The med-tech industry has been scrambling to ensure business continuity and important deliveries during the COVID-19 pandemic. Companies in the North America lactate meters market are recalibrating across the value chain and serving critical healthcare needs. The unparalleled demand for products such as diagnostic tests, personal protective equipment (PPE), and lactate meters have compelled manufacturers to run production at break-neck speeds.
Companies in the North America lactate meters market have responded with resilience and the ability to integrate innovations swiftly. Stakeholders are developing a strong state of preparedness and agility in serving customers without disruptions during the ongoing pandemic. They are maintaining a diversified product portfolio in order to keep the economies running. Manufacturers are ensuring that warehouses and depots are well-stocked to maintain continuous supply of lactate meters and other essential medical devices.
The North America lactate meters market is projected to reach US$ 115.2 Mn by 2031. However, many factors affect test results in lactate meters. For instance, having an insufficient amount of blood in the test sample can result in falsely low readings. Hence, med-tech companies are increasing awareness about these issues via product instructions and doctors to improve medical outcomes & enhance patient quality of life.
Nevertheless, manufacturers are boosting R&D to develop lactate meters that enable measurement quickly on a very small drop of blood. This facilitates a virtually painless, yet fast and accurate testing of lactate in the blood of an individual.
Manufacturers in the North America lactate meters market are increasing the availability of portable devices. Nova Biomedical - a med-tech company based in Massachusetts, U.S., is being publicized for its portable lactate meter StatStrip, which has a fast turnaround time of only a few seconds. This helps to bring lactate testing directly to the patient’s bedside.
Portable lactate meters are increasingly replacing complex blood gas analyzers that require large sample volumes and long analysis times. Med-tech companies in the North America lactate meters market are capitalizing on this opportunity by bolstering output capacities for portable devices. Since blood gas analyzers are complex to operate, stay in a fixed location, and are expensive, companies are publicizing the advantages of portable lactate meters. These devices can be easily operated by the medical and nursing staff.
The Lactate Scout 4 Starter Set is gaining popularity for its Bluetooth function, software, spray bottle, and fast turnaround time. Companies in the North America lactate meters market are taking cues from such innovations to design small, handy devices that allow fast and precise measurements of the lactate value of capillary blood. Sports medicine and performance diagnostics of athletes are acting as growth drivers for the expansion of North America lactate meters market.
There is a growing demand for lactate meters that save multiple measurements with date and time. Manufacturers are increasing R&D to innovate in devices that can transmit measurements to Android and IOS devices with the help of Bluetooth & leading edge software technology. Devices that feature stopwatch and countdown timers for performance measurement are being preferred.
Analysts’ Viewpoint
Apart from maintaining supply chains, companies in the North America lactate meters market are leveraging revenue opportunities through eCommerce and telehealth services during the ongoing COVID-19 pandemic. The improper cleaning of sample site can cause potential contamination and affect the readings. Moreover, storing the meter or strips at extreme temperatures can cause falsely high or low readings. Hence, companies should increase awareness of factors recommended for storing and monitoring the results of lactate meters whilst publicizing the importance of double checking the readings that seem abnormally high or low. Bluetooth, stopwatch, and software technologies are growing popular in lactate meters.
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Attribute |
Detail |
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Market Size Value in 2020 |
US$ 49.2 Mn |
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Market Forecast Value in 2031 |
US$ 115.2 Mn |
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Growth Rate (CAGR) |
7.4% |
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Forecast Period |
2021–2031 |
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Quantitative Units |
US$ Mn for Value |
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Market Analysis |
It includes cross segment analysis at country level. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, and parent industry overview. |
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Competition Landscape |
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Format |
Electronic (PDF) + Excel |
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Market Segmentation |
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Countries Covered |
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Companies Profiled |
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Customization Scope |
Available upon request |
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Pricing |
Available upon request |
North America Lactate Meters Market – Segmentation
TMR’s study on the lactate meters market in North America includes information divided into three segments: product type, application, end-user, and country. Changing industry trends and other market dynamics associated with these segments of the lactate meters market in North America are discussed in detail.
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Lactate meters market in north america to reach valuation of US$ 115.2 mn by 2031
Lactate meters market in north america is projected to expand at a CAGR of 7.4% from 2021 to 2031
Lactate meters market in north america is driven by rise in popularity of various sports across the globe
The battery-operated lactate meters segment dominated the lactate meters market in north america
Key players operating in the lactate meters market include apexbio, ekf diagnostics, nova biomedical, sensa core medical instrumentation pvt. ltd., arkray, inc.
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: North America Lactate Meters Market
4. Market Overview
4.1. Introduction
4.1.1. Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. North America Lactate Meters Market Analysis and Forecast, 2017–2031
5. Key Insights
5.1. Technological Advancements
5.2. COVID-19 Pandemics Impact on Industry (value chain and short / mid/ long term impact)
5.3. Regulatory Scenario by North America
5.4. Pricing Analysis by North America
6. North America Lactate Meters Market Analysis and Forecast, by Product Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Product Type, 2017–2031
6.3.1. Chargeable Lactate Meters
6.3.2. Battery-operated Lactate Meters
6.4. Market Attractiveness Analysis, by Product Type
7. North America Lactate Meters Market Analysis and Forecast, by Application
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast, by Application, 2017–2031
7.3.1. Sports Performance Monitoring
7.3.2. Medical Intervention
7.3.3. Others
7.4. Market Attractiveness Analysis, by Application
8. North America Lactate Meters Market Analysis and Forecast, by End-user
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Market Value Forecast, by End-user, 2017–2031
8.3.1. Hospitals
8.3.2. Clinics
8.3.3. Long-term Care Services
8.3.4. Home Care
8.3.5. Others
8.4. Market Attractiveness Analysis, by End-user
9. North America Lactate Meters Market Analysis and Forecast, by Country
9.1. Key Findings
9.2. Market Value Forecast, by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Market Attractiveness Analysis, by Country
10. U.S. Lactate Meters Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Product Type, 2017–2031
10.2.1. Chargeable Lactate Meters
10.2.2. Battery-operated Lactate Meters
10.3. Market Value Forecast, by Application, 2017–2031
10.3.1. Sports Performance Monitoring
10.3.2. Medical Intervention
10.3.3. Others
10.4. Market Value Forecast, by End-user, 2017–2031
10.4.1. Hospitals
10.4.2. Clinics
10.4.3. Long-term Care Services
10.4.4. Home Care
10.4.5. Others
10.5. Market Attractiveness Analysis
10.5.1. By Product Type
10.5.2. By Application
10.5.3. By End-user
11. Canada Lactate Meters Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Product Type, 2017–2031
11.2.1. Chargeable Lactate Meters
11.2.2. Battery-operated Lactate Meters
11.3. Market Value Forecast, by Application, 2017–2031
11.3.1. Sports Performance Monitoring
11.3.2. Medical Intervention
11.3.3. Others
11.4. Market Value Forecast, by End-user, 2017–2031
11.4.1. Hospitals
11.4.2. Clinics
11.4.3. Long-term Care Services
11.4.4. Home Care
11.4.5. Others
11.5. Market Attractiveness Analysis
11.5.1. By Product Type
11.5.2. By Application
11.5.3. By End-user
12. Competition Landscape
12.1. Market Player – Competition Matrix (by tier and size of companies)
12.2. Market Share Analysis, by Company, 2020
12.3. Company Profiles
12.3.1. ApexBio
12.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)
12.3.1.2. Company Financials
12.3.1.3. Growth Strategies
12.3.1.4. SWOT Analysis
12.3.2. EKF Diagnostics
12.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)
12.3.2.2. Company Financials
12.3.2.3. Growth Strategies
12.3.2.4. SWOT Analysis
12.3.3. Nova Biomedical
12.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)
12.3.3.2. Company Financials
12.3.3.3. Growth Strategies
12.3.3.4. SWOT Analysis
12.3.4. Sensa Core Medical Instrumentation Pvt. Ltd.
12.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)
12.3.4.2. Company Financials
12.3.4.3. Growth Strategies
12.3.4.4. SWOT Analysis
12.3.5. Arkray, Inc.
12.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)
12.3.5.2. Company Financials
12.3.5.3. Growth Strategies
12.3.5.4. SWOT Analysis
12.3.6. BST Bio Sensor Technology
12.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)
12.3.6.2. Company Financials
12.3.6.3. Growth Strategies
12.3.6.4. SWOT Analysis
12.3.7. TaiDoc Technology
12.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)
12.3.7.2. Company Financials
12.3.7.3. Growth Strategies
12.3.7.4. SWOT Analysis
12.3.8. F. Hoffmann-La Roche Ltd.
12.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)
12.3.8.2. Company Financials
12.3.8.3. Growth Strategies
12.3.8.4. SWOT Analysis
List of Tables
Table 01: North America Lactate Meters Market Value (US$ Mn) Forecast, by Product Type, 2017–2031
Table 02: North America Lactate Meters Market Value (US$ Mn) Forecast, by Application, 2017–2031
Table 03: North America Lactate Meters Market Value (US$ Mn) Forecast, by End-user, 2017–2031
Table 04: North America Lactate Meters Market Value (US$ Mn) Forecast, by Country, 2017–2031
Table 05: U.S. Lactate Meters Market Value (US$ Mn) Forecast, by Product Type, 2017–2031
Table 06: U.S. Lactate Meters Market Value (US$ Mn) Forecast, by Application, 2017–2031
Table 07: U.S. Lactate Meters Market Value (US$ Mn) Forecast, by End-user, 2017–2031
Table 08: Canada Lactate Meters Market Value (US$ Mn) Forecast, by Product Type, 2017–2031
Table 09: Canada Lactate Meters Market Value (US$ Mn) Forecast, by Application, 2017–2031
Table 10: Canada Lactate Meters Market Value (US$ Mn) Forecast, by End-User, 2017–2031
List of Figures
Figure 01: North America Lactate Meters Market Value (US$ Mn) Forecast, 2017–2031
Figure 02: North America Lactate Meters Market Value Share, by Product Type, 2020
Figure 03: North America Lactate Meters Market Value Share, by Application, 2020
Figure 04: North America Lactate Meters Market Value Share, by End-user, 2020
Figure 05: North America Lactate Meters Market Value Share Analysis, by Product Type, 2020 and 2031
Figure 06: North America Lactate Meters Market Attractiveness Analysis, by Product Type, 2021–2031
Figure 07: North America Lactate Meters Market Revenue (US$ Mn), by Chargeable Lactate Meters, 2017–2031
Figure 08: North America Lactate Meters Market Revenue (US$ Mn), by Battery-operated Lactate Meters, 2017–2031
Figure 09: North America Lactate Meters Market Value Share Analysis, by Application, 2020 and 2031
Figure 10: North America Lactate Meters Market Attractiveness Analysis, by Application, 2021–2031
Figure 11: North America Lactate Meters Market Revenue (US$ Mn), by Sports Performance Monitoring, 2017–2031
Figure 12: North America Lactate Meters Market Revenue (US$ Mn), by Medical Intervention, 2017–2031
Figure 13: North America Lactate Meters Market Revenue (US$ Mn), by Others, 2017–2031
Figure 14: North America Lactate Meters Market Value Share Analysis, by End-user, 2020 and 2031
Figure 15: North America Lactate Meters Market Attractiveness Analysis, by End-user, 2021–2031
Figure 16: North America Lactate Meters Market Revenue (US$ Mn), by Hospitals, 2017–2031
Figure 17: North America Lactate Meters Market Revenue (US$ Mn), by Clinics, 2017–2031
Figure 18: North America Lactate Meters Market Revenue (US$ Mn), by Long-Term Care Services, 2017–2031
Figure 19: North America Lactate Meters Market Revenue (US$ Mn), by Home Care, 2017–2031
Figure 20: North America Lactate Meters Market Revenue (US$ Mn), by Others, 2017–2031
Figure 21: North America Lactate Meters Market Value Share Analysis, by Country, 2020 and 2031
Figure 22: North America Lactate Meters Market Attractiveness Analysis, by Country, 2021–2031
Figure 23: U.S. Lactate Meters Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2017–2031
Figure 24: U.S. Lactate Meters Market Value Share Analysis, by Product Type, 2020 and 2031
Figure 25: U.S. Lactate Meters Market Attractiveness Analysis, by Product Type, 2021–2031
Figure 26: U.S. Lactate Meters Market Value Share Analysis, by Application, 2020 and 2031
Figure 27: U.S. Lactate Meters Market Attractiveness Analysis, by Application, 2021–2031
Figure 28: U.S. Lactate Meters Market Value Share Analysis, by End-user, 2020 and 2031
Figure 29: U.S. Lactate Meters Market Attractiveness Analysis, by End-user, 2021–2031
Figure 30: Canada Lactate Meters Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2017–2031
Figure 31: Canada Lactate Meters Market Value Share Analysis, by Product Type, 2020 and 2031
Figure 32: Canada Lactate Meters Market Attractiveness Analysis, by Product Type, 2021–2031
Figure 33: Canada Lactate Meters Market Value Share Analysis, by Application, 2020 and 2031
Figure 34: Canada Lactate Meters Market Attractiveness Analysis, by Application, 2021–2031
Figure 35: Canada Lactate Meters Market Value Share Analysis, by End-user, 2020 and 2031
Figure 36: Canada Lactate Meters Market Attractiveness Analysis, by End-user, 2021–2031
Figure 37: North America Lactate Meters Market Share, by Company, 2020
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Lactate Meters Market Insights, 2021-2031
