Global Blood Ketone Meter Market, By Product Type (Blood Ketone Monitoring, Blood Glucose And Ketone Monitoring, Consumables), By Application, By End-use– Industry Trends and Forecast to 2029
Blood Ketone Meter Market Analysis and Size
The CDC estimates that approximately 10.5 percent of Americans have diabetes, and there will be approximately 26.9 million Americans diagnosed in 2020. Similar to this, the American Diabetes Association predicted that 210,000 Americans under the age of 20 will have received a diabetes diagnosis in 2018. The need for blood ketone metres is expected to increase as the number of young people with diabetes rises.
Data Bridge Market Research analyses that the blood ketone meter market which was USD 318.76 billion in 2021, would rocket up to USD 551.80 billion by 2029, and is expected to undergo a CAGR of 7.10% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Blood ketone meter Analysers, POC Test Kits, Blood ketone meter Analyser Kits and Reagents), Application (Basic Metabolite Panel, Liver Function Test, Electrolyte Panel, Kidney Function Test, Lipid Profile, Specialty Chemical Test, Thyroid Profile, Other Biochemical Tests), End User (Hospitals, Pathology Laboratories, Maternity Centres, Outpatient Centres, Clinics)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Abbott (U.S.), APEX Biotechnology Corporation (Taiwan), TaiDoc Technology Corporation (Taiwan), EKF Diagnostics Holdings plc (U.K.), Nova Biomedical (U.S.), KETO-MOJO (U.S.), ACON Laboratories Inc. (U.S.), Care Touch LLC (U.S.), ForaCare Inc. (U.S.), GlucoRx Ltd. (U.K.), Nipro (Japan), Trividia Health, Inc. (U.S.)
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Market Opportunities
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Market Definition
Blood ketone meters are devices that allow you to test for ketones circulating in your body. The body needs to burn fat for fuel and the liver creates these substances. Every individual produces ketones, and they typically pose no health risks. High ketone levels, however, might result in diabetic ketoacidosis (DKA), a potentially fatal condition if you have diabetes.
Blood Ketone Meter Market Dynamics
Drivers
- Rise in research and development activities
Over the forecast period, it is anticipated that rising R&D expenditures by significant market participants to create multi-functional blood ketone metres will increase demand.
- Rise in diabetic patients
The rising prevalence of diabetes patients worldwide and ongoing technical improvements that could increase market demand are key drivers of market expansion. Additionally, it is anticipated that increasing investments by the top rivals in introducing multi-functional blood ketone metres will catalyse the market.
- Rising ageing population
The demand for blood ketone test metres is rising due to an ageing population and an increase in fat people. During the forecast period, advancements in test metres, growing diabetes awareness, health insurance, and reimbursement are the main drivers of the blood ketone market's expansion.
Opportunities
- Increase in the number of research and development activities
Moreover, increasing demand for non-invasive procedures and rising government support for these meters further support the blood ketone meter market demand across the globe.
Restraints/Challenges
On the other hand, the high cost associated with drug development and distribution will obstruct the market's growth rate.
This blood ketone meter market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the blood ketone meter market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Blood Ketone Meter Market
The COVID-19 outbreak significantly impacts the healthcare industry as a whole, which has a significant impact on the worldwide economy. Companies also boost production to keep up with rising consumer demand. Since diabetes patients are more likely to contract the coronavirus, the prevalence of these metres increases during this time. The demand for these metres is directly related to the ongoing requirement to monitor glucose and ketone levels as necessary. Therefore, these characteristics show that the market becomes significantly more well-known throughout the world throughout the pandemic.
Global Blood Ketone Meter Market Scope
The blood ketone meter market is segmented on the basis of product type, testing type, patient care setting and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Blood ketone monitoring
- Blood glucose and ketone monitoring
- Consumables
Testing Site
- Fingertip testing
- Alternate site testing
Patient Care Setting
- Type 1 Diabetes
- Gestational Diabetes
Application
- Human
- Veterinary
Blood Ketone Meter Market Regional Analysis/Insights
The blood ketone meter market is analysed and market size insights and trends are provided by country, product type, testing type, patient care setting and application as referenced above.
The countries covered in the blood ketone meter market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the blood ketone meter market due to the improved infrastructure in healthcare facilities and the high adoption of blood ketone meters.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising awareness regarding diabetes, and increasing government healthcare expenditure.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Blood Ketone Meter Market Share Analysis
The blood ketone meter market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to blood ketone meter market.
Some of the major players operating in the blood ketone meter market are:
- Abbott (U.S.)
- APEX Biotechnology Corporation (Taiwan)
- TaiDoc Technology Corporation (Taiwan)
- EKF Diagnostics Holdings plc (U.K.)
- Nova Biomedical (U.S.)
- KETO-MOJO (U.S.)
- ACON Laboratories Inc. (U.S.)
- Care Touch LLC (U.S.)
- ForaCare Inc. (U.S.)
- GlucoRx Ltd. (U.K.)
- Nipro (Japan)
- Trividia Health, Inc. (U.S.)
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