Key Market Indicators
**Australian Diabetes Medicine Sales to Hit $1.2 Billion by 2028** Australia's diabetes medicine market is anticipated to surge to approximately $1.2 billion by 2028, up from $930 million in 2023. This growth represents a compound annual growth rate (CAGR) of 3.1%. The market has shown a notable increase since 1995, with a year-on-year growth rate of 10.8%. In 2023, Australia ranked third in the global market, with Italy surpassing it at the same $930 million mark. The top three positions in this ranking were held by Italy, Australia, and Croatia, respectively. **Australia's Insulin Exports to Reach $5.7 Million by 2028** Australia's insulin export market is projected to reach $5.7 million by 2028, up from $4.8 million in 2023. This marks an average annual growth rate of 2.3%. The country's insulin supply has increased modestly by 0.6% year-on-year since 1993. In 2023, Australia was ranked 21st in the global market, with Slovakia overtaking it at $4.8 million. The leading countries in this sector were France, Italy, and China, occupying the second, third, and fourth positions, respectively. **Australian Insulin Imports to Climb to $144 Million by 2028** The import market for insulin in Australia is expected to rise to $144 million by 2028, up from $134 million in 2023, growing at an annual rate of 1%. Since 1993, Australian demand for insulin has increased by 2.2% year-on-year. This steady growth highlights the increasing reliance on imported insulin to meet the country's health needs.
