According to a newly released Fact.MR analysis, the Blood Ketone Meter market revenues were expected to be US$ 275 Mn in 2021 and are projected to increase at a CAGR of 8.1 percent from 2022 to 2032. The market is anticipated to reach US$ 646 Mn by the end of 2032. With an anticipated 2.5X rise between 2022 and 2032, the blood ketone monitoring category represents the most potent revenue stream, with a projected value of US$ 303 Mn by 2032’s end.
Due to the increased risk of sickness for both Type 1 and Type 2 diabetes patients during the COVID-19 pandemic, the necessity for blood ketone meters increased. As persons with pre-existing medical conditions including diabetes, asthma, and heart disease are at a higher risk of contracting COVID-19, according to statistics from the Primary Care Diabetes Society, ketone monitoring should not be postponed during the current COVID-19 pandemic. Due to the requirement to check blood ketone levels every 4 to 6 hours, the necessity for blood ketone meters increased.
By 2022, it is predicted that the global blood ketone meter market will be worth US$123 million, with the blood ketone monitoring product type growing at a CAGR of 9.5%.
Application revenue for blood ketone meters in humans is anticipated to increase at a CAGR of 8.7%.
With a projected growth rate of about 11%, Japan is expected to experience the greatest rise in blood ketone meter sales between 2022 and 2032, accounting for close to 65 percent of the global market.
These businesses competing in the blood ketone meters industry must differentiate themselves by product innovation, brand recognition, and market presence. The blood ketone meter industry has seen the following changes recently:
• FDA- CLIA waived -ketone and glucose POC analyzer STAT-Site WB Analyzer was launched by EKF Diagnostics in March 2020. This device is a recent addition to the company’s line of diabetes treatment products available in the United States.
• The National Association of School Nurses and Beyond Type 1 Diabetes, global diabetes nonprofit, announced their partnership in February 2020. It was intended to raise awareness of the Type 1 diabetes warning symptoms. In ten target states in the United States, including Arkansas, Connecticut, Florida, and Massachusetts, Beyond Type 1 proponents will step up their efforts.
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