Australia Diabetes Market Forecast Report by Type (Self-Monitoring Devices, Continuous Glucose-Monitoring Devices, Insulin Pumps, Insulin Pens), End User (Hospitals, Diagnostics Centers, Homecare) and Company Analysis 2024-2032

Growth Drivers for the Australia Diabetes Device Market

Rising Rate of Diabetes

Diabetes Australia reports that diabetes is the chronic condition with the fastest rate of growth in Australia, outpacing the growth of other chronic illnesses like cancer and heart disease.

There are currently approximately 1.9 million diabetics in Australia, comprising approximately 1.5 million known and registered cases of all types of diagnosed diabetes and an estimated 500,000 cases of type 2 diabetes that are not yet identified. Diabetes is becoming more common among children and teenagers. Type 1 diabetes affects almost all children and young adults with the disease. Furthermore, type 2 diabetes is striking youngsters at younger ages. Diabetes therapies and related technology, as well as access to care from a multidisciplinary pediatric diabetes team, are among the special needs of children and young adults with type 1 and type 2 diabetes.

The maintenance of blood glucose levels within a given target range is one of the primary goals of diabetes treatment. It can be accomplished by striking a balance between diet, exercise, way of life, and diabetes medications. Readings from blood glucose monitors give the information needed to choose the most effective diabetes care plan. A person's risk of acquiring diabetes-related problems, such as diabetic retinopathy, heart disease, renal disease, etc., can be decreased by maintaining blood glucose levels within a target range.

Introduction of New and Technically Advanced Products to Fuel the Market Growth for Diabetes Devices

One of the key elements propelling the market expansion in Australia is the introduction of new products in the diabetes treatment and monitoring systems category. An increase in the prevalence of diabetes, coupled with changes in sedentary lifestyles and urbanization. The market is growing due to advancements in technology for diabetes devices as well as a rise in the number of people with diabetes.

The primary driver of the market expansion is the increase in funding for diabetes care made by both public and private entities. The market is growing due to advancements in digital health technology and the availability of software applications for diabetes management. 

Additionally, the market is currently growing at an accelerated rate due to the rising demand for diabetes care devices. One of the main causes of diabetes in the general population is the growth in obesity. Men are more likely than women to be obese. Risk factors driving the market expansion include a rise in obesity incidence that is directly linked to an increase in diabetes prevalence.

Australia Diabetes Devices Company Analysis

The major participants in the Australia Diabetes Device market includes Novo Nordisk A/S, Eli Lilly, Roche, Abbott Laboratories, Insulet Corporation, Dexcom Inc, Medtronic, Ypsomed AG.

Australia Diabetes Devices Company News

In November 2023, The Australian government has authorized multiple healthcare providers, such as General Practitioners (GPs), diabetes educators, diabetic clinics, Registered Nurses (RNs), and specialists, to write prescriptions for continuous glucose monitoring (CGM) devices.

In November 2022, The Tempo Personalized Diabetes Management Platform, Eli Lilly and Company's first linked platform, was set to launch. With the use of data-backed insights, the system attempts to support doctors and people with type 1 or type 2 diabetes in managing treatment with Lilly insulins. The Tempo Smart Button, the connected app TempoSmart, and the prefilled insulin pen Tempo Pen make up the three main parts of the platform. Together, they provide persons with diabetes with tailored advice.

Type- Industry is divided into 4 viewpoints:

1. Self-Monitoring Devices
2. Continuous Glucose-Monitoring Devices
3. Insulin Pumps
4. Insulin Pens

End User - Industry is divided into 3 viewpoints:

1. Hospitals
2. Diagnostics Centers
3. Homecare

All companies have been covered with 5 Viewpoints

1. Overviews
2. Key Person
3. Recent Developments & Strategies
4. Product Portfolio & Product Launch in Last 1 Year
5. Revenue

Company Analysis

1. Novo Nordisk A/S
2. Eli Lilly
3. Roche
4. Abbott Laboratories
5. Insulet Corporation
6. Dexcom Inc
7. Medtronic
8. Ypsomed AG

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