Market Size of Australia Blood Glucose Monitoring Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 8.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Blood Glucose Monitoring Market Analysis
Australia Blood Glucose Monitoring Market is expected to register a CAGR of more than 8% during the forecast period and revenue of USD 253 million in the current year.
Diabetes mellitus was one of the most important risk factors for severe COVID-19. This risk was thought to be impacted by various diabetes-related characteristics, including advanced age, hyperglycemia, and underlying diseases (hypertension, cardiovascular disease, chronic renal disease, and obesity). Diabetes was soon identified as a risk factor for poor outcomes during the COVID-19 pandemic, making diabetes management or prevention more critical than ever. Following a COVID-19 infection, multiple investigations revealed that the afflicted individuals had fewer insulin secretory granules in beta cells and decreased glucose-stimulated insulin production. Furthermore, during the pandemic, some individuals acquired insulin resistance and had high blood glucose levels, although having no prior history of diabetes.
Blood glucose monitoring examines trends in blood glucose variation in response to nutrition, exercise, medicines, and disease processes related with blood glucose changes, such as diabetes. Blood glucose levels that are unusually high or low might result in acute and/or chronic, life-threatening diseases. Diabetes management that improves patient outcomes necessitates a multidisciplinary approach. Appropriate and prompt blood glucose monitoring enables successful control of out-of-range blood glucose levels, hence reducing diabetic-related health consequences.
Diabetes is linked to a slew of health issues. When comparing the populations with and without diabetes, persons with diabetes have a higher probability of being hospitalized and, as a result, incur more healthcare costs than non-diabetics. Diabetes patients are more likely to have significant consequences. Australia is a developed country with superior healthcare services. Continuous glucose monitoring is being implemented more quickly in Australia than in other emerging nations. Furthermore, reimbursement and price regulations are heavily controlled, driving the market and increasing the rate of adoption of new and sophisticated technology.
Australia Blood Glucose Monitoring Industry Segmentation
Blood Glucose Monitoring Devices are used to diagnose both hyperglycemic and hypoglycemic conditions in diabetic patients. Australia Blood Glucose Monitoring Market is segmented into Type (Self-monitoring Blood Glucose Devices and Continuous Glucose Monitoring Devices), Component (Glucometer Devices, Test Strips, Lancets, Sensors, and Durables). The report offers the value (in USD million) and volume (in Units million) for the above segments.
| Self-Monitoring Blood Glucose Devices | |
| Glucometer | |
| Test Strips | |
| Lancets |
| Continuous Glucose Monitoring Devices | |
| Sensors | |
| Durables (Receivers and Transmitters) |
Australia Blood Glucose Monitoring Market Size Summary
The Australia Blood Glucose Monitoring Market is poised for significant growth, driven by the increasing prevalence of diabetes and the critical need for effective diabetes management. The market is characterized by a robust adoption of continuous glucose monitoring (CGM) systems, which offer real-time insights into blood glucose levels, thereby enhancing patient outcomes. The COVID-19 pandemic underscored the importance of diabetes management, as individuals with diabetes faced heightened risks, prompting a surge in demand for advanced monitoring solutions. Australia's developed healthcare infrastructure supports the rapid implementation of these technologies, with stringent reimbursement and pricing regulations facilitating the adoption of innovative devices. The market is moderately fragmented, with key players like Abbott and Medtronic leading the charge in research and development to drive technological advancements.
The demand for blood glucose monitoring devices is further fueled by the rising incidence of diabetes, particularly Type 2 diabetes, which constitutes a significant portion of the diabetic population in Australia. As awareness grows, there is an increasing acceptance of diabetes care devices, contributing to market expansion. Continuous advancements in sensor technology, including the exploration of optical sensing and alternative detection methods, are expected to enhance the accuracy and user-friendliness of CGM devices. The market landscape is marked by ongoing innovations, such as Roche's new point-of-care blood glucose monitor and LifeScan's Bluetooth-connected meter, which highlight the industry's commitment to improving diabetes management solutions. These developments are crucial in addressing the healthcare challenges posed by diabetes, ultimately aiming to reduce the community burden and improve the quality of life for affected individuals.
Australia Blood Glucose Monitoring Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Dynamics
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1.2.1 Market Drivers
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1.2.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products and Services
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1.3.5 Intensity of Competitive Rivalry
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2. Market Segmentation
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2.1 Self-Monitoring Blood Glucose Devices
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2.1.1 Glucometer
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2.1.2 Test Strips
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2.1.3 Lancets
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2.2 Continuous Glucose Monitoring Devices
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2.2.1 Sensors
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2.2.2 Durables (Receivers and Transmitters)
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Australia Blood Glucose Monitoring Market Size FAQs
What is the current Australia Blood Glucose Monitoring Market size?
The Australia Blood Glucose Monitoring Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in Australia Blood Glucose Monitoring Market?
Dexcom, Roche Diabetes Care, Abbott Diabetes Care, Ascensia Diabetes Care and Medtronics are the major companies operating in the Australia Blood Glucose Monitoring Market.
