Beta-Hydroxybutyrate Testing Market: Overview
Beta-hydroxybutyrate testing is used as the mainstay in the diagnosis of diabetic ketoacidosis and other ketonic states. Strides in assays have led to the testing modalities being remarkable precise and of high analytical performance. Routine urine laboratory analysis is used to confirm the condition. The testing is used in diagnosis and monitoring of ketoacidotic conditions. Ketoacidosis is a life threatening condition that needs immediate medical treatment, especially in diabetic patients.
Over the years, point of care testing (POCT) is also used in the making of beta-hydroxybutyrate testing and has underpinned a new avenue in the market. As sodium glucose cotransporter 2 (SGLT2) inhibitors are increasingly used in treating diabetes 2, euglycemic diabetic ketoacidosis has become a high safety concern for patients. Hence, beta-hydroxybutyrate testing is increasingly used in such diagnostic blind spots. Some of the key product types are meter sensor systems, kits, and test strips. Apart from the use of these tests in diabetic Ketoacidosis, they are also used in alcoholic ketoacidosis. Key end users are hospitals, clinics, diagnostic laboratories, and home care settings.
Beta-Hydroxybutyrate Testing Market: Key Trends
The study on the beta-hydroxybutyrate testing market offers a comprehensive insights and data-driven analysis of key clinical trends, epidemiology of the disease, share and size of top players, and new avenues.
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Growing worldwide prevalence of diabetes and diabetes-related complications is a key factor boosting the beta-hydroxybutyrate testing market. Rising number of hyperglycemic patients has elevated the risk for diabetic ketoacidosis (DKA). Advances in quantification of ketone bodies in lab framework in developing economies have also boosted the expansion of the beta-hydroxybutyrate testing market.
Beta-Hydroxybutyrate Testing Market: Competitive Analysis and Key Developments
A growing number of validation studies that have aimed at assessing the efficacy of quantitative βOHB assay has paved way to new avenues in the assays the beta-hydroxybutyrate testing market. A case in point is Ranbut βOHB assay on a recent Roche analyzer product. A growing number of players are leaning on unveiling technologies that offer more precise and reliable detection for ketosis. Several players are leaning on offering on-site POCT analysers.
In recent years, ketosis management for diabetics in pediatrics, especially in Type 1 diabetes, has attracted the attention of stakeholders in the beta-hydroxybutyrate testing market. Top players are also keen on improving the precision of assays by making substantial improvements in the methods used. Several players are constantly bring technological advancements by ramping up their investments in improving the detection rate of urinary and blood ketone detection. Some of them have also reduced the cost of commercial point-of-care β-hydroxybutyrate measurement devices, thereby increasing the accessibility, thus gaining a better foothold in the beta-hydroxybutyrate testing market. Most players have been keen on opening new diagnostic approach to hyperglycemic patients in a bid to stay ahead of others.
Some of the top players engaged in such strategies and gain shares in the beta-hydroxybutyrate testing market are BioAssay Systems, AAT Bioquest, Inc, Quest Diagnostics, Cayman Chemical, Randox Laboratories Ltd., Merck KGaA, Abcam plc, and EKF Diagnostics.
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Beta-Hydroxybutyrate Testing Market: Regional Assessment
Some of the key regional segments in the beta-hydroxybutyrate testing market are North America, Europe, the Middle East, Latin America, and Middle East and Africa. Of these, North America has been increasing dynamic and attractive market for the past several years. Increasing incidence of diabetic ketoacidosis (DKA) and its complications in the region are bolstering the generation of opportunities in the regional market. A growing body of validation studies and constant technological advancements in the commercial assays are key to the growth avenues in the North America beta-hydroxybutyrate testing market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.