According to the report published by the Market Research Store, global demand for the blood ketone meter market was estimated at approximately USD 306.8 Million in 2020 and is expected to generate revenue of around USD 544.8 Million by the end of 2026, growing at a CAGR of around 7.7% between 2021 and 2026.
Ketones are produced by the body as an alternate source of energy to sugar. Ketone testing is a major part of Type 1 diabetes management because it helps in preventing a risky short-term complication termed diabetic ketoacidosis from taking place. The human body runs mostly on glucose. When the deficiency of glucose in the body occurs, the body starts to break down fats for energy. This breaking down of fats results in the formation of ketone. It is significant for patients suffering from diabetes on insulin to note that ketones are produced when the body has inadequate insulin. Therefore, it is essential to make sure to check the ketosis level in the blood otherwise; the rise in the number of ketones in blood could lead to Type 2 diabetes.
The global market of blood ketone test meters is projected to develop at a major rate in the forthcoming years due to a key factor such as the increase in the occurrence of diabetes. Moreover, the combination of numerous functional tools in devices, the increase in diabetes-related complications, and the technological advancements are leading to the launching of various novel and inventive products for use in ketone monitoring. Also, such innovations are resulting in the expansion of devices with multi-functional gadgets for carrying out several functions for diagnosis and monitoring of Type 1 diabetes. Along with that, the government programs to encourage glucose monitoring are expected to fuel the global market of blood ketone test meters during the forecast period. Furthermore, the growing investments in research and development by major market players to design multi-functional blood ketone meters are projected to expedite the demand for blood ketone meters in the coming years.
| REPORT SNAPSHOT & REPORTING DATA TIMEFRAME | |
|---|---|
| Parameter | Details |
| Historical Date ( Actual Data) | 2016 - 2020 |
| Base Year Data | 2020 |
| Current Year Data | 2021 |
| Projected Data | 2021 - 2026 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | product type, application, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
| Country Scope | U.S.; Canada; Mexico; Germany; France; U.K.; China; Japan; South Korea; Singapore; Malaysia; Brazil; Saudi Arabia |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
The global blood ketone meter market has been classified into product type, application, and end-user. Based on the type of product, the global blood ketone meter market has been divided into blood ketone monitoring, blood glucose and ketone monitoring, and consumables. On the basis of application, the global blood ketone meter market has been segmented into human and veterinary. In terms of the end-user industry, the global blood ketone meter market has been categorized into hospitals, diagnostic centers, home care settings, veterinary hospitals & clinics, ambulatory surgical centers, and others.
Moreover, the occurrence of a large patient pool, the increase in awareness regarding point-of-care testing, the rise in population access to health services, and the rise in government health care spending are some significant aspects propelling the blood ketone test meter market in Asia-Pacific. Also, India, China, Brazil, and Russia, among others, have developed into eye-catching markets for players involved in the advancement and market of blood glucose monitoring devices.
Major market players driving in the global blood ketone meter market cover Abbott Laboratories, Care Touch, ACON Laboratories Inc., Trividia Health Inc., Nipro Corporation, PortaCheck Inc., Keto-Mojo, Nova Biomedical, EKF Diagnostics Holdings Plc, GlucoRx Limited, Taidoc Technology Corporation, Bruno MD, ForaCare Inc., and Apex Biotechnology Corporation. In addition, major market players leading in the global blood ketone test meter market are focusing more on technological developments in devices.
The global market of blood ketone test meters is projected to develop at a major rate in the forthcoming years due to a key factor such as the increase in the occurrence of diabetes.
The global demand for the blood ketone meter market was estimated at approximately USD 306.8 Million in 2020 and is expected to generate revenue of around USD 544.8 Million by the end of 2026, growing at a CAGR of around 7.7% between 2021 and 2026.
In terms of region, North America is contributing to the major share market in the global blood ketone test meter market. This is due to some key factors such as the increase in the occurrence rate of diabetes and the reimbursement of ketone test meters under Medicare and Medicaid facilities.
Major market players driving in the global blood ketone meter market cover Abbott Laboratories, Care Touch, ACON Laboratories Inc., Trividia Health Inc., Nipro Corporation, PortaCheck Inc., Keto-Mojo, Nova Biomedical, EKF Diagnostics Holdings Plc, GlucoRx Limited, Taidoc Technology Corporation, Bruno MD, ForaCare Inc., and Apex Biotechnology Corporation.
Blood Ketone Meter
Blood Ketone Meter
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