Australia Continuous Glucose Monitoring Devices Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 141.96 Million |
| Market Size (2029) | USD 247.96 Million |
| CAGR (2024 - 2029) | 11.80 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Continuous Glucose Monitoring Devices Market Analysis
The Australia Continuous Glucose Monitoring Devices Market size is estimated at USD 141.96 million in 2024, and is expected to reach USD 247.96 million by 2029, growing at a CAGR of 11.80% during the forecast period (2024-2029).
The onset of the COVID–19 pandemic has significantly impacted the Australian health system, including mortality, hospitalizations, health services, disease management, and surveillance. Diabetes is one of many conditions correlated with greater health consequences throughout the COVID-19 pandemic, including increased risk of complication and mortality. Some studies have proposed a link between COVID-19, hyperglycemia, and new-onset diabetes.
The Australian government simplified the clinical eligibility criteria for the Continuous Glucose Monitoring (CGM) Initiative in March 2020, which allowed people with type 1 diabetes under the age of 21 and those over the age of 21 with valid concessional status to access fully subsidized CGM devices through the National Diabetes Services Scheme.
Continuous Glucose Monitoring is a device that reads the glucose level between the cells underneath the skin. The device consists of a sensor and a transmitter. The continuous glucose reading can be sent to a receiver, smartphone app, or insulin pump. According to the Australian Institute of Health and Welfare, Type 1 diabetes accounts for around 10–15% of people with diabetes. It is one of the most serious and common chronic diseases of childhood, with about half of the people with Type 1 diabetes developing the disease before age 18.
The growing demand for blood glucose monitoring devices and increasing support initiatives such as NDSS are expected to increase product penetration and drive the market studied during the forecast period.
Australia Continuous Glucose Monitoring Devices Market Trends
The Durables Segment is Expected to Witness the Highest Growth Rate Over the Forecast Period
A wireless receiver, insulin pump, compatible smartphone, or smart device receives glucose readings from the sensor coupled to the transmitter. Depending on the type, a transmitter must be replaced every three to twelve months. Transmitters cannot be used again.
The receiver shows glucose values. A standalone, compatible smartphone or other smart device can be the receiver. The receiver also stores data on glucose. For a review by the patient and their diabetes health provider, the patient can upload the glucose data. Making judgments regarding adjustments to their insulin dosages or insulin pump settings using this information will help. Australia has one of the highest incidence rates of Type 1 Diabetes in children, ranking 16th out of 123 countries globally for incidences of Type 1 Diabetes in children. All the initiatives from the Australian government encourage the Continuous Glucose Monitoring Durables market to increase in the forecast period.
Rising diabetes prevalence
According to Diabetes Australia, diabetes is the fastest-growing chronic condition in Australia, increasing faster than other chronic diseases such as heart disease and cancer.
Currently, almost 1.9 million Australians have diabetes, including all types of diagnosed diabetes (almost 1.5 million known and registered) and undiagnosed type 2 diabetes (up to 500,000 estimated). Around 1.2 million people are hospitalized with diabetes-related conditions every year. Aboriginal and Torres Strait Islander Australians are three times more likely to develop type 2 diabetes than non-indigenous Australians, 4.3 times more likely to be hospitalized with type 2 diabetes, and four times as likely to die from it.
Overall, with rising diabetes prevalence, access to CGM and Flash GM through the NDSS assists in the reduction of the number of severe hypoglycemic events, improvement of glucose management in people with poor glycemic awareness or suboptimal glycemic control (maintaining blood glucose levels in the target range reduces the risks of developing diabetes-related complications) thereby driving the market growth.
Australia Continuous Glucose Monitoring Devices Industry Overview
The Australian continuous glucose monitoring devices market is highly consolidated. The market leaders such as Dexcom, Abbott, and Medtronic focus on product launches and technological collaboration to increase their foothold in the market.
Australia Continuous Glucose Monitoring Devices Market Leaders
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Dexcom
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Medtronic
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Abbott
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Everesense
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Ascensia
*Disclaimer: Major Players sorted in no particular order
Australia Continuous Glucose Monitoring Devices Market News
- July 2023: Dexcom Inc. and its Australian subsidiary, Australasian Medical and Scientific Ltd (AMSL Diabetes), have announced that AMSL Diabetes has been approved by the Department of Veterans Affairs (DVA) to provide fully funded diabetes products, including Dexcom Continuous Glucose Monitoring and Tandem t: slim X2 Insulin Pump systems, to eligible DVA clients. This approval falls under the contract for mobility and functional support (MFS) and home modification products and services.
- July 2022: NDSS gave access to FreeStyle Libre 2, and Free Style Libre 2 has been subsidized for all Australians with type 1 diabetes.
Australia Continuous Glucose Monitoring DevicesMarket Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rapidly Increasing Incidence and Prevalence of Diabetes
4.2.2 Technological Advancements in the Market
4.3 Market Restraints
4.3.1 Monopolized Supply Chain and High Cost of Devices
4.4 Industry Attractiveness - Porter Five Forces
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
4.5 Analysis of CGM Device Distribution Channels
4.6 Analysis of CGM Device Prescribers
5. Market Segmentation
5.1 By Component
5.1.1 Sensors
5.1.2 Durables (Receivers and Transmitters)
5.2 By Provinces (Quantative Analysis)
5.2.1 New South Wales
5.2.2 Victoria
5.2.3 Queensland
5.2.4 South Australia
5.2.5 Western Australia
5.2.6 Other Provinces
6. MARKET INDICATORS
6.1 Type-1 and Type -2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Abbott Diabetes Care Inc.
7.1.2 Dexcom Inc.
7.1.3 Medtronic PLC
7.1.4 Eversense
7.1.5 Ascensia
- *List Not Exhaustive
7.2 Company Share Analysis
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Australia Continuous Glucose Monitoring Devices Industry Segmentation
Continuous glucose monitoring automatically monitors blood sugar levels throughout the day and at night. One can quickly determine their blood sugar level at any moment. They can examine their glucose variations over several hours or days to spot trends. They can manage their diet, exercise, and medications better throughout the day if they can see their glucose levels in real-time. The Australian continuous glucose monitoring devices market is segmented by individual components such as sensors and durables (receivers and transmitters) and by Provinces. The report offers the value (USD) and volume (units) for the above segments.
| By Component | |
| Sensors | |
| Durables (Receivers and Transmitters) |
| By Provinces (Quantative Analysis) | |
| New South Wales | |
| Victoria | |
| Queensland | |
| South Australia | |
| Western Australia | |
| Other Provinces |
Australia Continuous Glucose Monitoring DevicesMarket Research FAQs
How big is the Australia Continuous Glucose Monitoring Devices Market?
The Australia Continuous Glucose Monitoring Devices Market size is expected to reach USD 141.96 million in 2024 and grow at a CAGR of 11.80% to reach USD 247.96 million by 2029.
What is the current Australia Continuous Glucose Monitoring Devices Market size?
In 2024, the Australia Continuous Glucose Monitoring Devices Market size is expected to reach USD 141.96 million.
Who are the key players in Australia Continuous Glucose Monitoring Devices Market?
Dexcom, Medtronic, Abbott, Everesense and Ascensia are the major companies operating in the Australia Continuous Glucose Monitoring Devices Market.
What years does this Australia Continuous Glucose Monitoring Devices Market cover, and what was the market size in 2023?
In 2023, the Australia Continuous Glucose Monitoring Devices Market size was estimated at USD 125.21 million. The report covers the Australia Continuous Glucose Monitoring Devices Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Continuous Glucose Monitoring Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Continuous Glucose Monitoring DevicesIndustry Report
Statistics for the 2024 Australia Continuous Glucose Monitoring Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Continuous Glucose Monitoring Devices analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
