Research and Markets, a leading market research company, has released a report on the Australia Diabetes Market projecting it to reach $5.96 billion by 2028, with a CAGR of 7.14% from 2022 to 2028. The report examines the market in terms of Self-Monitoring Blood Glucose Devices, Continuous Glucose Monitoring (CGM) Devices, Insulin Pens, and Insulin Pumps. It also includes an analysis of key players in the market, such as Novo Nordisk, Abbott Laboratories, and Medtronic.
The report notes that the prevalence of diabetes in Australia is on the rise, with almost 1.9 million Australians currently living with the disease. Type 2 diabetes is increasing at the fastest rate, with an estimated 2 million Australians at high risk of developing the condition. The growing adoption of insulin-delivery devices, particularly insulin pens, is driving market growth. The report also highlights the Australian government's initiatives, such as the National Diabetes Services Plan and the Insulin Pump Program, to assist people with diabetes in accessing affordable, high-quality equipment and services.
The following table shows the key players analyzed in the report:
|B. Braun Melsungen AG
|Eli Lilly and Company
|Becton, Dickinson (BD)
|Tandem Diabetes Care