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.