BLOOD KETONE METER MARKET ANALYSIS

Blood Ketone Meter MarketSize and Trends

The Global blood Ketone Meter market is estimated to be valued at US$ 342.8 million in 2022 and is expected to exhibit a CAGR of 6.9% during the forecast period (2023-2030).

Market Trends

The blood ketone monitoring segment holds the largest revenue share in the global market due to its ability to detect the early generation of ketones and alert the onset of ketoacidosis, which can reduce the complications of diabetic ketoacidosis. The increasing incidence of diabetes-related complications is expected to drive the market demand worldwide. Additionally, the hospital segments are expected to exhibit the highest growth rate in the coming years. These devices are specifically designed for diabetic patients and are also widely used by dairy farmers and veterinarians to test ketones in cattle. Therefore, the growing adoption of blood glucose and ketone monitoring in both humans and animals is expected to gain popularity in the future. For instance, in September 2022, Novo Nordisk announced the upcoming availability of an unbranded biologic of Tresiba (insulin degludec) injection, a once-daily long-acting basal insulin indicated to control high blood sugar in patients 1 year of age and older with diabetes. The unbranded biologic, insulin degludec, was approved by the US Food and Drug Administration (FDA).

Global Blood Ketone Meter Market Cross Sectional Analysis:

A cross-sectional study of the market for blood ketone metres revealed that in 2022, the market would be worth US$ 342.8 million.The market is anticipated to expand at a compound annual growth rate (CAGR) of 7.2% during the forecast period. Due to the COVID-19 pandemic, blood ketone meters are now more frequently used by diabetics who are at a greater risk of contracting the virus. This has led to market expansion. The hospital segment currently makes up the majority of the market, although the consumables segment is currently the largest section due to an increase in instances of insulin-dependent diabetes. The market segment for blood ketone monitoring holds the biggest proportion against the treatment of diabetes. The market size was estimated to be USD 342.8 million in 2022 and is anticipated to increase by 6.9% CAGR to reach US$ 585.6 million by 2030.