of obesity and other lifestyle-related risk factors are contributing to the growing number of people living with diabetes in the country, which is expected to drive continued growth in the market for diabetes drugs.

Moreover, in Australia is the availability of innovative treatments. Pharmaceutical companies are investing in research and development to create new and more effective treatments for diabetes. In recent years, there have been a number of new medications approved for use in Australia, including oral medications, injectable medications, and insulin products. These new treatments provide patients with more options for managing their diabetes, which can help to improve outcomes and quality of life.

Market Restraints

In Australia, one key market barrier is the high cost of these medications, which can be a barrier for some patients who may struggle to afford them. The government and private health insurance providers in Australia provide some coverage for diabetes medications, but many patients still face out-of-pocket costs for their treatments. This can create disparities in access to care and may contribute to poor outcomes for some patients.

Furthermore, in Australia is the ongoing debate over the pricing and reimbursement of these medications. Pharmaceutical companies are seeking to recoup their investments in research and development by setting high prices for their drugs, but some stakeholders argue that these prices are too high and may be unsustainable in the long term. There have been ongoing discussions in Australia about the need for greater transparency and accountability in drug pricing and reimbursement to ensure that patients have access to the treatments they need at an affordable cost.

Competitive Landscape

Key Players

CSL Limited
AstraZeneca
Novo Nordisk
Sanofi
Johnson & Johnson
Abott
Bayer Pharmaceuticals
Merck
Eli Lilly and Company
Boehringer Ingelheim
Novartis
GlaxoSmithKline

Notable deals

December 2021: CSL Behring announced a strategic partnership with uniQure to develop gene therapies for patients with hemophilia B. While not specifically related to diabetes drugs, this deal highlights the ongoing interest and investment in gene therapies, which could have implications for the development of diabetes treatments in the future.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

In Australia, the regulation and reimbursement of diabetes drugs and treatments are overseen by the Therapeutic Goods Administration (TGA) and the Pharmaceutical Benefits Scheme (PBS), respectively.

The TGA is responsible for evaluating and approving new diabetes drugs and treatments for safety, quality, and efficacy. Before a drug can be marketed and sold in Australia, it must go through a rigorous regulatory process that includes clinical trials and scientific evaluation. Once a diabetes drug is approved by the TGA, it may be listed on the PBS for reimbursement. The PBS is a government-funded program that subsidizes the cost of prescription drugs for eligible Australian residents. To be listed on the PBS, a drug must meet certain criteria, including cost-effectiveness and clinical effectiveness.

There are several types of diabetes drugs that are available in Australia, including insulin, oral medications, and injectable medications. The cost of these drugs can vary depending on the type of medication, the dosage, and the frequency of use. However, most diabetes medications are subsidized by the PBS, which means that eligible patients pay a reduced amount for their prescriptions. In addition to medications, there are also other diabetes treatments that may be covered by the PBS, such as blood glucose monitoring devices, insulin pumps, and continuous glucose monitoring systems.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 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 Drugs Market Segmentation

By Drug Type (Revenue, USD Bn):

The drug types considered, in this report include Injectable Drugs and Oral Drugs. Injectable drugs are further classified into insulin-based and non-insulin-based injectables. Oral drugs are further classified into various classes as per their mechanism of action as mentioned below :

Injectable Drugs
- Insulin Based Injectables
- Non-insulin Based Injectables
  - Exenatide (Byetta)
  - Dulaglutide (Trulicity)
  - Semaglutide (Ozempic, Wegovy)
  - Liraglutide (`Saxenda, Victoza)
  - Lixisenatide (Adlyxin)
  - Pramlintide (Symlin)
  - Tirzepatide (Mounjaro)
  - Albiglutide (Tanzeum)
Oral Drugs
- Biguanides - Metformin (Glucophage and Glucophase XR)
- Sulfonylureas - Glimepiride (Amaryl), Glyburide (DiaBeta), Glipizide (Glucotrol), Gliclazide (Diamicron), Chlorpropamide (Diabinese)
- Meglitinides and D-Phenylalanine Derivatives - Repaglinide (Prandin), Nateglinide (Starlix)
- Thiazolidinediones (TZDs) - Rosiglitazone (Avandia), Pioglitazone (Actos)
- Dipeptidyl peptidase-IV (DPP-4) inhibitors - Sitagliptin (Januvia), Saxagliptin (Onglyza), Linagliptin (Tradjenta), and Alogliptin (Nesina and Vipidia), Teneligliptin (Tenelia), Vildagliptin (Galvus)
- Alpha-glucosidase Inhibitors - Acarbose (Precose), Miglitol (Glyset), Voglibose (Voglib)
- Sodium-glucose co-transporter-2 (SGLT2) inhibitors - Canagliflozin (Invokana), Dapagliflozin (Farxiga), Empagliflozin (Jardiance), Ertugliflozin (Stelgatro)
- Dopamine D2 agonist – Bromocriptine (Parlodel and Cycloset)
- Glucagon like peptide 1 (GLP-1) receptor agonists - Semaglutide (Rybelsus)
- Bile Acid Sequestrants (BASs) - Colesevelam (Welchol)
- Others (Fixed Dose Combination Drugs)

By Application (Revenue, USD Bn):

Based on application, the market is segmented into Type 1 and Type 2. The 2 types of diabetes drugs are segmented and dominate the market. The Type 2 diabetes segment accounts for the largest sales of the worldwide market a few different kinds. The excessive prevalence of type 2 because of sedentary lifestyles and obesity in all age groups is attributed to the current situation. Around 10% of all diabetes cases are type 1, and approximately 90% of all cases of diabetes in UK are type 2. Hence, it is estimated to the diabetes drugs market will grow across the globe during the forecast period.

Type 1 diabetes (due to β-cell destruction, usually leading to absolute insulin deficiency)
Type 2 diabetes (due to a progressive insulin secretory defect on the background of insulin resistance)
Other diabetes types

By Distribution Channel (Revenue, USD Bn):

Based on distribution channels, the market is classified into hospital pharmacies, rental pharmacies, and online pharmacies. The hospital pharmacies captured the highest market share, owing to the availability of trained & qualified personnel and favorable reimbursement structure. Online pharmacies are estimated to register the highest CAGR in the forecast period, it is attributed to the technological adaptation and acceptance of online pharmacies. Retail pharmacies showed a moderate market share improvement in the healthcare facilities in developing countries is anticipated to propel the popularity of retail pharmacies during the forecast period.

Hospital Pharmacy
Retail Pharmacy
Online Pharmacy

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.

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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.