Blood Ketone Monitoring Is Expected To Be The Highest Revenue Generating Product, With A CAGR Of 9.5%

As per the Blood Ketone Meter industry research by Fact.MR – a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Blood Ketone Meter market increased at around 7.4% CAGR, wherein, countries such as the U.S., China, Japan, U.K. and South Korea held significant share in the global market.

The incorporation of multiple functional tools in devices, technological advancements, and an increase in diabetes-related complications have resulted in the introduction of several new and innovative products for use in the monitoring of ketones, which will help the blood ketone metre market gain momentum in the coming years. Owing to this, Blood Ketone Meter market is projected to grow at a CAGR of 8.1% over the coming 10 years.

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• The Blood Ketone Meter market is estimated to reach a valuation of US$ 296.9 Mn in 2022 owing to which the worldwide revenues was up by 7.9% year-over-year.
• Fact.MR estimates that Blood Ketone Meter revenue will grow 2.1X from 2022 to 2032, reaching nearly US$ 646.3 Mn in 2032.
• Among product types, blood ketone monitoring meters is projected to grow at a CAGR of over 9% during the forecast period.
• During the period of projection, the market is expected to grow at a CAGR of 8.7% through Human application.

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.

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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.

Blood Ketone Meter Market Report Scope

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The incorporation of multiple functional tools in devices, technological advancements, and an increase in diabetes-related complications have resulted in the introduction of several new and innovative products for use in the monitoring of ketones, which will help the blood ketone metre market gain momentum in the coming years. Owing to this, Blood Ketone Meter market is projected to grow at a CAGR of 8.1% over the coming 10 years.

• The Blood Ketone Meter market is estimated to reach a valuation of US$ 296.9 Mn in 2022 owing to which the worldwide revenues was up by 7.9% year-over-year.
• Fact.MR estimates that Blood Ketone Meter revenue will grow 2.1X from 2022 to 2032, reaching nearly US$ 646.3 Mn in 2032.
• Among product types, blood ketone monitoring meters is projected to grow at a CAGR of over 9% during the forecast period.
• During the period of projection, the market is expected to grow at a CAGR of 8.7% through Human application.

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