The growing Lactate Meters Market is driven by rising incidence of sports injuries
The lactate meters have advantages such as easy to use design, quick results within seconds, and no requirement for sending blood samples to the laboratory. The growing cases of sports injuries and the need for the athletes to monitor their lactate levels during training and matches has boosted the demand for lactate meters. The Global Lactate Meters Market is estimated to be valued at US$ 296.8 Mn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in theLactate Meters Market Demand are Nova Biomedical, EKF Diagnostics, ApexBio, ARKRAY, Inc., Sensa Core Medical, TAIDOC TECHNOLOGY CORPORATION, F. Hoffmann-La Roche Ltd, Jorgensen Labs, Medtronic, and Nemaura. The key players are focusing on new product launches, collaborations, and geographic expansions to gain more market share.
The Lactate Meters Market is witnessing high growth owing to rising incidents of sports injuries and increasing awareness about personal health management among athletes and sports professionals. The lactate meters help determine the training intensity, warm-ups, and recovery needs. This drives the demand for lactate meters.
The key players are expanding their geographical presence into emerging markets of Asia Pacific, Latin America, and Middle East and Africa. This is attributed to increasing healthcare spending, growing incidence of lifestyle diseases, and rising focus on preventive healthcare in these regions.
Market Drivers
The rising participation in sports and fitness activities across the globe has increased the risk of sports injuries. According to statistics, over 3.5 million injuries are recorded due to sports and fitness activities each year in the US. This has increased the need for efficient monitoring and management of exercise intensity to prevent injuries. The lactate meters allow timely guidance to trainers and athletes about the lactate thresholds, helping prevent injuries and optimize performance. This is a key factor driving the growth of the lactate meters market.
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