Lactate Meter Market (Product Type: Chargeable Lactate Meters and Battery-operated Lactate Meters) - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Lactate Meter market was valued at USD 200.8 million in 2021 and it is expected to hit around USD 300.9 million by 2030 with a CAGR of 8.7% during the forecast period 2022 to 2030.

Blood lactate analysers, also known as blood lactate testing equipment, are machines that measure the amount of lactate in the blood. Blood lactate analyser is a diagnostic tool that uses a small drop of blood to quickly assess muscle performance. Lactate test is virtually painless, yet quick and accurate. Lactate level measurement is primarily used by athletes to monitor oxygen levels in the muscles and lactate levels in tissues. Blood lactate test is a reliable guide to safe and effective training for athletes. It helps an athlete avoid under or overtraining, which can lead to exhaustion.

Report Scope of the Lactate Meter Market

Rise in Prevalence of Metabolic Disorders to Drive Global Lactate Meter Market

Metabolic disorders, such as diabetes, are becoming increasingly common. This is likely to drive the demand for blood lactate testing equipment, which is used to monitor blood sugar levels and detect complications in an early stage. Increase in urbanization is expected to boost the demand for lactate testing devices in hospital settings and mobile devices that can be used at home. Demographics is also estimated to play a key role in market growth. According to the World Health Organization (WHO), there are more than 600 million diabetics across the globe. This number is likely to reach over 800 million by 2030. Rise in prevalence of other chronic diseases, such as cardiovascular diseases and cancer, is also driving the demand for efficient and advanced lactate meters such as Lactate Plus.

Increase in Awareness about Health and Fitness to Propel Global Lactate Meter Market

Rise in popularity of various sports across the world and increase in fitness awareness among the general population are projected to drive the global lactate meter market in the next few years. Surge in geriatric population across the globe is also propelling the demand for various sports medicine products such as blood lactate meters. Increase in interest of geriatric population in fitness and exercise to lower cholesterol levels, control diabetes & obesity, and increase life expectancy have led to a rise in the usage of various sports gear and equipment. This has augmented the demand for lactate meters.

The American College of Sports Medicine, the American Orthopedic Society for Sports Medicine, the European Federation of Sports Medicine Association, the Chinese Association of Sports Medicine, and the Asian Federation of Sports Medicine fund various sports medicine research projects. They also run educational programs and offer fellowships for advanced education in sports medicine. Portable lactate meters are becoming increasingly popular due to their small size and wireless data transfer technology. These devices can be linked to smartphones. They provide statistical analysis of the heart rate, glucose level, skin temperature, and posture.

Growth in Adoption of Battery-operated Lactate Meters for Accurate Results

The battery-operated lactate meters segment is projected to dominate the global market, accounting for more than 80% share by 2030. Battery-powered lactate meter uses photometric reflectance to measure lactate levels in capillary blood samples. It accurately determines the lactate level in patient's bloodstream by measuring the color change in the reagent pad after 60 seconds. Blood lactate meters are used in home care settings and long-term care services. These devices have the facility to save multiple measurements with date and time. Manufacturers are increasing their investment in R&D to introduce devices that use Bluetooth and cutting-edge software to send measurements to Android and iOS devices. Devices with stopwatches and countdown timers are preferred for performance measurement.

Regional Outlook of Global Lactate Meter Market

North America dominated the global lactate meter market in 2021. The market in the region is anticipated to grow at the fastest CAGR from 2022 to 2030. Growth of the lactate meter market in North America can be ascribed to advancements in sports medicine in the region. High prevalence of chronic diseases such as diabetes and hypertension is a major driver of the market in North America. Increase in demand for blood lactate testing equipment due to the rise in adoption of sports and fitness regime among the young and geriatric population is further propelling the market in North America. The market in the U.S. is anticipated to be driven by the presence of companies such as Nova Biomedical, EKF Diagnostics, ARKRAY, Inc., and ApexBio.

Some of the prominent players in the Lactate Meter Market include:

• ApexBio
• EKF Diagnostics
• Nova Biomedical
• Sensa Core Medical Instrumentation Pvt. Ltd.
• Arkray, Inc.
• BST Bio Sensor Technology
• TaiDoc Technology
• F. Hoffmann-La Roche Ltd.
• Other Prominent players

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Lactate Meter market

• Product Type
• Chargeable Lactate Meters
• Battery-operated Lactate Meters
• Application
• Sports Performance Monitoring
• Medical Intervention
• Others
• End-user
• Hospitals
• Clinics
• Home Care
• Long-term Care Services
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Lactate Meter industry analysis from 2022 to 2030 to identify the prevailing Lactate Meter industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Lactate Meter industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Lactate Meter industry trends, key players, market segments, application areas, and market growth strategies.