Blood Ketone Test Meter Market: Introduction
- Ketones are produced by the body as an alternative source of energy to sugar. Ketone testing is a key part of Type 1 diabetes management, as it helps to prevent a dangerous short-term complication called diabetic ketoacidosis from occurring. The human body primarily runs on glucose. When there is a deficiency of glucose in the body, the body starts breaking down fats for energy. This breaking down of fats results in the creation of ketones. It is important for patients with diabetes on insulin to note that ketones can be produced when the body has insufficient insulin. Thus, it is necessary to check the ketosis level in the blood or else, increase in number of ketones in blood can lead to Type 2 diabetes.
- The global blood ketone test meter market is anticipated to expand at a significant pace during the forecast period, owing to rise in prevalence of diabetes
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Key Drivers of Global Blood Ketone Test Meter Market
- According to Beyond Type 1, a non-profit organization that works for the benefit of people suffering from diabetes, the rate of incidence of Type 1 diabetes is rising globally. It further states that in the U.S. alone, 1.25 million people have Type 1 diabetes and in the countries such as Germany, around 18 per 100,000 children aged between 1 years and 14 years are suffering from Type 1 diabetes. Such high incidence rate across the world is expected to drive the demand for blood ketone test meters.
- Government initiatives to promote glucose monitoring are likely to drive the blood ketone test meter market. In 2016, the CDC, ADA, and the American Medical Association launched a campaign to raise awareness about prediabetes and encourage people to undergo test for the condition. Every year, November is considered as the National Diabetes Awareness month with the aim to raise awareness about diabetes prevention and control.
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Key Opportunities in Global Blood Ketone Test Meter Market
- Incorporation of multiple functional tools in devices, technological advancements, and rise in diabetes-related complications have led to the introduction of several new and innovative products for use in the monitoring of ketones. These innovations have also resulted in the development of devices with multi-functional tools to perform different functions for diagnosis and monitoring of Type 1 diabetes.
- Key players operating in the global blood ketone test meter market are focusing on technological advancements in devices. Manufacturing of multi-functional devices and different body function monitoring devices can lead to a rise in functional utility of devices. Investments in R&D is being considered as an opportunity by key players to design multi-functional devices and boost the rate of adoption of innovative health care diagnostic tools.
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Key Players Operating in Global Market
Major players operating in the global blood ketone test meter market are:
- Abbott
- KETO-MOJO
- ForaCare Inc.
- Bruno Pharma
- Care Touch
- GlucoRx
- Nova Diabetes Care
- Trividia Health, Inc.
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