Blood Ketone Meter Market Size Will Reach to USD 725.35 Million by 2030: Polaris Market Research
The global blood ketone meter market size is expected to reach USD 725.35 million by 2030 according to a new study by Polaris Market Research.
The major impelling factor for the market growth includes the increasing occurrence of diabetes-associated problems among the population, along with rising responsiveness about the availability of the blood ketone meter. In addition, growing investment by the leading vendors in the R&D activities also fuels the market development. Furthermore, the onset of COVID-19 stimulates product demand owing to the escalating incidences of diabetes subsequent to covid-19 patients. Hence, these are the certain factors that may bring an upsurge in the market demand in the impending years.
Based on the end-use, the hospital segment is dominating the global market owing to the factors such as escalating hospital admissions. In addition, the rising number of diabetic patients, majorly the geriatric population, during the pandemic is also boosting the segment growth. At the same time, the home care settings segment is expected to rise at the highest CAGR in the foreseen years. The accessibility of skilled nurses and the growing inclination for home care in emerging and developed nations are further supporting the segment demand.
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The occurrence of diabetes along with growing cases of diabetic ketoacidosis is projected to boost the market demand worldwide. For instance, as per the International Diabetes Federation (IDF) report, in 2019, approximately 463 million adults of age between 20 to 79 years were suffering from diabetes around the world 2019. And, this amount is likely to reach 700 million by 2045. Besides, as per the Centers for Disease Control and Prevention (CDC), about 30 in 1,000 people were hospitalized in March 2018 because of diabetic ketoacidosis in the U.S. Hence, this growing diabetic patient pool requires the frequent check-up for maintaining their health and fitness, which, in turn, may boost the market demand in the impending years.
Market participants such as Abbott Laboratories, ACON Laboratories, APEX Biotechnology Corporation, Bruno Pharma, Care Touch, EKF Diagnostics, ForaCare, GlucoRx, KETO-MOJO, Nipro Corporation, Nova Biomedical, TaiDoc Technology Corporation, Trividia Health, Inc. are some of the key players operating in the global market.
There are various market vendors introducing their innovations across the global market to reinforce their geographical footprints. For instance, in July 2021, EKF Diagnostics introduced its STAT-Site WB handheld analyzer. This product helps in the delivery of β-ketone and measuring glucose levels from overall blood in seconds. STAT-Site WB received CE mark certification along with U.S. Food and Drug Administration CLIA-waiver that denotes that the product is convenient; the dual-purpose analyzer is perfect for specialized use in the administration of diabetes patients.
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Polaris Market research has segmented the blood ketone meter market report on the basis of product, application, end-use, and region:
Blood Ketone Meter, Product Outlook (Revenue – USD Million, 2018 – 2030)
- Blood Ketone Monitoring
- Blood Glucose and Ketone Monitoring
- Consumables
Blood Ketone Meter, Application Outlook (Revenue – USD Million, 2018 – 2030)
- Human
- Veterinary
Blood Ketone Meter, End-use Outlook (Revenue – USD Million, 2018 – 2030)
- Hospitals
- Diagnostic Centers
- Home Care Settings
- Others
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