Blood Ketone Meter Industry Overview
The global blood ketone meter market size was valued at USD 279.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028.
A rise in diabetes-related complications has led to the introduction of novel products for monitoring ketone and glucose. Increasing investments in R&D by key market players to design multi-functional blood ketone meters are anticipated to accelerate the demand for blood ketone meters over the forecast period. COVID-19 has had a profound impact on the healthcare system and has drastically impacted the global economy. The pharmaceutical companies are focusing on innovating numerous devices, such as blood ketone meters, and increasing their production as well as supply to curb the demand during the pandemic.
Gather more insights about the market drivers, restrains and growth of the Global Blood Ketone Meter Market
The usage of blood ketone meters has increased since the emergence of COVID-19. Patients with diabetes are at high risk of getting infected with COVID-19. With proven or suspected COVID-19 disease, individuals with diabetes need to monitor blood ketone and glucose levels as appropriate. With such increasing demand for blood ketone meters throughout the globe, the market is expected to witness significant growth during the forecast period.
The rising incidence of diabetes is among the major factors augmenting the market growth. According to the CDC, around 10.5% of the U.S. population was suffering from diabetes and around 26.9 million people of the U.S. were diagnosed with diabetes in 2020. Similarly, in 2018, as per the American Diabetes Association, around 210,000 Americans under age 20 were projected to have been diagnosed with diabetes. This rise in the number of diabetes among youth is anticipated to create the demand for blood ketone meters.
Various manufacturers such as Abbott, Keto-Mojo, and EKF Diagnostics are focusing on technologically advanced blood ketone meters to maintain a strong market presence. Market participants are getting CE as well as FDA approval for their advanced blood ketone meters, which, in turn, will help in capturing a larger market share.
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Blood Ketone Meter Market Segmentation
Grand View Research has segmented the global blood ketone meter market on the basis of product type, application, end-use, and region:
Blood Ketone Meter Product Type Outlook (Revenue, USD Million, 2016 – 2028)
- Blood Ketone Monitoring
- Blood Glucose and Ketone Monitoring
Blood Ketone Meter Application Outlook (Revenue, USD Million, 2016 – 2028)
Blood Ketone Meter End-use Outlook (Revenue, USD Million, 2016 – 2028)
- Diagnostic Centers
- Homecare Settings
Blood Ketone Meter Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- March 2019: Keto-Mojo partnered with Heads Up Health. This partnership helped patients to instantly Sync Keto-Mojo ketone and glucose reading in their personalized Heads Up Health dashboard.
Key Companies profiled:
Some prominent players in the global blood ketone meter market include
- Abbott Laboratories
- APEX Biotechnology Corporation
- TaiDoc Technology Corporation
- EKF Diagnostics
- Nova Biomedical
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