Ketones are produced by the body by breaking down fats, and the process is known as ketosis. The body produces ketones when there is an insufficient supply of sugar in the cells due to low level of insulin. Hence, the body starts breaking down fat to provide ketones as an alternative source of energy to sugar. Ketosis also leads to weight loss and other benefits such as appetite control and improves heart health by reducing cholesterol.
However, production of ketones in excessive amounts can cause ketoacidosis, a condition where the blood becomes acidic. Ketoacidosis commonly affects people with type 1 diabetes due to low insulin levels and is known as diabetic ketoacidosis (DKA). Hence, it is very important for people who are suffering from diabetes to monitor their ketone levels. Blood ketone meters are the devices used to measure the level of ketones present in the blood.
Global Blood Ketone Meter Market – Dynamics
Increasing incidence of diabetes coupled with growing cases of diabetic ketoacidosis due to diabetes are expected to drive the blood ketone meter market growth. For instance, according to the International Diabetes Federation report, 2019, around 463 million adults of age group 20 to 79 years were suffering from diabetes worldwide in 2019 and is estimated to reach 700 million by 2045. According to the Centers for Disease Control and Prevention (CDC), March 2018, around 30 per 1,000 patients, were hospitalized due to diabetic ketoacidosis in the U.S. during 2009 to 2014.
Moreover, several launches and approvals of new blood ketone meters are also expected to boost growth of the blood ketone meter market over the forecast period. For instance, in January 2019, Apex Biotechnology Corp received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for KetoCoach Blood Ketone Monitoring System, a device used to measure the ketone levels in the blood.
Global Blood Ketone Meter Market – Regional Insights
North America is expected to hold the dominant position in 2018, in the global blood ketone meter market due to various mergers, agreements, and acquisitions by key players in the region. For instance, in March 2019, Keto Mojo, a blood glucose and ketone testing meters manufacturing company, entered into a collaboration with Heads Up Health—a software company for personal health data analytics—in order to develop Keto-Mojo App which can be synced with the ketone meter. The integration will help users to keep a constant check on their health profile.
Moreover, increasing launches and approvals of new ketone meters for veterinary applications is expected to propel the blood ketone market growth over the forecast period. For instance, in July 2016, ACON Laboratories, Inc. launched CentriVet GK Blood Glucose & Ketone Monitoring System which is designed for veterinary use. The veterinary clinics, emergency animal hospitals, farms, and animal caregivers can use the CentriVet GK Blood Glucose & Ketone Monitoring System to check the blood ketone and blood glucose levels in animals.
Global Blood Ketone Meter Market – Competitive Landscape
Key players operating in the global blood ketone meter market include Biosense, PortaCheck Inc., Apex Biotechnology Corp, Abbott Laboratories, Taidoc Technology Corporation, Stanbio Laboratory, L.P, ACON Laboratories, Inc., and EKF Diagnostics.
Global Blood Ketone Meter Market – Taxonomy
On the basis of application, the global blood ketone meter market is segmented into:
On the basis of distribution channel, the global blood ketone meter market is segmented into:
- Hospital Pharmacies
- Retail Pharmacies
On the basis of region, the global blood ketone meter market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East