Market Trends of Australia Continuous Glucose Monitoring Devices Industry
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.
