North America Lactate Meters Market to Reach US$ 115.2 Mn by 2031, Says TMR Study

- Product innovations wherein portable lactate meters that feature miniaturization and wireless data transfer technology, and can be synchronized with smartphones stir growth in North America lactate meters market

- Need to comprehend lactate threshold in the body, especially for athletes to assess their performance during long periods of physical activities, creates demand

News provided by

Transparency Market Research

Feb 03, 2022, 09:30 ET

ALBANY, N.Y., Feb. 3, 2022 /PRNewswire/ -- The North America lactate meters market is estimated to expand at a CAGR of 7.4% from 2021 to 2031. Substantial advancement in sports medicine in the region that is rendered via hospitals, clinics, home care, and remote care fuels the growth of the lactate meters market.

The significance to monitor lactate levels in the blood that could lead to reduced oxygen level and minimize breathing, and could further cause sepsis, low blood count, heart attack, and severe lung disorders stirs the adoption of lactate meters. Growth curve of the lactate meters market is also influenced by the prevalence of chronic diseases such as diabetes and heart diseases that require lactate monitoring. According to the National Heart, Lung, and Blood Institute, in the U.S., anemia impacts the lives of more than 3 million individuals that requires measure of lactate in the blood.

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The role of product manufacturers to engage in R&D to develop lactate meters that are superior than predecessor ones favors the growth of lactate meters market. For instance, insufficient amount of blood in test sample can result in false readings. In order to address this, manufacturers are undertaking research and development to design lactate meters that can measure lactic acid with a small blood droplet. Med-tech companies also play a role to increase awareness about false readings via product manuals to improve medical outcomes and improve patient life quality.

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North America Lactate Meters Market – Key Findings of Report

Increasing demand for portable lactate meters is leading to elevated efforts from product manufacturers to increase the availability of these devices. Portable lactate meters are increasingly being used in place of complex devices that require large sample volumes and have long analysis time. The growing popularity of portable lactate meter StatStrip from U.S.–based Nova Biomedical with a turnaround time of only few seconds is a case in point.
Integration of next-gen communication technologies and software applications with lactate meters is creating sales opportunities in the lactate meters market. Manufacturers are focused on R&D for product innovation that can transmit readings to iOS and Android devices via Bluetooth and other advanced communication technologies. Lactate meters with stopwatch and countdown timekeepers to measure performance of athletes are some other desired features that product manufacturers are engaged in.
Battery-operated lactate meter is anticipated to capture major share of the North America lactate meters market over the forecast period
Sports performance monitoring application segment held a significant market share of 48% in 2020. Rising participation in sports and fitness activities to stay healthy and prevent diseases fuels the growth of sports performance monitoring segment.

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North America Lactate Meters Market – Growth Drivers

Extensive use by sports athletes to monitor oxygen levels in muscles and lactate concentration in tissues that enables trainers and doctors to gauge the efficacy of workout and treatment, respectively, drives the lactate meter market
Easy-to-use and cost-effectiveness of lactate analysis underscores growth of the lactate meters market
Role of sports medicine associations such as the American Orthopedic Society for Sports Medicine and American College of Sports Medicine to conduct education programs, support research in sports medicine, and provide fellowships for advanced education in sports medicine fuels the growth of the lactate meters market

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North America Lactate Meters Market – Key Players

Some of the key players operating in the North America lactate meters market are;

ApexBio
Nova Biomedical
Medical Instrumentation Pvt. Ltd.
BST Bio Sensor Technology
F. Hoffmann-La Roche Ltd.
EKF Diagnostics
Sensa Core Medical Instrumentation Pvt. Ltd.
ARKAY Inc.
TaiDoc Technology

The North America lactate meters market is segmented as follows;

North America Lactate Meters Market, by Product Type

Chargeable Lactate Meters
Battery-operated Lactate Meters

North America Lactate Meters Market, by Application

Sports Performance Monitoring
Medical Intervention
Others

North America Lactate Meters Market, by End-user

Hospitals
Clinics
Home Care
Long-term Care Services
Others

North America Lactate Meters Market, by Country

U.S.
Canada

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