North America Lactate Meters Market Recent Developments Study Analysis

North America Lactate Meters Market: Introduction

According to the report, the lactate meters market in North America was valued at US$ 49.2 Mn in 2020 and is projected to expand at a CAGR of 7.4% from 2021 to 2031. Lactate meters are often used to measure the amount of lactate in the blood. Lactate is a byproduct of breakdown of glucose by muscles under aerobic condition. Until recently, lactate was believed to be just a waste product of glucose utilization that leads to soreness in the muscles after a strenuous exercise or sports activity. However, it has now been established that lactate is an important gluconeogenic precursor, which means that a considerable amount of glucose utilized during long hours of exercise is produced from recycling of lactate into glucose.

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However, as the amount, pace, or duration of physical activity increases, the quantity of lactic acid in the muscles increases at a faster rate than its utilization by the muscles to produce energy. This leads to increase in the level of lactate in the body and slowing down of the muscles. The point where the body is no longer able to continue the physical activity due to high level of lactate build up is called the lactate threshold.

In other words, lactate threshold or lactate inflection point (LIP) is the maximum effort or intensity at which a person (athlete) can perform or exercise without an exponential rise in the lactate levels. Lactate threshold is often used as a metric unit by athletes to assess their performance during prolonged periods of physical activities.

Rise in Awareness about Health and Fitness among General Population

Rise in popularity of various sports across the globe and increase in awareness about fitness among the general population are the major factors anticipated to drive the global lactate meters market. Surge in the global geriatric population boosts the demand for various sports medicine products, including lactate meters. Unprecedented increase in the geriatric population, rise in inclination among the population toward fitness and exercise in an attempt to reduce cholesterol levels and control diabetes & obesity, and overall surge in life expectancy have led to an increase in the usage of various sports gears and equipment.

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Sports medicine associations established across the globe boost the growth of the lactate meters market. Prominent associations and federations include the American College of Sports Medicine and the American Orthopedic Society for Sports Medicine. These associations support various research activities in sports medicine, conduct various education programs, and engage in providing fellowships for advanced education in sports medicine.

Battery-operated Lactate Meters to Lead North America Lactate Meters Market

In terms of type, the lactate meters market in North America has been bifurcated into chargeable lactate meters and battery-operated lactate meters. The battery-operated lactate meters segment accounted for 92% share of the market in the region in 2020. The segment is projected to reach US$ 107.2 Mn by 2031, expanding at a CAGR of 7.5% from 2021 to 2031.

The segment is anticipated to capture major market share during the forecast period due to increase in demand for large storage lactate meter from medium- and large-scale industries.

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Major Demand for Lactate Meters in Hospitals

Based on end-user, the lactate meters market in North America has been divided into hospitals, clinics, home care, long-term care services, and others. The hospitals segment accounted for 35.0% share of the market in 2020. The segment is projected to reach US$ 44.4 Mn by 2031, expanding at a CAGR of 8.3% from 2021 to 2031. Lactate measurement could contribute to the assessment of children admitted to hospital with febrile illness and can create an opportunity for more hospitals in resource-poor settings to participate in clinical trials of interventions to reduce mortality associated with hyperlactatemia.

Rise in Use of Lactate Meters for Sports Performance Monitoring

In terms of application, the lactate meters market in North America has been divided into sports performance monitoring, medical intervention, and others. The sports performance monitoring segment accounted for 48% share of the market in 2020. The segment is projected to reach US$ 59.6 Mn by 2031, expanding at a CAGR of 8.1% from 2021 to 2031. Rise in inclination of population toward sports and fitness to reduce cholesterol levels, control diabetes, and obesity drives the sports performance monitoring segment.

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U.S. to Lead North America Lactate Meters Market

In terms of country, the lactate meters market in North America has been segmented into the U.S. and Canada. The lactate meters market in the U.S. was valued at US$ 42.4 Mn in 2020 and is projected to reach US$ 100.2 Mn by 2031, expanding at a CAGR of 7.5% from 2021 to 2031. The market in the U.S. is anticipated to be driven by the presence of various companies such as Nova Biomedical, EKF Diagnostics, ARKRAY, Inc., and ApexBio. Increase in demand for lactate meters and rise in prevalence of chronic diseases such as diabetes and cholesterol are the other major factors driving the market in the country. According to the National Heart, Lung, and Blood Institute, anemia affects more than 3 million people in the U.S.

Competition Landscape

The lactate meters market in North America is fragmented due to the presence of a large number of leading players. Key players operating in the market include ApexBio, EKF Diagnostics, Nova Biomedical, Sensa Core Medical Instrumentation Pvt. Ltd., ARKRAY, Inc., BST Bio Sensor Technology, TaiDoc Technology, and F. Hoffmann-La Roche Ltd.

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