Global Blood Ketone Meter Market to Surpass US$ 486.3 Million by 2027, Says Coherent Market Insights (CMI)
According to Coherent Market Insights, the global blood ketone meter market is estimated to be valued at US$ 301.7 million in 2020 and is expected to exhibit a CAGR of 7.1% during the forecast period (2020-2027).
Key Trends and Analysis of the market:
The increasing number of product launches is expected to drive growth of the blood ketone meter market during the forecast period. For instance, in March 2020, EKF Diagnostics, the global in vitro diagnostics company, announced the launch of the U.S. FDA CLIA-waived β-ketone and glucose POC analyzer STAT-Site WB Analyzer in the U.S. market. This device is a new addition to its diabetes care portfolio in the U.S. The STAT-Site WB is a dual-use whole blood β-ketone and glucose meter for professional use in the management of diabetes.
Key manufacturers operating in the blood ketone meter market are engaged in developing more advanced products for the ease of diabetes patients. For instance, blood glucose & ketone testing meter by Foracare Inc., called FORA 6 Gtel, is a device that comes with 3G/4G connectivity. It can seamlessly transfer data to a TeleHealth System without the need for pairing it with a smartphone. With 5-Electrode Technology and strips made with gold, FORA 6 test strips ensure high accuracy and precision. It measures six parameters such as glucose, hematocrit, hemoglobin, β-ketone, total cholesterol, and uric acid in blood.
The global blood ketone meter market is expected to witness significant growth, owing to increasing partnerships and collaborations. For instance, in February 2020, the global diabetes nonprofit Beyond Type 1 announced a new collaboration with the National Association of School Nurses to create awareness about the warning signs of type 1 diabetes (T1D). With this new collaboration, awareness materials will be distributed to tens of thousands of school nurses nationally in the U.S. Moreover, Beyond Type 1 advocates will be enhancing efforts in ten target states: Arkansas, Connecticut, Florida, Massachusetts, New Jersey, North Carolina, Ohio, Oklahoma, Pennsylvania, and Texas.
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Key Market Takeaways:
The global blood ketone meter market is expected to exhibit a CAGR of 7.1% during the forecast period (2020-2027), owing to the rising prevalence of type 1 diabetes worldwide. For instance, according to the National Diabetes Statistics Report by Centers for Disease Control and Prevention of 2017, around 1.25 million Americans suffered from type 1 diabetes and over 300,000 Canadians lived with type 1 diabetes in 2017. Furthermore, as per the same source, over 100,000 children in India and 50,000 children and adolescents in China were living with type 1 diabetes as of 2017.
Key players in the North America blood ketone meter market are focused on launching new products, which is expected to drive growth of the market during the forecast period. For instance, in March 2020, EKF Diagnostics launched the STAT-Site WB, a blood β-ketone and glucose meter in the U.S. The device is used for measuring ketone and for the management of diabetes.
Global Monoclonal Antibodies Market to Surpass US$ 368.8 Billion by 2027, Says Coherent Market Insights (CMI)
According to Coherent Market Insights, the global monoclonal antibodies market is estimated to be valued at US$ 143.5 billion in 2020 and is expected to exhibit a CAGR of 14.4% over the forecast period (2020-2027).
Key Trends and Analysis of the Global Monoclonal antibodies Market:
Key trends in the market include increasing prevalence of cancer, rising regulatory approvals and launch of therapies, increasing research collaborations for the development of robust drugs pipeline, and adoption of collaboration strategies by the companies.
Rising incidence of cancer is expected to increase demand for infusion therapies, thereby contributing to significant growth of the monoclonal antibodies market. For instance, according to the World Cancer Research Fund International’s report, in 2018, breast cancer accounted for the second highest number of cancer cases worldwide, accounting for 2,088,849 new cases worldwide in 2018.
Moreover, increasing research collaborations for the development of robust drugs pipeline is a major factor that is expected to drive the market growth over the forecast period. Success of popular monoclonal antibodies such as Avastin, Herceptin, and Rituxan (revenue as US$ 6.8 Bn, US$ 7.1 Bn, and US$ 5.9 Bn, respectively in 2017 globally) has spurred manufacturers’ interest in these therapies. For instance, in 2018, Novartis AG announced entering into a partnership with MorphoSys and Galapagos for the commercialization and development of human immunoglobulin G1 (IgG1) monoclonal antibody targeting interleukin (IL)-17C.
Rising number of product approvals is expected to drive the market growth. For instance, in March 2019, AbbVie announced receiving approval for SKYRIZI (risankizumab) from Japanese Ministry of Health, Labour and Welfare (MHLW). Also, in March 2019, the U.S. FDA approved Trazimera (trastuzumab-gyyp) for the treatment of metastatic gastric adenocarcinoma and HER2 positive breast cancer.
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Key Market Takeaways:
The global monoclonal antibodies market is expected to exhibit a CAGR of 14.4% over the forecast period, owing to adoption of collaboration strategy by the market players, which is expected to drive the market growth. For instance, in July 2020, UCB announced a license agreement with Roche and Genentech for the development and commercialization of UCB0107, an investigational monoclonal antibody drug, which is a potential treatment for patients with progressive supranuclear palsy (PSP) and Alzheimer’s disease.
An increasing number of government initiatives and funding for clinical trials of drugs, which can be used in the Covid-19 treatment, is projected to favor the market growth. For instance, in March 2020, the World Health Organization launched the ‘Solidarity’ trial, which is a multinational initiative for testing old and new drugs/therapies for treating Covid-19. The trial includes testing four therapies; remdesivir, chloroquine and hydroxychloroquine, lopinavir and ritonavir, lopinavir with ritonavir and interferon-beta.
Key players operating in the global monoclonal antibodies market include Pfizer Inc., Novartis AG, Bayer AG, Sanofi S.A., F. Hoffmann-La Roche AG, Eli Lilly and Co., Merck & Co., Inc., GlaxoSmithKline Plc., AbbVie Inc., Bristol-Myers Squibb, and Regeneron Pharmaceuticals Inc.
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Global Monoclonal Antibodies Market, By Source: