BLOOD KETONE METER MARKET ANALYSIS

Market Challenges And Opportunities

Global Blood Ketone Meter Market – Drivers

Launch of new products by key market players to expand product portfolio

Increasing incidence of diabetes coupled with rising cases of diabetic ketoacidosis are expected to drive the blood ketone meter market growth. Market players are focused on launching new products in the market, which is expected to boost the growth of the global blood ketone meter market. For instance, in November 2022, Eli Lilly and  Company , The Tempo Personalised Diabetes Management Platform, which includes the Tempo Smart Button, TempoSmart, compatible software, and TempoPen, a prefilled insulin pen, has started to be rolled out by the company to provide personalised assistance for adults with diabetes.

Global Blood Ketone Meter Market - Key Trends

Better healthcare infrastructure, effective government policies, and Investment from key players in R&D can drive the growth of market.

Effective government policies

The blood ketone meter market is experiencing significant growth due to various factors, including the increasing support and initiatives from governments for glucose monitoring adoption. For example, campaigns introduced by organizations such as the American Medical Association, Centre of Disease Control, and ADA, the American Diabetes Association have helped raise awareness about pre-diabetes and encouraged people to undertake tests for diabetic conditions.

Better healthcare infrastructure

Additionally, the National Diabetes Awareness Month in November is aimed at promoting diabetes prevention and control. The market is also benefiting from technological advancements, such as the introduction of multi-functional devices and different body function monitoring devices.

Investment from key players in R&D can drive the growth of market:

Key players are investing in R&D activities to propose multi-functional devices and accelerate the proliferation rate of innovative healthcare diagnostic tools. For Instance, in May 2021 Roche Diabetes Care, a global leader for diabetes management systems and services announced that it has signed a collaboration agreement with Eli Lilly and Company, a global leader in diabetes care delivering innovative solutions including medicines and technologies, to work towards optimising the management of insulin pen therapy. By collaborating with Lilly, Roche follows its ambition to create an open ecosystem including its own and partner devices, solutions and services, across the continuum of care in diabetes

Global Blood Ketone Meter Market: Restraint

Inaccuracy in Blood Glucose Monitoring

Blood ketone meter sales are expected to be constrained by a growing number of issues, including technical flaws and inconsistent readings in ketone meters. As blood ketone meters are highly advanced technological equipment, they can experience technical problems, inconsistent findings, and other problems that could cause product recalls. For instance, in September 2022, KetoSens Test Strips batch UJ03PBXNG, manufactured by I-SENS, Inc., have been recalled because they give false readings.The test results showed that the patient had higher ketone levels than their actual levels. For instance, in February 2020, Abbott Laboratories, a medical devices and health care company recalls its Class 2 Device Precision Xtra Blood Glucose and ketone Monitoring system.

Global Blood Ketone Meter Market-Restraints

Inaccuracy in Blood Glucose Monitoring

Blood ketone meter sales are expected to be constrained by a growing number of issues, including technical flaws and inconsistent readings in ketone meters. As blood ketone meters are highly advanced technological equipment, they can experience technical problems, inconsistent findings, and other problems that could cause product recalls. For instance, in September 2022, KetoSens Test Strips batch UJ03PBXNG, manufactured by I-SENS, Inc., have been recalled because they give false readings.The test results showed that the patient had higher ketone levels than their actual levels.