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