Blood ketone meters are medical devices used to test and monitor ketone levels in blood for various medical conditions like diabetes. It provides real-time and accurate ketone readings to help manage diabetic ketoacidosis (DKA) and monitor low-carb or ketogenic diets. These meters offer painless and quick ketone testing through a small blood sample obtained typically from fingertips. The global Blood Ketone Meter Market is estimated to be valued at US$ 421.41 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of diabetes across the globe is a key factor driving the growth of the blood ketone meter market. As per the International Diabetes Federation (IDF), around 537 million adults aged 20-79 years were living with diabetes in 2021 worldwide, and the number is anticipated to rise to 643 million by 2030 and 783 million by 2045. Regular testing and monitoring of blood glucose and ketone levels are crucial for diabetes management. Blood ketone meters help diabetic patients keep track of their ketone levels and take timely preventive measures to avoid ketoacidosis. Advancements in technologies used in blood ketone meters have made testing easier and less painful. Features like small test strips, memory to store readings, and connectivity to mobile apps for logbook and data sharing are augmenting their adoption. Growing awareness about ketogenic diets for weight loss is also propelling the demand for reliable home-use meters.
Segment Analysis
The global blood ketone meter market is dominated by the type 1 diabetes sub segment. An estimated 1.2 million Americans are living with type 1 diabetes and require insulin injections and frequent blood glucose monitoring. Blood ketone meters provide an easy, convenient way for those with type 1 diabetes to monitor their ketone levels and ensure they are within the healthy range to avoid ketoacidosis.
Key Takeaways
The Global Blood Ketone Meter Market Share is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis- The North American region currently dominates the global market due to a high prevalence of diabetes and widespread awareness about ketone monitoring. The region is expected to remain the fastest growing market during the forecast period.
Key players - Key players operating in the blood ketone meter market are Arthrex, Inc., Terumo Corporation, Medira Ltd., Dr. PRP America, Cesca Therapeutics, Inc., Estar Technologies Ltd., and Generex Biotechnology Corporation.
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https://www.newsstatix.com/blood-ketone-meter-market-size-share-growth-outlook-2023/
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