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.
Analysts Views
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.
Regional Overview
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.
Competitive Landscape
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
- Nova Biomedical
- KETO-MOJO
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