by Blood ketone meters allow users to measure the concentration of ketones in their blood through a small drop of blood, usually taken from the finger. These devices are compact, portable and deliver real-time measurements that enable monitoring of ketone levels for management of conditions like diabetes. The meters use electrode strips onto which blood sample is placed, which gives a reading within seconds.
The Global Blood Ketone Meter Market is estimated to be valued at US$ 10.9 Mn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024-2031.
Key players operating in the Australia Blood Ketone Meter Market are Abbott, ACON Laboratories Inc., Nipro Corporation, Keto-Mojo, PortaCheck Inc., Nova Biomedical, GlucoRx Limited, EKF Diagnostics Holdings Plc., Taidoc Technology Corporation, and Apex Biotechnology Corporation. The growing prevalence of diabetes and popularity of the ketogenic diet is driving demand for blood ketone meters in Australia. Additionally, technological advancements have led to the development of smart, app-connected digital meters that allow wireless transmission of results and are more convenient to use.
Key Takeaways
Key players operating in the Australia Blood Ketone Meter market are focusing on launching innovative digital meters with connectivity features. For instance, Abbott launched the FreeStyle Libre 2 digital glucose meter that eliminates the need for finger pricking.
The growing diabetic population and adoption of the ketogenic diet has fuelled demand for personal ketone monitoring devices in Australia. Furthermore, healthcare providers are recommending ketone monitoring for management of conditions like epilepsy and weight loss.
Major players are expanding their geographical presence and product portfolios through partnerships and mergers & acquisitions to strengthen their foothold in the lucrative Australian market. For example, Nipro Corporation offers a wide range of blood glucose monitoring devices across Australia.
Market Key Trends
One of the key trends gaining traction in the Australia Blood Ketone Meter Market is the rising popularity of Bluetooth and wifi-enabled smart digital meters. These smart meters allow automated transfer of results to companion mobile apps for effortless tracking of ketone levels. Key players are focusing on integrating Internet of Things (IoT) and artificial intelligence into their product offerings to make ketone monitoring more convenient.
Porter’s Analysis
Threat of new entrants: High capital requirements and economies of scale in production pose challenges for new entrants in the blood ketone meter market.
Bargaining power of buyers: Buyers have medium bargaining power. Alternatives are available from different brands.
Bargaining power of suppliers: Suppliers of raw materials have medium bargaining power as supply chains are well established and costs are steady.
Threat of new substitutes: Threat of substitutes is low as blood ketone meters have advantages over other diagnostic methods.
Competitive rivalry: Competition is fierce between the Top 3 players that dominate the market.
Geographical Regions
The Australian blood ketone meter market is concentrated in the densely populated southeast and eastern regions like New South Wales, Victoria, and Queensland. These states account for over 70% of the national market value due to higher disease prevalence and availability of advanced healthcare facilities.
The fastest growing region for the Australian blood ketone meter market is Western Australia driven by increasing awareness, growing geriatric population susceptible to diabetes, and adoption of self-monitoring practices. Favorable government initiatives to expand healthcare access are also contributing to double-digit market growth in this region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
What Are The Key Data Covered In This Australia Blood Ketone Meter Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Australia Blood Ketone Meter ‘s growth between 2024 and 2031.
:- Accurate calculation of the size of the Australia Blood Ketone Meter and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Australia Blood Ketone Meter Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Australia Blood Ketone Meter vendors
FAQ’s
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About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn
