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Australia Continuous Glucose Monitoring Devices Market Size (2024 - 2029)

The Australia Continuous Glucose Monitoring Devices Market is projected to experience significant growth over the forecast period, driven by increased demand for blood glucose monitoring devices and supportive government initiatives. The simplification of eligibility criteria for subsidized access to these devices has further facilitated market expansion. The impact of the COVID-19 pandemic on health systems and the correlation between diabetes and pandemic-related health challenges have also contributed to the rising need for continuous glucose monitoring solutions.

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Market Size of Australia Continuous Glucose Monitoring Devices Industry

Australia Continuous Glucose Monitoring Devices Market Summary
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

Australia Continuous Glucose Monitoring Devices Market 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 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
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Australia Continuous Glucose Monitoring Devices Market Size Summary

The Australian continuous glucose monitoring devices market is poised for significant growth, driven by increasing diabetes prevalence and supportive government initiatives. The market is characterized by the availability of advanced devices that provide real-time glucose readings through sensors and transmitters, which can be accessed via receivers, smartphone apps, or insulin pumps. The Australian government's efforts, such as simplifying eligibility criteria for the Continuous Glucose Monitoring Initiative, have facilitated broader access to these devices, particularly for individuals with type 1 diabetes. This initiative, along with the National Diabetes Services Scheme, aims to enhance the management of diabetes and reduce complications by improving glucose monitoring and control. The market is further bolstered by the high incidence of type 1 diabetes in Australia, especially among children, and the growing demand for effective blood glucose monitoring solutions.

The market landscape is highly consolidated, with key players like Dexcom, Abbott, and Medtronic leading the charge through product innovations and strategic collaborations. These companies are actively expanding their market presence by launching new products and securing partnerships, such as Dexcom's recent approval to provide fully funded diabetes products to eligible clients through the Department of Veterans Affairs. The continuous glucose monitoring devices market is expected to experience robust growth, supported by the increasing number of Australians diagnosed with diabetes and the ongoing efforts to improve diabetes care and management. As the fastest-growing chronic condition in Australia, diabetes management through advanced monitoring devices is becoming increasingly critical, driving the market's expansion during the forecast period.

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Australia Continuous Glucose Monitoring Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rapidly Increasing Incidence and Prevalence of Diabetes

      2. 1.2.2 Technological Advancements in the Market

    3. 1.3 Market Restraints

      1. 1.3.1 Monopolized Supply Chain and High Cost of Devices

    4. 1.4 Industry Attractiveness - Porter Five Forces

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Analysis of CGM Device Distribution Channels

    6. 1.6 Analysis of CGM Device Prescribers

  2. 2. Market Segmentation

    1. 2.1 By Component

      1. 2.1.1 Sensors

      2. 2.1.2 Durables (Receivers and Transmitters)

    2. 2.2 By Provinces (Quantative Analysis)

      1. 2.2.1 New South Wales

      2. 2.2.2 Victoria

      3. 2.2.3 Queensland

      4. 2.2.4 South Australia

      5. 2.2.5 Western Australia

      6. 2.2.6 Other Provinces

Australia Continuous Glucose Monitoring Devices Market Size FAQs

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.

In 2024, the Australia Continuous Glucose Monitoring Devices Market size is expected to reach USD 141.96 million.

Australia Continuous Glucose Monitoring Devices Market Report Snapshots

Australia Continuous Glucose Monitoring Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)