Home Potassium Monitoring Devices Market - Global Home Potassium Monitoring Devices Market Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 -

Description

The global home potassium monitoring devices market is poised for an explosive growth trajectory, with a projected Compound Annual Growth Rate (CAGR) of 44.3% between 2023 and 2030, according to the latest market research report by Fairfield Market Research. The market is expected to surge from approximately $43.2 billion in 2022 to a staggering $562.7 billion by 2030, driven by an escalating prevalence of chronic renal disease and an increasing demand for innovative monitoring solutions.

Chronic Renal Disease Spurs Demand for Monitoring Devices

One of the key drivers fueling this remarkable growth is the escalating prevalence of chronic renal disease worldwide. As the number of individuals with abnormal blood potassium levels continues to rise, there is an increasing need for home potassium monitoring devices. These devices provide a convenient way to detect problems and manage chronic renal disease, significantly improving the quality of life for patients.

Growing Incidence of Disorders Drives Demand

In addition to chronic renal disease, other disorders such as diabetes, kidney disease, and urinary tract infections (UTIs) are becoming more common. This surge in various health conditions is contributing to the growing demand for home potassium monitoring devices, as early detection and management become critical components of effective healthcare.

Promising Growth Prospects in Developing Nations

Key competitors in the home potassium monitoring devices market are eyeing future growth potential in developing nations such as South Korea, India, Brazil, and Mexico. These countries offer promising markets for innovative monitoring solutions due to changing lifestyles and an increasing elderly population.

Challenges in the Market

Despite its promising growth, the home potassium monitoring devices market faces challenges, including false odor readings and the risk of urinary tract infections (UTIs) associated with these devices.

Chronic Kidney Disease Takes the Lead

In 2022, the chronic kidney disease indication category dominated the industry and is expected to continue growing due to changing lifestyles and the growing elderly population.

Urine Test Strips Segment Leads the Market

In terms of market share, the urine test strips segment is anticipated to dominate the home potassium monitoring devices market. These strips are favored due to their availability, affordability, and user-friendliness.

North America Leads in Innovation and Adoption

North America is expected to lead in market adoption due to factors such as the increasing incidence of chronic diseases, advanced technology, and the demand for wireless and portable systems that reduce out-of-pocket costs.

Asia-Pacific Poised for Significant Growth

Asia-Pacific is poised for profitable growth over the projection period. The adoption of a sedentary lifestyle and poor dietary habits have led to a rise in chronic illnesses, including obesity and diabetes, driving the demand for home potassium monitoring devices.

Regulatory Impact

The regulatory scenario significantly influences the home potassium monitoring devices industry. Various countries have their own regulatory agencies overseeing protocols for licensing and regulating medical devices. In the United States, the US FDA regulates medical devices, while Europe follows EU regulations to approve medical equipment. In India, the Central Drug Standard Control Organisation (CDSCO) enforces medical device regulations.

Leaders in the Global Home Potassium Monitoring Devices Market

The global home potassium monitoring devices market is characterized by consolidation, with a few major players dominating the industry. Leading companies include:

1. Abbott Laboratories
2. Trinity Biotech
3. Cardinal Health
4. Cepheid
5. bioMerieux
6. Novartis
7. Bio-Rad Laboratories
8. Hoffmann La Roche
9. Danaher
10. Siemens Healthineers
11. Trividia Health
12. Care Innovations, LLC
13. Alio
14. Kalium Health
15. AstraZeneca
16. AliveCor Inc.

Global Home Potassium Monitoring Devices Market is Segmented as Below:

By Product:

Wearable Sensors
Portable ECG Monitors
Urine Test Strips
Others

By Indication:

Chronic Kidney Disease
Cardiovascular Health
Diabetes
Others

By Geographic Coverage:

North America
- U.S.
- Canada

Europe
- Germany
- U.K.
- France
- Italy
- Turkey
- Russia
- Rest of Europe

Asia Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Rest of Asia Pacific

Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America

Middle East & Africa
- GCC
- South Africa
- Egypt
- Nigeria
- Rest of Middle East & Africa

1. Executive Summary

1.1. Global Home Potassium Monitoring Devices Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2022
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Home Potassium Monitoring Devices Market Outlook, 2018 - 2030

3.1. Global Home Potassium Monitoring Devices Market Outlook, by Product, Value (US$ Mn), 2018 - 2030
- 3.1.1. Key Highlights
  - 3.1.1.1. Wearable Sensors
  - 3.1.1.2. Portable ECG Monitors
  - 3.1.1.3. Urine Test Strips
  - 3.1.1.4. Others
3.2. Global Home Potassium Monitoring Devices Market Outlook, by Indication, Value (US$ Mn), 2018 - 2030
- 3.2.1. Key Highlights
  - 3.2.1.1. Chronic Kidney Disease
  - 3.2.1.2. Cardiovascular Health
  - 3.2.1.3. Diabetes
  - 3.2.1.4. Others
3.3. Global Home Potassium Monitoring Devices Market Outlook, by Region, Value (US$ Mn), 2018 - 2030
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Home Potassium Monitoring Devices Market Outlook, 2018 - 2030

4.1. North America Home Potassium Monitoring Devices Market Outlook, by Product, Value (US$ Mn), 2018 - 2030
- 4.1.1. Key Highlights
  - 4.1.1.1. Wearable Sensors
  - 4.1.1.2. Portable ECG Monitors
  - 4.1.1.3. Urine Test Strips
  - 4.1.1.4. Others
4.2. North America Home Potassium Monitoring Devices Market Outlook, by Indication, Value (US$ Mn), 2018 - 2030
- 4.2.1. Key Highlights
  - 4.2.1.1. Chronic Kidney Disease
  - 4.2.1.2. Cardiovascular Health
  - 4.2.1.3. Diabetes
  - 4.2.1.4. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Home Potassium Monitoring Devices Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 4.3.1.2. U.S. Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 4.3.1.3. Canada Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 4.3.1.4. Canada Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Home Potassium Monitoring Devices Market Outlook, 2018 - 2030

5.1. Europe Home Potassium Monitoring Devices Market Outlook, by Product, Value (US$ Mn), 2018 - 2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Wearable Sensors
  - 5.1.1.2. Portable ECG Monitors
  - 5.1.1.3. Urine Test Strips
  - 5.1.1.4. Others
5.2. Europe Home Potassium Monitoring Devices Market Outlook, by Indication, Value (US$ Mn), 2018 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Chronic Kidney Disease
  - 5.2.1.2. Cardiovascular Health
  - 5.2.1.3. Diabetes
  - 5.2.1.4. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Home Potassium Monitoring Devices Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 5.3.1.2. Germany Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 5.3.1.3. U.K. Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 5.3.1.4. U.K. Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 5.3.1.5. France Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 5.3.1.6. France Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 5.3.1.7. Italy Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 5.3.1.8. Italy Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 5.3.1.9. Turkey Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 5.3.1.10. Turkey Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 5.3.1.11. Russia Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 5.3.1.12. Russia Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 5.3.1.13. Rest of Europe Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 5.3.1.14. Rest of Europe Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Home Potassium Monitoring Devices Market Outlook, 2018 - 2030

6.1. Asia Pacific Home Potassium Monitoring Devices Market Outlook, by Product, Value (US$ Mn), 2018 - 2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Wearable Sensors
  - 6.1.1.2. Portable ECG Monitors
  - 6.1.1.3. Urine Test Strips
  - 6.1.1.4. Others
6.2. Asia Pacific Home Potassium Monitoring Devices Market Outlook, by Indication, Value (US$ Mn), 2018 - 2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Chronic Kidney Disease
  - 6.2.1.2. Cardiovascular Health
  - 6.2.1.3. Diabetes
  - 6.2.1.4. Others
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Home Potassium Monitoring Devices Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 6.3.1. Key Highlights
  - 6.3.1.1. China Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 6.3.1.2. China Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 6.3.1.3. Japan Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 6.3.1.4. Japan Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 6.3.1.5. South Korea Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 6.3.1.6. South Korea Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 6.3.1.7. India Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 6.3.1.8. India Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 6.3.1.9. Southeast Asia Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 6.3.1.10. Southeast Asia Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 6.3.1.11. Rest of Asia Pacific Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 6.3.1.12. Rest of Asia Pacific Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Home Potassium Monitoring Devices Market Outlook, 2018 - 2030

7.1. Latin America Home Potassium Monitoring Devices Market Outlook, by Product, Value (US$ Mn), 2018 - 2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Wearable Sensors
  - 7.1.1.2. Portable ECG Monitors
  - 7.1.1.3. Urine Test Strips
  - 7.1.1.4. Others
7.2. Latin America Home Potassium Monitoring Devices Market Outlook, by Indication, Value (US$ Mn), 2018 - 2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Chronic Kidney Disease
  - 7.2.1.2. Cardiovascular Health
  - 7.2.1.3. Diabetes
  - 7.2.1.4. Others
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Home Potassium Monitoring Devices Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 7.3.1.2. Brazil Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 7.3.1.3. Mexico Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 7.3.1.4. Mexico Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 7.3.1.5. Argentina Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 7.3.1.6. Argentina Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 7.3.1.7. Rest of Latin America Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 7.3.1.8. Rest of Latin America Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Home Potassium Monitoring Devices Market Outlook, 2018 - 2030

8.1. Middle East & Africa Home Potassium Monitoring Devices Market Outlook, by Product, Value (US$ Mn), 2018 - 2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Wearable Sensors
  - 8.1.1.2. Portable ECG Monitors
  - 8.1.1.3. Urine Test Strips
  - 8.1.1.4. Others
8.2. Middle East & Africa Home Potassium Monitoring Devices Market Outlook, by Indication, Value (US$ Mn), 2018 - 2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Chronic Kidney Disease
  - 8.2.1.2. Cardiovascular Health
  - 8.2.1.3. Diabetes
  - 8.2.1.4. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Home Potassium Monitoring Devices Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 8.3.1.2. GCC Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 8.3.1.3. South Africa Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 8.3.1.4. South Africa Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 8.3.1.5. Egypt Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 8.3.1.6. Egypt Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 8.3.1.7. Nigeria Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 8.3.1.8. Nigeria Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
  - 8.3.1.9. Rest of Middle East & Africa Home Potassium Monitoring Devices Market by Product, Value (US$ Mn), 2018 - 2030
  - 8.3.1.10. Rest of Middle East & Africa Home Potassium Monitoring Devices Market by Indication, Value (US$ Mn), 2018 - 2030
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Product vs Indication Heatmap
9.2. Manufacturer vs Indication Heatmap
9.3. Company Market Share Analysis, 2022
9.4. Competitive Dashboard
9.5. Company Profiles
- 9.5.1. Abbott Laboratories
  - 9.5.1.1. Company Overview
  - 9.5.1.2. Product Portfolio
  - 9.5.1.3. Financial Overview
  - 9.5.1.4. Business Strategies and Development
- 9.5.2. Trinity Biotech
  - 9.5.2.1. Company Overview
  - 9.5.2.2. Product Portfolio
  - 9.5.2.3. Financial Overview
  - 9.5.2.4. Business Strategies and Development
- 9.5.3. Cardinal Health
  - 9.5.3.1. Company Overview
  - 9.5.3.2. Product Portfolio
  - 9.5.3.3. Financial Overview
  - 9.5.3.4. Business Strategies and Development
- 9.5.4. Cepheid
  - 9.5.4.1. Company Overview
  - 9.5.4.2. Product Portfolio
  - 9.5.4.3. Financial Overview
  - 9.5.4.4. Business Strategies and Development
- 9.5.5. bioMerieux
  - 9.5.5.1. Company Overview
  - 9.5.5.2. Product Portfolio
  - 9.5.5.3. Financial Overview
  - 9.5.5.4. Business Strategies and Development
- 9.5.6. Novartis
  - 9.5.6.1. Company Overview
  - 9.5.6.2. Product Portfolio
  - 9.5.6.3. Financial Overview
  - 9.5.6.4. Business Strategies and Development
- 9.5.7. Bio-Rad Laboratories
  - 9.5.7.1. Company Overview
  - 9.5.7.2. Product Portfolio
  - 9.5.7.3. Financial Overview
  - 9.5.7.4. Business Strategies and Development
- 9.5.8. Hoffmann La Roche
  - 9.5.8.1. Company Overview
  - 9.5.8.2. Product Portfolio
  - 9.5.8.3. Financial Overview
  - 9.5.8.4. Business Strategies and Development
- 9.5.9. Danaher
  - 9.5.9.1. Company Overview
  - 9.5.9.2. Product Portfolio
  - 9.5.9.3. Business Strategies and Development
- 9.5.10. Siemens Healthineers
  - 9.5.10.1. Company Overview
  - 9.5.10.2. Product Portfolio
  - 9.5.10.3. Financial Overview
  - 9.5.10.4. Business Strategies and Development
- 9.5.11. Trividia Health
  - 9.5.11.1. Company Overview
  - 9.5.11.2. Product Portfolio
  - 9.5.11.3. Financial Overview
  - 9.5.11.4. Business Strategies and Development
- 9.5.12. Care Innovations, LLC
  - 9.5.12.1. Company Overview
  - 9.5.12.2. Product Portfolio
  - 9.5.12.3. Financial Overview
  - 9.5.12.4. Business Strategies and Development
- 9.5.13. Alio
  - 9.5.13.1. Company Overview
  - 9.5.13.2. Product Portfolio
  - 9.5.13.3. Financial Overview
  - 9.5.13.4. Business Strategies and Development
- 9.5.14. Kalium Health
  - 9.5.14.1. Company Overview
  - 9.5.14.2. Product Portfolio
  - 9.5.14.3. Financial Overview
  - 9.5.14.4. Business Strategies and Development
- 9.5.15. AstraZeneca
  - 9.5.15.1. Company Overview
  - 9.5.15.2. Product Portfolio
  - 9.5.15.3. Financial Overview
  - 9.5.15.4. Business Strategies and Development
- 9.5.16. AliveCor
  - 9.5.16.1. Company Overview
  - 9.5.16.2. Product Portfolio
  - 9.5.16.3. Financial Overview
  - 9.5.16.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations