Australian Diabetes Therapeutics Market Size, Share, Price, Trends, Growth, Analysis, Outlook, Report, Forecast 2023-2028

Report Overview

The Australian Diabetics Therapeutics market size stood at around USD 1.38 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

Australia ranked seventh in the world for the prevalence of type 1 diabetes in children and 6th highest for incidence. There is also the rising prevalence of particularly type 2 diabetes and rising cases of children and adolescents who are now impacted by type 2 diabetes in Australia. Type 1 diabetes typically happens at an early age, it is the most common form of childhood diabetes although it can occur at any age. The prevalence of diabetes in Australia has skyrocketed three times to 4.2% over the last 25 years. Around 1 million people in the country suffer from diabetes and around 2 million have pre-diabetes. Of these, 11% have type 1 diabetes, 87% have type 2 diabetes, and 2% of women have gestational diabetes. It is estimated that approximately 3.4 million citizens will suffer from diabetes in the forecasted period.

Market Drivers

The growth is driven by the high prevalence of diabetes, acceptance, and proliferation of advanced patient compliant technologies increased reimbursement of devices and government subsidy on consumables. The market of Self-Monitoring Blood Glucose Device, Continuous Glucose Monitoring (CGM) Device, Insulin Pump, and Insulin Pen are growing due to the rising awareness for diabetes in Australia. Diabetes care in Australia has reached a high level of quality, but there is still an opportunity for further improvement. Diabetes is associated with an uncountable of complications that affect the eyes, feet, kidneys, and cardiovascular health. Besides, diabetes is ranked in the top 10 leading causes of death in Australia. Diabetes is a massive challenge to the nation's health and economy.

Australian Government has essential roles in maintaining access to affordable, high-quality devices and services to support people with diabetes in self-management and treatment. The Australian Government providing support to people with diabetes through the National Diabetes Services Scheme, the Pharmaceutical Benefits Scheme, the Insulin Pump Program, and Medicare.

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Major Players

The diabetes drug market is moderately competitive and consists of several major players. A few of the key players covered in the Australian Diabetes Therapeutics market are F. Hoffmann-La Roche AG (ROG: SIX), Life Scan, Inc., a Johnson & Johnson Company (NYSE: JNJ) and Abbott Laboratories (NYSE: ABT) enjoy a major share of the market. Other players include Animas Corporation (Nasdaq: PUMP), ARKRAY, Inc., Bayer HealthCare AG (BAYN: DE), Becton, Dickinson, and Company (NYSE: BDX), Eli Lilly and Company (NYSE: LLY), Medtronic, Inc. (NYSE: MDT), Novo Nordisk A/S (Copenhagen: NOVOb.CO - Reuters; NYSE: NVO), Sanofi S.A. (SAN: EN; NYSE: SNY), Smiths Medical, a division of Smiths Group Plc (LSE: SMIN) and Terumo Corporation.

The Australian Diabetes Therapeutics Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global Australian Diabetes Therapeutics market. This report explores all the key factors affecting the growth of the global Australian Diabetes Therapeutics market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Market Segmentation

By Drug Class:

The diabetes care drugs market is segmented by drugs into insulin (basal or long-acting, bolus or fast-acting, traditional human insulin drugs, and insulin biosimilars), oral anti-diabetic drugs (alpha-glucosidase inhibitors, DPP-4 inhibitors, and SGLT-2 inhibitors), non-insulin injectable drugs (GLP-1 receptor agonists, and Amylin Analogue), and combination drugs (combination insulin, oral combination). People with type 1 diabetes produce little or no insulin, so need lifelong insulin replacement. Some people with type 2 diabetes, and some women with gestational diabetes (diabetes during pregnancy), also need to use insulin. Most people with type 2 diabetes start treatment with metformin, a drug that reduces the amount of glucose released into your blood, and increases the amount taken up by your cells.

By Device:

The diabetes care devices (or) equipment consists of sales of diabetes care devices and related services by entities (organizations, sole traders, and partnerships) that produce diabetes care devices used to monitor blood glucose levels in diabetic patients. This industry includes establishments that produce blood glucose test strips used to check blood glucose levels, Insulin Pens, Syringes, Pumps and Injectors used to inject insulin, continuous glucose monitoring devices, blood glucose meters, and others.

By Route of administration:

Based on the route of administration, the diabetes drug market can be segmented into oral, subcutaneous, and intravenous. The hypertension segment is anticipated to grow due to the increasing prevalence of diabetes and many patients in the Australian demography.

Major Players

The diabetes drug market is moderately competitive and consists of several major players. A few of the key players covered in the Australian Diabetes Therapeutics market are F. Hoffmann-La Roche AG (ROG: SIX), Life Scan, Inc., a Johnson & Johnson Company (NYSE: JNJ) and Abbott Laboratories (NYSE: ABT) enjoy a major share of the market. Other players include Animas Corporation (Nasdaq: PUMP), ARKRAY, Inc., Bayer HealthCare AG (BAYN: DE), Becton, Dickinson, and Company (NYSE: BDX), Eli Lilly and Company (NYSE: LLY), Medtronic, Inc. (NYSE: MDT), Novo Nordisk A/S (Copenhagen: NOVOb.CO - Reuters; NYSE: NVO), Sanofi S.A. (SAN: EN; NYSE: SNY), Smiths Medical, a division of Smiths Group Plc (LSE: SMIN) and Terumo Corporation.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global Australian Diabetes Therapeutics Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global Australian Diabetes Therapeutics Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Australian Diabetes Therapeutics market
Chapter 2: Exclusive Summary - the basic information of the Australian Diabetes Therapeutics Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Australian Diabetes Therapeutics
Chapter 4: Presenting the Australian Diabetes Therapeutics Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the Australian Diabetes Therapeutics market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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