The global blood ketone meter market was valued at USD 0.27 bn in 2020, however growing at a CAGR of 6.8% from 2020 to 2028, it is estimated to reach USD 0.50bn.
The market is driven by factors such as the growing geriatric population, increasing prevalence of diabetes and obesity, the rising importance of non-invasive monitoring of blood ketone levels and technological developments in the field of medical devices.
Researchmoz shares a comprehensive analysis of the market, with estimations from 2020 to 2028. It also highlights the technological advancements and new product launches of major players operating in the blood ketone meter market during the forecast period, including threats and opportunities in the market.
The surge in Diabetes Cases to Boost Sales of Ketone Meter
The growing prevalence of diabetes across the globe and lifestyle diseases are fuelling the growth of the global blood ketone meter market over the forecast period. Further, increasing investment in research and development in the area of ketone meters is expected to boost sales of the ketone market during the forecast period.
Growing Awareness to Strengthen the Blood Ketone Meter Market
The main factor driving the demand for these meters is the increasing awareness among diabetics about the importance of keeping their sugar levels and ketoacidosis checked. Increasing funding by government agencies for research and development (R&D), and the growing geriatric population are some of the key factors fueling the market growth over the forecast period.
However, the high cost of blood ketone meters is expected to restrain the growth of the market in the near future.
Nonetheless, the rising demand for ketone meters from the pharmaceutical sector is anticipated to drive the global blood ketone meter market.
The key players are increasing their investments in the research and development for the product development at the blood ketone meter front.
The growing adoption from dairy farmers and vets, who use these products to monitor ketones in cattle is also pushing the growth opportunities in the global blood ketone meter market.
The need for tracking blood ketone levels in order to prevent ketoacidosis is nudging the growth of the global blood ketone meter market.
The growing body of evidence linking high blood glucose levels with increased risks of heart diseases and stroke is expected to enhance the adoption of these devices in clinics, hospitals and home care settings.
North America will dominate the global blood ketone meter market, owing to the increasing incidence of kidney failure, growing awareness regarding the ketogenic diet and rising demand for non-invasive glucose and ketone monitoring.
The Asia Pacific will emerge as a growing market due to the growing patient pool and a surge in lifestyle diseases in developing economies over the next few years.
The report by Researchmoz offers a deep insight into the global blood ketone meters market. The research study highlights current trends, opportunities or high growth areas, and market drivers which will help companies to design their strategies in the global blood ketone meters market.
The global blood ketone meter market is highly competitive and fragmented in nature. These leading market players are concentrating on collaboration, partnerships, product development and innovations.
The companies in the blood ketone meter market include
- APEX Biotechnology Corporation
- TaiDoc Technology Corporation
- GlucoRx Limited
- PortaCheck Inc.
- Abbott Laboratories
- APEX Biotechnology Corporation
The report covers the present scenario and growth prospects of the global blood ketone meters market and some of the takeaways from the report are-
- The blood ketone meters market is expected to witness growth at a significant CAGR of 6.8% during the forecast period 2020 to 2028.
- World wide surge in the cases of diabetes is driving the global blood ketone meters market in the next few years.
- Growing awareness is adding growth opportunities to the blood ketone meters market.
- The home care segment will see a surge to avoid hospital long haul stays and crowding of hospitals.
- North America will dominate the market, while the Asia Pacific will emerge as a growing market in the global blood ketone meters market over the forecast period.
Product Type Outlook (Revenue, USD Billion)
- Blood Glucose and Ketone Monitoring
- Blood Ketone Monitoring
Application Outlook (Revenue, USD Billion)
End-use Outlook (Revenue, USD Billion)
- Homecare Settings
- Diagnostic Centers
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)