[COVID-19] Blood Ketone Meter Market 2021: Industry Scope Abbott Laboratories, ACON Laboratories, Nipro Corporation

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.

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Market Dynamics

Increasing incidence of diabetes coupled with rising 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 July 2018, Nova Biomedical received 510 (k) U.S.FDA clearance for its StatStrip glucose/ketone hospital meter system, the first finger-stick capillary testing meter for critically ill patients with and without diabetes. The device can be used with arterial, venous or capillary specimens from all patients including critically ill patients.

The demand for blood ketone meter is increasing during the COVID-19 pandemic, as it is observed that both type 1 and type 2 diabetes patients are at high risk of being in contact with the COVID-19 infection. For instance, according to Primary Care Diabetes Society data of February 2020, during this COVID-19 pandemic, ketone monitoring must not be postponed as people with pre-existing medical conditions such as diabetes, asthma, and heart disease are at high risk of COVID-19 infection. Thus, the demand for blood ketone meters is increasing, as the blood ketone levels need to be monitored in every 4 to 6 hours.

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Detailed Segmentation:

Global Blood Ketone Meter Market, By Product Type:
Only Blood Ketone Monitoring
Blood Glucose and Ketone Monitoring
Consumables
Global Blood Ketone Meter Market, By Application:
Human
Veterinary
Global Blood Ketone Meter Market, By End User:
Hospitals
Diagnostic Centers
Ambulatory Surgical Centers
Home Care Settings
Veterinary Hospitals and Clinics
Others

Key players operating in the global blood ketone meter market include Abbott Laboratories, ACON Laboratories Inc., Nipro Corporation, Keto-Mojo, PortaCheck Inc., Nova Biomedical, GlucoRx Limited, EKF Diagnostics Holdings Plc, Taidoc Technology Corporation, ForaCare Inc., Bruno MD, and Apex Biotechnology Corporation.

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