Report Code: CMI19061

Published Date: October 2022

Pages: 220+

Category: Healthcare

Report Snapshot

CAGR: 43.6%
42.6M
2021
200.10M
2022
816.8M
2030

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Abbott Laboratories
  • Trinity Biotech
  • Cardinal Health
  • Cepheid
  • Others

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Reports Description

According to Custom Market Insights (CMI), The Global Home Potassium Monitoring Devices Market size was estimated at USD 42.6 million in 2021 and is expected to hit around USD 816.8 million by 2030, poised to grow at a compound annual growth rate (CAGR) of 43.6% from 2023 to 2030.

Monitoring devices for potassium are used to track or examine potassium levels in people. In the realm of medical science, these devices are crucial. This level gets tested to ascertain whether potassium levels are within the normal range; as a component of a metabolic or electrolyte panel to help identify and treat an electrolyte imbalance, one should keep an eye on the therapy for conditions that can result in the body’s potassium levels being abnormal. An electrolyte that is essential to cell metabolism is potassium. It facilitates the movement of nutrients into cells and removes waste from cells.

Additionally, it aids in the communication between neurons and muscles, which is crucial for proper muscular function. These devices determine the potassium level in the blood and urine. Electrolytes are minerals that have a charge and are found in your body’s fluids. Potassium and other electrolytes like sodium, chloride, and bicarbonate (total CO2) assist in controlling the body’s fluid balance and preserving a steady acid-base equilibrium. All bodily fluids include potassium, although most of it is contained in cells. Very little is present in the liquid portion of the blood and fluids outside the cells.

Due to the low potassium content in blood, even slight alterations can significantly impact health. Potassium levels that are too low or too high can affect how the nerves and muscles work, leading to significant health issues, including shock, respiratory failure, irregular heartbeats, or even the heart muscle losing its ability to contract things. Measurement of potassium as part of an electrolyte or metabolic panel may aid in diagnosing an acidosis, alkalosis, or electrolyte imbalance. The abnormal states induced by an excess of acid or alkali that causes a pH imbalance in the blood are acidosis and alkalosis (base). An underlying illness or condition often brings on this imbalance.

Growth Factors.

The need for potassium monitoring technology has grown as chronic renal disease has become more common. These devices have made it simpler to identify ailments to control the disease. For example, hyperkalemia may happen if the kidneys are not working adequately. The kidneys’ job is to balance the potassium taken in and the potassium excreted in the urine.

The foods and drinks that people consume provide them with potassium. After being filtered by the kidneys, it is eliminated through urine. The kidneys typically make up for high potassium levels in the early stages of renal illness. However, kidneys might be unable to eradicate enough potassium from the body if their health deteriorates. Advanced renal disease commonly causes hyperkalemia. Therefore, eating too many potassium-rich foods can potentially cause hyperkalemia, especially in people with severe renal impairment.

Other foods high in potassium include orange juice, cantaloupe, honeydew melon, bananas, and orange juice. High-sugar, high-salt, and high-fat diets can raise your risk of contracting certain diseases. Eating healthfully can lower the risk of diabetes, heart disease, stroke, and other diseases. A healthy diet includes low-fat or fat-free dairy products, vegetables, fruits, whole grains, and dairy products.

It also includes lean meats, poultry, fish, beans, eggs, and nuts. Salt and additional sugars are likewise kept to a minimum, as are saturated and trans fats. Health monitoring tools like potassium monitoring to assess the risk of severity and possibilities of recovery are influenced by the lack of understanding about the foods people consume that create serious illnesses.

Chronic kidney disease (CKD) has recently been evident as having a negative influence on global health; estimates of its prevalence range from 8 to 16% globally, which might lead to millions of deaths annually. The fact that these instances are increasing yearly indicates that potassium, the leading cause of most chronic renal disorders, is driving up the demand for monitoring devices. 

The burden of non-communicable diseases (NCDs) and other risk factors are increasing the prevalence of chronic kidney disease (CKD) worldwide. Chronic renal illness affects 10% of adult individuals globally. Diabetes, hypertension, vascular disease, and glomerulonephritis are just a few conditions that can lead to chronic renal disease. Glomerulonephritis and interstitial nephritis, in addition to the causes above, account for most chronic kidney disease patients in low-income countries due to the high occurrence of infections. These factors are boosting the global market for potassium monitoring devices.

Home Potassium Monitoring Device Market Segmentation.

Home Potassium Monitoring Device Market, segmented based on the type

According to type, the desktop segment is in the lead and is anticipated to contribute most to the potassium monitoring devices market. Since desktops are typically utilized in hospitals, where the most cutting-edge equipment is favored, they can provide more accurate information from the most cutting-edge potassium monitoring devices. Therefore, the market for such potassium monitoring devices is expected to increase significantly since desktop monitoring is the only natural and effective form.

Whenever a person has a condition that might alter their heart rate and rhythm, a home or personal-use potassium monitoring device can be a helpful tool. A portable potassium monitoring device won’t be as precise as equipment used in a professional setting or at a hospital. These gadget arenas aren’t designed to perform routine medical treatment; instead, they’re supposed to improve the data that doctors can use to manage patients’ conditions. Hence, these devices are anticipated to grow significantly during the forecast period.

Global Home Potassium Monitoring Devices Market 2023 – 2032 (By Type)

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Home Potassium Monitoring Device Market, a segment based on Applications

The hospital category is anticipated to have the most significant CAGR throughout the estimated period. It offers medical, nursing, and allied services and has inpatient facilities and a well-organized medical and professional staff. They treat acute and chronic ailments caused by diseases, mishaps, and genetic flaws. Hospital services are becoming more popular among consumers of potassium monitoring devices. The hospital has a specialized group of physicians and staff that require a more significant number of potassium monitoring equipment; as a result, this market segment dominates the market for monitoring devices.

A clinic medical facility specializes in the treatment of outpatients. Clinics handle the majority of the local population’s healthcare requirements. Generally, clinics are administered by one or more general practitioners and are smaller than hospitals. They do not operate on a 24/7/365 basis as hospitals do. They have limited healthcare devices and offer limited resources; hence, this segment is anticipated to grow at a minimal rate during the forecast period. 

Increasing emergency cases and nearest cure center increases the chance of clinics getting more patients related to chronic kidney disease. In addition, the clinic’s management has many emergency wards and healthcare monitoring devices that attract more patients. The rise in clinic patients increases the demand for such medical care devices.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 42.6 Million
Projected Market Size in 2030 USD 816.8 Million
CAGR Growth Rate 43.6% CAGR (2022-2030)
Base Year 2023
Forecast Period 2024-2033
Prominent Players Abbott Laboratories, Trinity Biotech, Cardinal Health, Cepheid, bioMerieux, Novartis, Bio-Rad Laboratories, F. Hoffmann La Roche, Danaher, Siemens Healthineers, Trividia Health, and Others
Key Segment By Type, Application, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfill your requirements for research.

Regional Insights

North America has had a leading position in the home potassium monitoring devices industry and is expected to continue doing so over the projection period. The main cause of the rise is the region’s rising prevalence of chronic diseases. The market is also expanding rapidly due to the rise in patients with abnormally high or low blood potassium levels. Of the 20 million Americans with chronic renal illness, more than 500,000 have impaired kidney function and regularly require dialysis treatment.

Dialysis patients frequently experience the illness known as hyperkalemia, which happens when blood potassium levels rise over 3.5–5.5 mmol/L. Hyperkalemia is a silent killer because symptoms typically do not manifest until potassium levels are highly elevated. Heart palpitations, aching and weak muscles, and even cardiac arrhythmia and death might result from this illness. As a result, there is a growing need for potassium monitoring devices in this area.

Asia-Pacific is considered the second largest region with chronic kidney diseases, which raises the demand for monitoring devices for potassium in the blood. The prevalence of CKD is alarmingly high in nations with few resources in the Asian area. The CKD pandemic in Asia might be addressed with measures including raising awareness, screening high-risk populations, offering affordable treatments, and expanding access to healthcare. The increasing risks have significant chances to rise the number of monitoring devices in the coming times, which will drive the home potassium monitoring devices market.

Key Players

  • Abbott Laboratories
  • Trinity Biotech
  • Cardinal Health
  • Cepheid
  • bioMerieux
  • Novartis
  • Bio-Rad Laboratories
  • Hoffmann La Roche
  • Danaher
  • Siemens Healthineers
  • Trividia Health

Recent Development

  • In September 2018, the FDA designated AliveCor’s bloodless hyperkalemia test as a breakthrough device. With this classification, the FDA will review the invention under an expedited approval process intended only for medical devices that show promise in addressing unmet medical needs for fatal or permanently crippling illnesses or disorders.

Global Home Potassium Monitoring Devices Market 2023 – 2032 (By Million)

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Segments covered in the report

By Type

  • Desktop
  • Portable
  • Others

By Application

  • Hospital
  • Clinic
  • Others

On the basis of Geography

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Home Potassium Monitoring Devices Market, (2022 – 2030) (USD Million)
    • 2.2 Global Home Potassium Monitoring Devices Market: snapshot
  • Chapter 3. Global Home Potassium Monitoring Devices Market – Industry Analysis
    • 3.1 Home Potassium Monitoring Devices Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Chronic Renal Disease Has Become More Common
      • 3.2.2 Chronic Kidney Disease
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Application
  • Chapter 4. Global Home Potassium Monitoring Devices Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Home Potassium Monitoring Devices Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Home Potassium Monitoring Devices Market – Type Analysis
    • 5.1 Global Home Potassium Monitoring Devices Market overview: By Type
      • 5.1.1 Global Home Potassium Monitoring Devices Market share, By Type, 2021 and 2030
    • 5.2 Desktop
      • 5.2.1 Global Home Potassium Monitoring Devices Market by Desktop, 2022 – 2030 (USD Million)
    • 5.3 Portable
      • 5.3.1 Global Home Potassium Monitoring Devices Market by Portable, 2022 – 2030 (USD Million)
    • 5.4 Others
      • 5.4.1 Global Home Potassium Monitoring Devices Market by Others, 2022 – 2030 (USD Million)
  • Chapter 6. Global Home Potassium Monitoring Devices Market – Application Analysis
    • 6.1 Global Home Potassium Monitoring Devices Market overview: By Application
      • 6.1.1 Global Home Potassium Monitoring Devices Market share, By Application, 2021 and 2030
    • 6.2 Hospital
      • 6.2.1 Global Home Potassium Monitoring Devices Market by Hospital, 2022 – 2030 (USD Million)
    • 6.3 Clinic
      • 6.3.1 Global Home Potassium Monitoring Devices Market by Clinic, 2022 – 2030 (USD Million)
    • 6.4 Others
      • 6.4.1 Global Home Potassium Monitoring Devices Market by Others, 2022 – 2030 (USD Million)
  • Chapter 7. Home Potassium Monitoring Devices Market – Regional Analysis
    • 7.1 Global Home Potassium Monitoring Devices Market Regional Overview
    • 7.2 Global Home Potassium Monitoring Devices Market Share, by Region, 2021 & 2030 (USD Million)
    • 7.3. North America
      • 7.3.1 North America Home Potassium Monitoring Devices Market, 2022 – 2030 (USD Million)
        • 7.3.1.1 North America Home Potassium Monitoring Devices Market, by Country, 2022 – 2030 (USD Million)
    • 7.4 North America Home Potassium Monitoring Devices Market, by Type, 2022 – 2030
      • 7.4.1 North America Home Potassium Monitoring Devices Market, by Type, 2022 – 2030 (USD Million)
    • 7.5 North America Home Potassium Monitoring Devices Market, by Application, 2022 – 2030
      • 7.5.1 North America Home Potassium Monitoring Devices Market, by Application, 2022 – 2030 (USD Million)
    • 7.6. Europe
      • 7.6.1 Europe Home Potassium Monitoring Devices Market, 2022 – 2030 (USD Million)
        • 7.6.1.1 Europe Home Potassium Monitoring Devices Market, by Country, 2022 – 2030 (USD Million)
    • 7.7 Europe Home Potassium Monitoring Devices Market, by Type, 2022 – 2030
      • 7.7.1 Europe Home Potassium Monitoring Devices Market, by Type, 2022 – 2030 (USD Million)
    • 7.8 Europe Home Potassium Monitoring Devices Market, by Application, 2022 – 2030
      • 7.8.1 Europe Home Potassium Monitoring Devices Market, by Application, 2022 – 2030 (USD Million)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Home Potassium Monitoring Devices Market, 2022 – 2030 (USD Million)
        • 7.9.1.1 Asia Pacific Home Potassium Monitoring Devices Market, by Country, 2022 – 2030 (USD Million)
    • 7.10 Asia Pacific Home Potassium Monitoring Devices Market, by Type, 2022 – 2030
      • 7.10.1 Asia Pacific Home Potassium Monitoring Devices Market, by Type, 2022 – 2030 (USD Million)
    • 7.11 Asia Pacific Home Potassium Monitoring Devices Market, by Application, 2022 – 2030
      • 7.11.1 Asia Pacific Home Potassium Monitoring Devices Market, by Application, 2022 – 2030 (USD Million)
    • 7.12. Latin America
      • 7.12.1 Latin America Home Potassium Monitoring Devices Market, 2022 – 2030 (USD Million)
        • 7.12.1.1 Latin America Home Potassium Monitoring Devices Market, by Country, 2022 – 2030 (USD Million)
    • 7.13 Latin America Home Potassium Monitoring Devices Market, by Type, 2022 – 2030
      • 7.13.1 Latin America Home Potassium Monitoring Devices Market, by Type, 2022 – 2030 (USD Million)
    • 7.14 Latin America Home Potassium Monitoring Devices Market, by Application, 2022 – 2030
      • 7.14.1 Latin America Home Potassium Monitoring Devices Market, by Application, 2022 – 2030 (USD Million)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Home Potassium Monitoring Devices Market, 2022 – 2030 (USD Million)
        • 7.15.1.1 The Middle-East and Africa Home Potassium Monitoring Devices Market, by Country, 2022 – 2030 (USD Million)
    • 7.16 The Middle-East and Africa Home Potassium Monitoring Devices Market, by Type, 2022 – 2030
      • 7.16.1 The Middle-East and Africa Home Potassium Monitoring Devices Market, by Type, 2022 – 2030 (USD Million)
    • 7.17 The Middle-East and Africa Home Potassium Monitoring Devices Market, by Application, 2022 – 2030
      • 7.17.1 The Middle-East and Africa Home Potassium Monitoring Devices Market, by Application, 2022 – 2030 (USD Million)
  • Chapter 8. Company Profiles
    • 8.1 Abbott Laboratories
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Trinity Biotech
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Cardinal Health
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Cepheid
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 bioMerieux
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Novartis
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Bio-Rad Laboratories
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 F. Hoffmann La Roche
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Danaher
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Siemens Healthineers
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Trividia Health
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments

List Of Figures

Figures No 1 to 20

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2028
  • Market revenue estimates and forecasts up to 2028, by technology
  • Market revenue estimates and forecasts up to 2028, by application
  • Market revenue estimates and forecasts up to 2028, by type
  • Market revenue estimates and forecasts up to 2028, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Key Players

  • Abbott Laboratories
  • Trinity Biotech
  • Cardinal Health
  • Cepheid
  • bioMerieux
  • Novartis
  • Bio-Rad Laboratories
  • Hoffmann La Roche
  • Danaher
  • Siemens Healthineers
  • Trividia Health
  • Others

FAQs

“North America” region will lead the global Home Potassium Monitoring Device market during the forecast period 2022 to 2030.

The key factors driving the market.The Chronic Renal Disease Has Become More Common, Chronic Kidney Disease.

The key players operating in the Home Potassium Monitoring Device market are Abbott Laboratories, Trinity Biotech, Cardinal Health, Cepheid, bioMerieux, Novartis, Bio-Rad Laboratories, F. Hoffmann La Roche, Danaher, Siemens Healthineers, Trividia Health.

The global Home Potassium Monitoring Device market is expanding growth with a CAGR of approximately 43.6% during the forecast period (2022 to 2030).

The global Home Potassium Monitoring Device market size was valued at USD 42.6 Million in 2021 and it is projected to reach around USD 816.8 Million by 2030.

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