Australia Insulin Infusion Pump Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 103.65 Million |
| Market Size (2029) | USD 129.70 Million |
| CAGR (2024 - 2029) | > 4.60 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Insulin Infusion Pump Market Analysis
The Australia Insulin Infusion Pump Market size is estimated at USD 99.09 million in 2023, and is expected to reach USD 124 million by 2028, growing at a CAGR of greater than 4.60% during the forecast period (2023-2028).
The insulin infusion pump market in Australia is poised for significant growth, driven by the rising diabetic population and an increasing number of regulatory approvals for insulin pumps.
The prevalence of diabetes is particularly among older people, who often experience multiple comorbidities, making insulin infusion pumps an attractive option for their long-term care. The Australian Bureau of Statistics data, updated as of December 2023, revealed a diabetes prevalence of 37.8% among men and 27.7% among women over 65. Given that diabetes is more prevalent in this age group, the demand for insulin infusion pumps, crucial for precise insulin dosing, is expected to increase.
Government initiatives to alleviate the financial burden on patients relying on insulin pumps are further propelling market growth. In July 2023, the Australian government, in collaboration with key health organizations like the Australian Diabetes Educators Association (ADEA) and the Australian Diabetes Society (ADS), unveiled the Diabetes Australia Group Strategic Plan 2023-2027. This joint effort underscores their commitment to improving the quality of life for individuals with diabetes.
The 2024-25 Union Budget of Australia allocated an additional AUD 3.7 million (USD 2.5 million) to expand the Insulin Pump Program. This move specifically targets financially disadvantaged Australians under 21 with type 1 diabetes, aiming to make insulin infusion pumps more accessible. By expanding the affordability, this initiative is expected to benefit the low to middle-income groups, boosting pump adoption rates and market growth.
The combination of a growing diabetic population, particularly among older people, and supportive government initiatives is set to drive the expansion of the insulin infusion pump market in Australia. These factors collectively enhance the accessibility and adoption of insulin pumps, which is expected to boost market growth in the coming years.
Australia Insulin Infusion Pump Market Trends
The Insulin Pump Segment is Expected to Witness Growth Over the Forecast Period
The insulin pump market is poised for significant growth, attributed to technological advancements and increasing adoption among individuals with type 1 diabetes (T1DM). This device simulates the human pancreas and administers insulin continuously or on demand, offering an alternative to daily injections or insulin pens.
Popular among those with T1DM, insulin pump therapy provides a time-tested solution, especially when the pancreas fails to produce insulin. Notably, pumps with remote controls empower parents to manage insulin dosages from a distance, ensuring seamless care even during playtime or meals.
Australia has a variety of insulin pumps to address the growing demand for insulin pumps. For instance, in April 2023, a report by Diabetes Australia suggested Accu-Chek Solo and Omnipod DASH Insulin Management System as tube-free insulin pumps. A key advantage is their versatile placement, as they can be worn on the arms, stomach, thighs, or buttocks, a departure from traditional tubing pumps.
Universities and hospitals actively participate in refining insulin delivery. For instance, in February 2022, a collaborative effort between the University of Melbourne, St. Vincent’s Hospital Melbourne, and Royal Melbourne Hospital conducted the 'ORACL' trial. This pioneering study focused on 'closed-loop' automated insulin delivery for older individuals with type 1 diabetes. The results were promising, showcasing superior glucose management with closed-loop therapy, dispelling any notion that age might hinder its efficacy.
The insulin pump market is anticipated to witness significant growth owing to technological advancements and increasing acceptance among T1DM patients. Continuous innovation and research will likely further enhance the efficacy and convenience of insulin pumps, solidifying their role in diabetes management.
The Prevalence of Diabetes is Rising in Australia
The rising prevalence of diabetes in Australia is set to drive the demand for insulin pumps over the forecast period. For instance, according to the International Diabetes Federation (IDF), the diabetic population is projected to grow from 1,693 thousand in 2030 to 1,935.2 thousand by 2045. Moreover, data from the Australian Bureau of Statistics, as of December 2023, revealed that 24% of people with diabetes used insulin daily in 2022.
With diabetes rates rising, regulatory bodies are increasing efforts to ensure easier access to insulin pumps. In 2023, the Department of Health and Aged Care initiated an open tender process to set up new insulin pump supply agreements, replacing the previous ones. In October 2023, the Department designated the mylife YpsoPump as the exclusive pump available through the Insulin Pump Program. The insulin infusion pump was included in the Prostheses List, mandating private health insurers to cover products listed on it.
Hence, the increasing prevalence of diabetes in Australia is significantly influencing the insulin infusion pump market. Regulatory measures and new supply arrangements are expected to boost the accessibility and adoption of these essential medical devices.
Australia Insulin Infusion Pump Industry Overview
The Australian insulin infusion pump market is consolidated, with major manufacturers holding a global market presence and the remaining manufacturers confined to other local or region-specific manufacturers. The competitive landscape includes examining a few well-known worldwide and local organizations, such as Medtronic, Insulet Corporation, Ypsomed, Ascensia Diabetes Care, and Tandem Diabetes Care.
Australia Insulin Infusion Pump Market Leaders
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Medtronics
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Ascensia Diabetes Care
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Insulet Corporation
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Tandem Diabetes Care
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Ypsomed
*Disclaimer: Major Players sorted in no particular order
Australia Insulin Infusion Pump Market News
- September 2023: Australia's Minister for Health and Aged Care, the Hon. Mark Butler MP, confirmed that Fiasp insulin will continue to be available under the Pharmaceutical Benefits Scheme (PBS) for diabetic individuals from October 2023.
- July 2023: Dexcom Inc. and its Australian subsidiary, Australasian Medical and Scientific Ltd (AMSL Diabetes), reported that the Department of Veterans Affairs (DVA) would fully fund diabetes products. These include the Dexcom Continuous Glucose Monitoring (CGM) and Tandem t:slim X2 Insulin Pump systems, available to qualifying DVA clients.
Australia Insulin Infusion Pump Market 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 Rising Diabetes Prevalence in Australia
4.2.2 Government Support Initiatives to Construct the Spread of Diabetes
4.3 Market Restraints
4.3.1 Limited Awareness About the Pump and Related-Technology
4.4 Porter's Five Forces Analysis
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
5. MARKET SEGMENTATION (Market Size By Values - USD)
5.1 By Component Type
5.1.1 Insulin Pump Device
5.1.2 Infusion Set
5.1.3 Reservoir
5.2 By End Users
5.2.1 Hospitals/Clinics
5.2.2 Home Care
5.2.3 Others
6. MARKET INDICATORS
6.1 Type-1 Diabetic Population (2021-2029)
6.2 Type-2 Diabetic Population (2021-2029)
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Medtronics
7.1.2 Ascensia Diabetes Care
7.1.3 Insulet Corporation
7.1.4 Tandem Diabetes Care
7.1.5 Ypsomed
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Australia Insulin Infusion Pump Industry Segmentation
An insulin pump is used to deliver insulin to achieve proper blood sugar control and minimize hypoglycemia's effects. The pump is composed of a pump reservoir like an insulin cartridge, a battery-operated pump, and a computer chip that allows the user to control the exact amount of insulin being delivered. The pump is attached to a thin plastic tube (an infusion set) with a soft cannula (or needle) at the end through which insulin passes.
The Australian insulin infusion pumps market is segmented by component. By component, the market is segmented into pump device, infusion set, and reservoir. The report offers the value (in USD) and volume (units) for all the above segments.
| By Component Type | |
| Insulin Pump Device | |
| Infusion Set | |
| Reservoir |
| By End Users | |
| Hospitals/Clinics | |
| Home Care | |
| Others |
Australia Insulin Infusion Pump Market Research FAQs
How big is the Australia Insulin Infusion Pump Market?
The Australia Insulin Infusion Pump Market size is expected to reach USD 103.65 million in 2024 and grow at a CAGR of greater than 4.60% to reach USD 129.70 million by 2029.
What is the current Australia Insulin Infusion Pump Market size?
In 2024, the Australia Insulin Infusion Pump Market size is expected to reach USD 103.65 million.
Who are the key players in Australia Insulin Infusion Pump Market?
Medtronics, Ascensia Diabetes Care, Insulet Corporation, Tandem Diabetes Care and Ypsomed are the major companies operating in the Australia Insulin Infusion Pump Market.
What years does this Australia Insulin Infusion Pump Market cover, and what was the market size in 2023?
In 2023, the Australia Insulin Infusion Pump Market size was estimated at USD 98.88 million. The report covers the Australia Insulin Infusion Pump Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Insulin Infusion Pump Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Insulin Infusion Pump Industry Report
Statistics for the 2024 Australia Insulin Infusion Pump market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Insulin Infusion Pump 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.
