Blood Ketone Meter Market size is expected to reach USD 501.5 million by 2028

 Blood Ketone Meter Industry Overview

The global blood ketone meter market size is expected to reach USD 501.5 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.7% from 2021 to 2028. Reimbursement scenario and favorable health insurance are significant factors that are anticipated to surge the demand for blood ketone meters. Technological advancements in Type 1 Diabetes care lead to the increasing preference for automated devices among individuals that aid in reducing disease burden.

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:

Based on the Product Type Insights, the market is segmented into Blood Ketone Monitoring Blood Glucose and Ketone Monitoring and Consumables

  • The blood ketone monitoring segment captured the largest share of over 40.0% in 2020. Ketone monitoring meters may help in the early identification of the production of ketones and may also warn of impending ketoacidosis that may eventually reduce the complications of diabetic ketoacidosis. 
  • The blood glucose and ketone monitoring segment are expected to register a growth rate of 6.6% during the forecast period. The demand for blood glucose and ketone testing is increasing globally. Blood glucose and ketone monitoring devices are designed for use with diabetic human patients, however later on, as ketone strips were produced with these devices, they are widely adopted by dairy farmers and vets to monitor ketones in cattle. 

 

Based on the End-use Insights, the market is segmented into Hospitals, Diagnostic Centers, Homecare Settings and Others

  • The hospital's segment captured the largest share of more than 32.0% in 2020. The increasing number of hospital admissions, especially the older patients suffering from diabetes due to the recent outbreak of COVID-19, is anticipated to propel the segment growth. Rising cases of diabetic ketoacidosis are also anticipated to fuel the segment growth.
  • The home care settings segment is predicted to register a significant CAGR during the forecast period. The availability of trained nurses and the rising preference for home care in developing as well as developed countries are expected to fuel the segment growth during the forecast period.

Based on the Application Insights, the market is segmented into Human and Veterinary

  • The human segment accounted for the largest share of over 50.0% in 2020. Blood ketone meters improve the recovery time among patients that develop diabetic ketoacidosis. They may also be useful in humans with different types of diabetes that are insulin-dependent. And patients with insulin-dependent diabetes are recommended to opt for a ketone
  • The veterinary segment held a considerable revenue share in 2020. The rising focus of manufacturers such as TaiDoc Technology and Porta Check on developing veterinary blood ketone meters is anticipated to spur the segment growth during the forecast period.
  • Veterinary blood ketone meters are easy to use and are affordable for routine monitoring, thereby surging their demand among animals.

 

Blood Ketone Meter Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

 

Key Companies Profile & Market Share Insights

Product approvals, new product launches, acquisitions, collaborations, and innovations are key strategies adopted by major market players to maintain their share in the market. Major manufacturers are focusing on combination products that provide blood glucose reading along with ketone levels.  

Some prominent players in the global blood ketone meters market include:

  • Abbott Laboratories
  • APEX Biotechnology Corporation
  • TaiDoc Technology Corporation
  • EKF Diagnostics
  • Nova Biomedical
  • KETO-MOJO

 

Order a free sample PDF of the Blood Ketone Meter Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

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Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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