Australian Diabetes Management Market and Diabetes Diagnostic Devices Market Spurted by $46 Million Between 2005 and 2013

LONDON and NEW YORK, December 1, 2014 /PRNewswire/ --

http://www.abmrg.com/Australian-Diabetes-Management-Devices-Market-2007-2020.html

The Australian Diabetes Management and Diabetes Diagnostic Devices market jumped by $46 million between 2005 and 2013. The market comprises continuous glucose monitors (CGM), self-monitoring blood glucose (SMBG), manual insulin delivery products, glucose test strips, lancets, syringes, insulin pens and insulin pumps. The growth is driven by the high prevalence of diabetes, acceptance and proliferation of advanced patient compliant technologies, increased reimbursement of devices and government subsidy on consumables. Especially, continuous glucose monitors (CGM), self-monitoring blood glucose (SMBG) and manual insulin delivery products exhibited significant market growth.

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The prevalence of diabetes in Australia has skyrocketed three times to 4.2% over the last 25 years. Around 1 million people in country suffer from diabetes and around 2 million have pre-diabetes. Of these, 11% have type 1 diabetes, 87% have type 2 diabetes and 2% women have gestational diabetes. We estimate that approximately 3.4 million citizens will suffer from diabetes by 2030. This high progression rates in diabetes can be attributed to the growth in elderly population, increased life expectancy, obesity, sedentary life style, unhealthy diet and high stress levels. Further, factors like smoking and physical inactivity have led to increased prevalence of both the types of diabetes in young people.

However, various new technologies for diabetes management have helped reduce adverse events and risk of insulin pump (IP) malfunctioning. This has also promoted the acceptance and adoption of sophisticated products leading to improved patient compliance and better management of diabetes.

The improvement in government initiatives has also fuelled the market growth. Australian government provides approximately 70% reimbursements for glucose test strips under the Pharmaceutical Benefits Scheme (PBS). The Australian Institute for Health and Welfare (AIHW) reports that the number of new Insulin Pump Therapy (IPT) users increased from 107 to 140 per month during the period from 2003 to 2010-pushing up the number of IPT users to 10,510 in 2010. Increased affordability due to the Government's Insulin Pump Program (IPP), subsidized Insulin Pump Consumables (IPC) and private health insurance has contributed to the increased use of IPT over the past 10 years.

Among the key players F. Hoffmann-La Roche AG (ROG: SIX), LifeScan, Inc., a Johnson & Johnson Company (NYSE: JNJ) and Abbott Laboratories (NYSE: ABT) enjoy a major share of the market. Other players include Animas Corporation (Nasdaq: PUMP), ARKRAY, Inc., Bayer HealthCare AG (BAYN: DE), Becton, Dickinson and Company (NYSE: BDX), Eli Lilly and Company (NYSE: LLY), Medtronic, Inc. (NYSE: MDT), Novo Nordisk A/S (Copenhagen: NOVOb.CO - Reuters; NYSE: NVO), Sanofi S.A. (SAN: EN; NYSE: SNY), Smiths Medical, a division of Smiths Group Plc (LSE: SMIN) and Terumo Corporation (TSE: 4543).

'Australian Diabetes Management Devices Market, 2007-2020', a market intelligence report published by ABMRG recently, covers all the major product segments of diabetes devices and provides historical and statistically refined forecast data for the segments covered. It not only puts forth a detailed overview of historical trends and forecasts (2007-2020), the annualized trends for sales in terms of value and volume, market growth, pricing (Average Selling Price or ASP), competitive landscape and market share, but offers a cross-category comparison of historical and forecast periods, market drivers, market restrains and challenges. In addition, it presents an inclusive account of global industry developments for the past two years, including M&As, partnerships, clinical studies, pipeline, product approvals and launches, recalls and litigations, market dynamics and market drivers and restrains.

Why one should buy this report 

The report can be instrumental in making strategic decisions pertaining to:

• Competitive diabetes product launch
• Capital investments based on the forecast for high potential diabetes segments.
• Capitalization of opportunities in high-growth geographies and attractive diabetes markets.
• Identification of in-licensing and out-licensing opportunities, and recognizing potential business partners and M&A targets within the diabetes market.
• Procurement of raw material and inventory well in advance for the diabetes equipment companies.
• Preparation of management and strategic presentations for the investors and shareholders.
• Managerial presentations to the management.

Other strategic market reports: 

• China Diabetes Management Devices Market, 2007 - 2020

http://abmrg.com/China-Diabetes-Management-Devices-Market-2007-2020.html

• US Diabetes Management Devices Market Growth Trends, 2013

http://www.abmrg.com/US-Diabetes-Management-Devices-Market-Growth-Trends-2013.html

• Asia Pacific Diabetes Management Market Outlook Through 2020

http://abmrg.com/Asia-Pacific-Diabetes-Management-Market-Outlook-Through-2020.html

• France Diabetes Management Devices Market Growth Trends, 2013

http://www.abmrg.com/France-Diabetes-Management-Devices-Market-Growth-Trends-2013.html

• Europe Diabetes Management Market Outlook Through 2020

http://abmrg.com/Europe-Diabetes-Management-Market-Outlook-Through-2020.html

About ABMRG 

ABMRG (Ace Business and Market Research Group) is a research and consulting firm focused on medical technology and pharmaceuticals. It offers comprehensive research and analytical studies targeting company, country and therapeutic sector, highlighting market dynamics, vital trends, business strategies, clinical pipeline and technology advancements. Its cutting edge reports empower companies to make smarter, effective and faster strategic decisions for business growth.

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SOURCE ABMRG