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The Blood Gas and Electrolyte Analyzer Market size is estimated to be USD 1.69 billion in 2019 and is predicted to reach USD 2.91 billion by 2030 with a CAGR of 5.1% from 2020-2030. Blood gas analyzer are used to measure pH and the partial pressures of oxygen and carbon dioxide and electrolyte analyzer are used to measure electrolytes in body fluids such as serum, plasma and urine.
Traditionally, blood gas and electrolyte analysis was performed in the clinical laboratory using a bench-top analyzer. Bench-top critical care analyzers feature individual biosensor technology, broadest test menu and lowest cost of operation. However, with advancements in technology, blood gas analyzers have become progressive and enable patient record management more easily. With current advancements, analyzers have become smaller in size and easier to use. These products have gradually migrated into point of care (POC) areas. Point of care analyzers are designed to provide acid-base measurements at the bedside. These advanced products are easy to use in emergency departments where these analyzers help to monitor mechanically ventilated patients. Modern analyzers have computer interfaces and internal algorithms to calculate pertinent parameters such as correction for body temperature, and calculations of oxygen saturation. These advancements make the use of blood gas and electrolyte analyzers easy and safe and opens new avenues in the market.
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Market Dynamics and Trends:
Since past few years, there has been a gradual rise in geriatric population which has led in increase in the number of patients suffering with various chronic diseases such as cardiac disorders, renal diseases and so on. This has amplified the patient population in hospitals, emergency departments and critical care units and in turn has fuelled the demand for blood gas and electrolyte analysers. Also, factors such as reduction in critical care cost, increasing demand for POC analysers, and technological advancements are some additional factors driving the growth of the blood gas and electrolyte analyzer market. However, concerns with the accuracy of results and interpretation of data, and government regulations regarding quality control of the analyzers can limit the market growth during the forecast period.
Market Segmentations and Scope of the Study:
The blood gas and electrolyte analyser market share is analysed on the basis of product, portability, end user and geography. The product segment covers the market for blood gas analysers, electrolyte analysers, combined analysers, and consumables. On the basis of portability the market is divided into bench-top analysers and portable analysers. The end user segment comprises of hospitals, diagnostic laboratories, emergency departments, and other end users. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and Rest of the World.
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Geographical Analysis:
North America is expected to dominate the global blood gas and electrolyte analyser market, accounting for the highest market shares. This is attributed to stringent regulations regarding ban of phthalates, leading to higher adoption of blood gas and electrolyte analyser. Besides, higher demand for eco-friendly bio-films from the food & packaging industry is expected to propel the blood gas and electrolyte analyser market growth in this region.
The Europe region is expected to hold the second-highest market shares, representing a substantial growth of the blood gas and electrolyte analyser market over the forecast period. This is attributed to increasing government investments on environmentally-friendly initiatives and growing demand for bio-plasticizers in personal care products and consumer goods.
Asia Pacific region is expected to account for considerable market shares in the global blood gas and electrolyte analyser market, growing with the highest CAGR throughout the forecast period. Factors such as growing awareness among consumers regarding bio-degradable as well as eco-friendly plasticizers, higher investments in R&D activities, increasing government initiatives to produce effective and low-cost bio-plasticizers.
Competitive Landscape:
Comprehensive competitive analysis and profiles of major market players such as Siemens, Medica, Roche, Alere Medical, Nova stat, Bayer, Radiometer Medical, Samsung Medison, Abbott, and OPTI Medical systems Inc. is also provided in this report.
Key Benefits:
The blood gas and electrolyte analyser market report provides a quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
The study comprises a deep dive analysis of the blood gas and electrolyte analyser market trend including current and future trends for depicting the prevalent investment pockets in the market.
The report provides detailed information related to key drivers, restraints, opportunities and their impact on the blood gas and electrolyte analyser market.
The report incorporates a competitive analysis of the market players along with their market share in the global blood gas and electrolyte analyser market.
The study elaborates SWOT analysis and Porters Five Forces model for the blood gas and electrolyte analyser market.
Value chain analysis in the blood gas and electrolyte analyser market study provides a clear picture of the stakeholders’ roles.
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