Blood Ketone Monitoring to Represent Nearly Half of the Bloo...| MENAFN.COM

Friday, 01 July 2022 07:28 GMT

Blood Ketone Monitoring to Represent Nearly Half of the Blood Ketone Meter Market by 2032, Reveals Fact.MR Analysis

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ROCKVILLE Md., March 08, 2022 (GLOBE NEWSWIRE) -- The Blood Ketone Meter market revenues were estimated at US$ 275 Mn in 2021 and is anticipated to grow at a CAGR of 8.1% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach US$ 646 Mn. Blood ketone monitoring segment reflects the most potent revenue stream, with an estimated growth of 2.5X between 2022 and 2032, reaching a projected value of US$ 303 Mn by 2032-end.

The need for blood ketone meter escalated during the COVID-19 pandemic, as both Type 1 and Type 2 diabetes patients were exposed to high risk of illness. According to the statistics from Primary Care Diabetes Society, ketone monitoring should not be delayed during this COVID-19 pandemic as people with pre-existing medical illnesses such as diabetes, asthma, and heart disease are at high risk of COVID-19 infection. As a result, the need for blood ketone meter grew, as blood ketone levels must be measured every 4 to 6 hours.

Report Attribute Details
Market size value in 2021 USD 1.8 Bn
Revenue forecast in 2032 USD 2.4 Bn
Growth rate CAGR of 8.1% from 2022 to 2032
Base year for estimation 2017-2032

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Competitive Landscape
These companies operating in Blood Ketone Meters Market compete based on innovation of their products, their brand reputation, and their market presence in order. The recent years showcased the following developments in the blood ketone meter market:

  • In March 2020, EKF Diagnostics, announced FDA- CLIA waived -ketone and glucose POC analyzer STAT-Site WB Analyzer. In the United States, this device is a recent addition to the company's diabetes treatment offering
  • In February 2020, Beyond Type 1 Diabetes, a global diabetes foundation, announced its collaboration with the National Association of School Nurses. It was targeted to increase awareness about the warning signs of Type 1 dibetes. Beyond Type 1 proponents will increase its efforts in ten target U.S. states, including Arkansas, Connecticut, Florida, Massachusetts, New Jersey, North Carolina, Ohio, Oklahoma, Pennsylvania, and Texas.

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Market Segments Covered in Blood Ketone Meter Industry Analysis
By Product Type :

  • Blood Ketone Monitoring
  • Blood Glucose and Ketone Monitoring
  • Consumables

By Application :

  • Human
  • Veterinary
  • By End-use :
  • Homecare Settings
  • Hospitals
  • Diagnostic Centers
  • Other End-uses

By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

Key Takeaways from the Market Study

  • Global Blood Ketone Meter market is estimated to reach a market size of US$ 123 Mn by 2022
  • Top Product Type being Blood Ketone Monitoring expected to grow at a CAGR of 9.5%.
  • Revenue of blood ketone meter's application among Humans is expected to grow at a CAGR of 8.7%.
  • North America and APAC together represents nearly 65% of the global blood ketone meters revenue.
  • With nearly 11% projected growth rate, Blood Ketone Meter revenue is expected to grow at fastest pace in Japan, during 2022 – 2032.

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The rise in prevalence of diabetic ketoacidosis and diabetes and increasing product approvals and launches can be attributed to the Blood Ketone Meter industry growth, comments a Fact.MR analyst.

Revenue Analysis of Blood Ketone Meter industry -
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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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Blood Ketone Meter market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of by Product Type (Blood Ketone Monitoring, Blood Glucose and Ketone Monitoring, Consumables), Application (Human, Veterinary), End-use across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

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