; B-Ketone Monitoring System Market Size, Share, Forecast[2032]

B-Ketone Monitoring System Market

B-Ketone Monitoring System Market: By Product Type (Disposable, Reusable, Other), By End User (Hospital, Homecare, Diagnostic Laboratories, Special Clinics), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032

Published on: May-2023
Report Code: FG HC 01549
No. of Pages: 170-350
Report Format: PDF

Product Overview

Global B-Ketone Monitoring System market is expected to exceed beyond USD 637.1 million by 2032 from USD 308.23 million in 2021 growing with a CAGR of 6.8% in the forecast period, i.e., 2022-2032.

Blood Ketone Monitoring Systems are used for monitoring the levels of ketones in the blood. Ketones are chemicals produced in the liver and are produced due to insufficient secretion of insulin in body which assists in modification of sugar into energy. So, the body fat is used by liver for conversion into ketones which are sent into bloodstream. An increase in diabetes-related complications has resulted in the innovation of novel products to monitor the levels of ketone and glucose. Ketones in blood test is done for identifying the diabetic ketoacidosis (DKA) in people having diabetes. DKA can affect diabetic people most commonly with type 1 diabetes.

Market Highlights

Global B-Ketone Monitoring System Market is expected o prject a notable CAGR of 6.8% in 2032

Global B-Ketone Monitoring System market is expected to exceed beyond USD 637.1 million by 2032 from USD 308.23 million in 2021 growing with a CAGR of 6.8% in the forecast period, i.e., 2022-2032 owing to the rising investments in research and development to design multi-functional B-Ketone Monitoring Systems by the key players which is expected to dominate the Global B-Ketone Monitoring System market growth over the forecast period. A blood ketone test can be done for diabetic patient when sick or if pregnant. The market is also expected to dominate as the patients are more aware of knowing the blood parameters and in turn, it helps to maintain healthy living.

Global B-Ketone Monitoring System Market: Segments

Reusable segment is expected to dominate during the forecast period

Global B-Ketone Monitoring System market is classified based on the Product Type into Disposable, Reusable, Other. Reusable segment is dominating the market and is also expected to dominate with the largest market share in the forecast period owing to the rising utilization of B-Ketone Monitoring kits and strips in the market as they can be reused by changing only the test strips. The cost involved in using the reusable type monitoring systems is less, hence the Reusable segment is expected to dominate the Global B-Ketone Monitoring System market.

Homecare segment is expected to dominate during the forecast period

Global B-Ketone Monitoring System market is classified based on the End User into Hospital, Homecare, Diagnostic Laboratories, Special Clinics. Hospitals segment had the largest share owing to the high admissions of patients in hospitals due to the pandemic and Homecare segment is expected to dominate the Global B-Ketone Monitoring System market in the forecast period owing to the increasing necessity of the monitoring systems in the home purpose as the cost of testing at hospitals or diagnostic centers may be high which won’t be affordable. Hence, the homecare segment is expected to dominate over the forecast period.

Market Dynamics                                                      

Growth Drivers

Increasing prevalence of diabetes is expected to boost the growth of the market

Growing diabetes is the major factor responsible for the growth of B-Ketone Monitoring System market over the forecast period. The lifestyle modifications of the people are resulting in increasing prevalence of diabetes which will have a positive impact on the growth of B-Ketone Monitoring System market. The rising awareness in people about the maintenance of personal health has resulted in the growth of B-Ketone Monitoring System market.

Growing user-friendly B-Ketone Monitoring Systems is expected to boost the market growth

Several user-friendly B-Ketone Monitoring System are available in the market which can be used conveniently at home and is expected to boost the growth of the B-Ketone Monitoring System market over the forecast period. Blood ketone meters are also useful for maintaining ketogenic diet and to verify the state of ketosis in home use kits. Increasing government expenditure on healthcare in developing countries, is expected to accelerate the Global B-Ketone Monitoring Systems market growth.

Restraint

High Cost of the monitoring system may hamper the market growth

Also, the chances of error is much higher in B-Ketone Monitoring System which may also decease the patient preference to use B-Ketone Monitoring System for glucose and blood ketone monitoring. B-Ketone Monitoring System is expensive and people prefer visiting hospitals for the blood ketone test rather that home use which may hamper the growth of B-Ketone Monitoring System market. The occurrence of errors may be high which result in restraining the market growth.

Global B-Ketone Monitoring System Market:

Key Players

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Global B-Ketone Monitoring System Market: Regions

Global B-Ketone Monitoring System market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is dominating the market and is also expected to dominate even in the forecast period owing to the high acceptance of B-Ketone Monitoring System in the countries of that region. Due to the high awareness about personal health and fitness in the people, the market is expected to grow even in the forecast period. Increasing incidence of diabetes and the government initiatives in that region to monitor glucose and ketone are estimated to boost the market growth

Impact of Covid-19 on Global B-Ketone Monitoring System Market

Covid-19 had unexpected effects on all the economies across world. The global outbreak led to decline in the growth of many sectors and shutdown of many industries. However, medical healthcare sector was one of the least affected sectors in the world, as healthcare activities had continued with constant demand and as people with diabetes were more prone to attack by diseases the utilization of the monitoring systems had increased during the pandemic period. Global B-Ketone Monitoring System Market was positively impact due to the pandemic and had positive impact on the growth of the market.

Global B-Ketone Monitoring System market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global B-Ketone Monitoring System report also contains analysis on:

Global B-Ketone Monitoring System Segments:

  • By Product Type
    • Disposable
    • Reusable
    • Others
  • By End User
    • Hospital
    • Homecare
    • Diagnostic Laboratories
    • Special Clinics
  • Global B-Ketone Monitoring System Market Dynamics
  • Global B-Ketone Monitoring System Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints

Global B-Ketone Monitoring System Market Report Scope and Segmentation

Report Attribute

Details

Market size value in 2021

USD 308.23 million

Revenue forecast in 2032

USD 637.1 million

Growth Rate

CAGR of 6.8% from 2022 to 2032

Base year for estimation

2021

Quantitative units

Revenue in USD million and CAGR from 2022 to 2032

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product Type, End User, and Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Key companies profiled

Vidan Diagnostics, Abbott, EKF Diagnostics, Leap Medical, KETO-MOJO, Sentest Medical, ACON Laboratories, Inc.,  TaiDoc Technology, Nova Biomedical, Ubric Acid LLC and Other Prominent Players

 

Frequently Asked Questions (FAQ):

Global B-Ketone Monitoring System market size was estimated at USD 308.23 million in 2021 and is expected to reach USD 637.1 million in 2032.

Blood Ketone Monitoring Systems are used for monitoring the levels of ketones in the blood. Ketones are chemicals produced in the liver and are produced due to insufficient secretion of insulin in body which assists in modification of sugar into energy. So, the body fat is used by liver for conversion into ketones which are sent into bloodstream

Reusable and Homecare segment accounted for the largest Global B-Ketone Monitoring System market share.

Key players: Vidan Diagnostics, Abbott, EKF Diagnostics, Leap Medical, KETO-MOJO, Sentest Medical, TaiDoc Technology, ACON Laboratories, Inc., Nova Biomedical, Ubric Acid LLC and Other Prominent Players are the key players in the Global B-Ketone Monitoring System market.

Increasing prevalence of diabetes and Growing user-friendly B-Ketone Monitoring Systems are the factors driving the Global B-Ketone Monitoring System market.

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