Blood Ketone Meter Market Expected to Expand by Top Players: Abbott Laboratories, ACON Laboratories Inc., Nipro Corporation, Keto-Mojo, PortaCheck Inc., Nova Biomedical, GlucoRx Limited
SEATTLE, May 05, 2021, (PHARMIWEB) —
The production of ketones in excessive amounts can cause ketoacidosis, a condition where the blood becomes acidic. Diabetic ketoacidosis (DKA) is a serious complication of type 1 diabetes and much less common in type 2 diabetes. Hence, it is very important for people who are suffering from diabetes to monitor their ketone levels. Blood ketone meter is a device used to measure the level of ketones present in the blood. The most accurate way of testing for ketones is to use a meter that measures blood ketone levels. The blood glucose meters are able to test blood ketone levels in addition to blood glucose levels.
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Impact of COVID-19 Pandemic
COVID-19’s accelerated spread across the globe is posing a challenge to healthcare services around the world in terms of planning, technology, and investment. With insufficient access to breathing facilities, trained intensive care nurses, or protective medical monitoring systems, healthcare workers are expected to handle chronically sick patients. Since December 2019, a novel coronavirus has spread across China and the rest of the world, resulting in a rapid rise in reported cases. The manifestation of the coronavirus disease (COVID-19) has resulted in more than 35 million infected individuals worldwide as of September 2020, as per the World Health Organization Coronavirus Disease (COVID-19) Dashboard (WHO) survey. Furthermore, blood ketone meters are an effective instrument in diabetes care since they are used to measure ketone levels in the blood in diabetic patients. Ketoacidosis (ketone buildup in the blood, which can lead to diabetic coma and even death) is a disease caused by low insulin levels (particularly in type 1 diabetic patients).
The rising prevalence of product approvals and releases, clinical trials, and alliance and alliance strategies employed by key players are expected to propel growth of the global blood ketone meter market over the forecast period.
The regulatory approvals of advanced blood ketone meters are projected to contribute significantly to the growth of the global blood ketone meter market. AmVentureX, Inc. reported in January 2019 that the KetoCoach Blood Ketone Monitoring System has obtained FDA approval in the U.S. This ketone meter uses auto-coding technology which requires the least volume of blood sample of any ketone test currently available. Strips for the KetoCoach Blood Ketone Monitoring System launch at US$ 0.59, making it 40 percent less expensive than any other ketone test meter currently on the market.
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Increased product launches of blood ketone meters are being driven by product approvals, which is expected to push the blood ketone meter demand forward over the forecast period. Nova Biomedical released a new version of the Stat EMS Basic blood monitoring system for ambulance and emergency services in European countries (CE mark countries) in April 2020. Stat EMS Basic provides laboratory-quality results in six to 40 seconds for finger-stick capillary lactate, leptin, ketone, hemoglobin, and hematocrit.
The global blood ketone meter market is projected to expand due to the increasing acceptance of inorganic growth strategies such as alliances and partnerships by major companies. ForaCare Suisse AG announced a service-oriented alliance with B. Braun in January 2019, with initial plans to introduce a new glucose and ketone monitoring device. The FORA Advanced pro GD40 Multi-Functional Monitoring System is a one-stop shop for blood glucose checking and results. The firms plan to collaborate on additional offerings such as telehealth and self-care.
Key companies contributing in the global blood ketone meter market are GlucoRx Limited, EKF Nova Biomedical, Keto-Mojo, Abbott Laboratories, Apex Biotechnology Corporation, Bruno MD, ForaCare Inc., ACON Laboratories Inc., Nipro Corporation, PortaCheck Inc., Taidoc Technology Corporation, and Diagnostics Holdings Plc.
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By Product Type:
- Only Blood Ketone Monitoring
- Blood Glucose and Ketone Monitoring
By End User:
- Diagnostic Centers
- Ambulatory Surgical Centers
- Home Care Settings
- Veterinary Hospitals and Clinics
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