Increasing prevalence fueling demand for diabetes assays market in Australia, says GlobalData

The necessity to screen and monitor diabetes patients is driving the diabetes assays market in Australia. The market, which declined in 2020 due to the COVID-19 pandemic, is expected to recover in 2021 with growth returning from 2022 onwards, forecasts GlobalData, a leading data and analytics company.

GlobalData’s latest report, ‘Diabetes Assays (In Vitro Diagnostics) – Global Market Analysis and Forecast Model (COVID-19 market impact)’, reveals that glycated hemoglobin (HbA1c) POC assays and HbA1c laboratory assays accounted for more than 90% of the Australian diabetes assays market in 2020.

Siemens Healthineers AG, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories Inc and Abbott Laboratories are the leading players in Australia.

Gundreddy Gopinadh, Medical Devices Analyst at GlobalData, comments: “HbA1c POC and laboratory assays are used for both diagnosis and monitoring of diabetic patients. High quality diabetic care management and easy access to healthcare facilities in Australia are expected to boost the diabetes assays market growth.

“Growing awareness about the importance of diagnosis, regular screening of high risk population and proper utilization of government schemes such as  National Diabetes Services Scheme and Medicare Safety Nets Scheme to limit the out of pocket spending are expected to further contribute to the growth of diabetes assays market in Australia.”

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