Global sales of Blood Ketone Meter in 2021 was held at US$ 275.1 Mn. With 8.1%, the projected market growth during 2022 – 2032 is expected to be significantly higher than the historical growth. Blood Ketone Monitoring is expected to be the highest revenue generating product, with a CAGR of 9.5%, during 2022 – 2032.
Excessive ketone production can result in ketoacidosis, a condition in which the blood becomes acidic. Diabetes ketoacidosis (DKA) is a devastating consequence of type 1 diabetes that is far less common in type 2 diabetes. As a result, it is critical for patients with diabetes to keep track of their ketone levels. A blood ketone metre is a device that measures the amount of ketones in the blood. A metre that monitors blood ketone levels is the most accurate approach to test for ketones. Blood glucose metres may assess blood ketone levels in addition to glucose levels.
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Market Segments Covered in Blood Ketone Meter Industry Analysis
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By Product Type :
- Blood Ketone Monitoring
- Blood Glucose and Ketone Monitoring
- Consumables
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By Application :
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By End-use :
- Homecare Settings
- Hospitals
- Diagnostic Centers
- Other End-uses
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By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Competitive Analysis
Product approvals, new product releases, acquisitions, collaborations, and innovations are the key strategies used by leading market players to maintain their market position. The key manufacturers are also concentrating on combo kits that deliver both blood glucose readings and ketone levels.
The leading players in the Blood Ketone Meter market have been implementing various strategies to increase growth potential over the next years. Furthermore, the presence of many rising and well-established firms has defined the market for Blood Ketone Meter.
Partnerships and expansion have been the prominent development in Blood Ketone Meter market in recent years. Abbott Laboratories; EKF Diagnostics; Nova Biomedical; Nipro Corporation; ACON Laboratories; KETO-MOJO; Apex Biotechnology Corp; TaiDoc technology Corporation; ForaCare, Inc. are the prominent providers of Blood Ketone Meter services. Some of the recent developments of key Blood Ketone Meter providers are as follows:
- In March 2020, EKF Diagnostics, a global in vitro diagnostics firm, announced market launch of the FDA CLIA-waived -ketone and glucose POC analyzer STAT-Site WB Analyzer in the United States. In the U.S., this device is a recent addition to the company’s diabetes treatment offering. The STAT-Site WB is a dual-use whole blood-ketone and glucose metre designed for professional usage in diabetes management.
- In February 2020, Beyond Type 1 Diabetes, a global diabetes foundation, launched a new relationship with the National Association of School Nurses in to raise awareness about the warning symptoms of type 1 diabetes (T1D). With this new collaboration, awareness materials will be disseminated to tens of thousands of school nurses across the United States. Furthermore, Beyond Type 1 proponents will increase their efforts in ten target states: Arkansas, Connecticut, Florida, Massachusetts, New Jersey, North Carolina, Ohio, Oklahoma, Pennsylvania, and Texas.
- In December 2019, ForaCare Suisse AG (ForaCare Inc.’s European subsidiary) announced the release of the FORA 6 GTel multi-functional monitoring gadget with revolutionary ‘Lab in the Pocket’ technology. Fora Connect, the company’s new mini-website, was also unveiled. The unique 6-in-1 monitoring system transmits smooth 3G/4G data of six essential health parameters via a single device: blood glucose (BG), hemocrit (HCT), haemoglobin (HB), -ketone (KB), total cholesterol (TCH), and uric acid (UA). As a result, such approvals are projected to boost the worldwide blood ketone metre market growth.
Similarly, recent developments related to companies offering Blood Ketone Meter have been tracked by the team at Fact.MR, which are available in the full report.
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What Segment Holds the Largest Opportunity for Blood Ketone Meter Market?
Blood Ketone Monitoring is the top product type with an estimated CAGR of 9.5% during the forecast period. Ketone monitoring metres may aid in the early detection of ketones and may also warn of imminent ketoacidosis, perhaps reducing the severity of diabetic ketoacidosis. As a result, rising diabetes-related problems are expected to boost demand for blood ketone metres throughout the forecast period.
Globally, the need for blood glucose and ketone testing is rising. Blood glucose and ketone monitoring devices were originally intended for use with diabetic human patients; however, once ketone strips were developed, they were rapidly embraced by dairy producers and veterinarians to check ketones in cattle. As a result, the rising use of blood glucose and ketone monitoring in people and animals is expected to secure the market position.
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