The global blood ketone meter market was valued at USD 0.27 bn in 2020, however growing at a CAGR of 6.8% from 2020 to 2028, it is estimated to reach USD 0.50bn.
The market is driven by factors such as the growing geriatric population, increasing prevalence of diabetes and obesity, the rising importance of non-invasive monitoring of blood ketone levels and technological developments in the field of medical devices.
Researchmoz shares a comprehensive analysis of the market, with estimations from 2020 to 2028. It also highlights the technological advancements and new product launches of major players operating in the blood ketone meter market during the forecast period, including threats and opportunities in the market.
The Surge in Diabetes Cases to Boost Sales of Ketone Meter
The growing prevalence of diabetes across the globe and lifestyle diseases are fuelling the growth of the global blood ketone meter market over the forecast period. Further, increasing investment in research and development in the area of ketone meters is expected to boost sales of the ketone market during the forecast period.
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Growing Awareness to Strengthen the Blood Ketone Meter Market
The main factor driving the demand for these meters is the increasing awareness among diabetics about the importance of keeping their sugar levels and ketoacidosis checked. Increasing funding by government agencies for research and development (R&D), and the growing geriatric population are some of the key factors fueling the market growth over the forecast period.
However, the high cost of blood ketone meters is expected to restrain the growth of the market in the near future.
Nonetheless, the rising demand for ketone meters from the pharmaceutical sector is anticipated to drive the global blood ketone meter market.