Blood Gas and Electrolyte Analyzers Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
Growing geriatric population base coupled with the burden of chronic diseases worldwide is poised to drive blood gas and electrolyte analyzers market outlook. In 2019, the International Diabetes Federation claimed that around 463 million patients across the globe had diabetes and the number is forecast to reach up to 700 million by 2045.
Also, the European Heart Network approximated that cardiovascular diseases lead to more than 1.8 million deaths in the European Union alone and over 3.9 million deaths in overall Europe. The number of patients that are treated in emergency departments, ICUs and NICUs are gradually increasing. The integration of blood gas analyzer with laboratory information systems and electronic medical records aid in monitoring patient’s health and streamline workflow in hospitals.
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Large-scale utilization of these analyzers to obtain quick and accurate results for blood gases, electrolytes, acid-base balance, ionized calcium, lactate and glucose, among others may fuel product demand. Moreover, analyzer manufacturers are focusing on development and rolling out of advanced products. For instance, Radiometer developed an ABL9 blood gas analyzer that gives accurate results on 70 microliters of blood in as less as 77 seconds.
Rising innovation in the product line is likely to compliment business growth in the coming years. Globally, blood & gas electrolyte analyzers market size is forecast to surpass USD 5.7 billion in annual value by 2026. Growing inclination towards portable analyzers to eliminate the pre-analytical errors related to centralized testing will bolster product demand. In 2019, portable blood gas and electrolyte analyzers segment contributed around 60% to the overall revenue share.
Dual functioning ability of the combined analyzers to test blood gas and analyze nitrogen, blood urea, electrolytes and creatinine is resulting in robust adoption of these equipment. These analyzers also provide reliable, quick and accurate results for electrolytes, acid-base balance, ionized calcium, lactate, glucose and blood gas. Combined analyzers segment is expected to showcase growth rate of 7.5% over 2020-2026.
In 2019, the point-of-care segment accounted for over USD 1.5 billion in value and is likely to exhibit significant growth through 2026. Point-of-care devices offer quick analysis due to its ease-of-use, portability and short turn-around time. POC glucose meters have proven to be significantly useful in managing glycemic level in diabetic patients, claims the American Diabetes Association. Growing utilization of blood gas analyzers in operation rooms and emergency departments to monitor mechanically ventilated patients will supplement the industry share.
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North America blood gas and electrolyte analyzers market size is forecast to reach USD 2 billion in revenues by 2026. Presence of well-developed infrastructure along with growing healthcare spending in the region are the key contributors to this growth. The healthcare facilities in North America are increasingly integrating POC devices and wireless connectivity to ensure better outcomes. A large scale adoption of handheld, portable, and advanced blood gas & electrolyte analyzers will construe to the regional product trends.
Partial Chapter of the Table of Content
Chapter 2. Executive Summary
2.1. Blood gas and electrolyte analyzers industry 360° synopsis, 2015-2026
2.1.1. Business trends
2.1.2. Modality trends
2.1.3. Product trends
2.1.4. End-use trends
2.1.5. Regional trends
Chapter 3. Blood Gas and Electrolyte Analyzers Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
18.104.22.168. Rising prevalence of chronic disease worldwide
22.214.171.124. Technological advancements
126.96.36.199. Increasing demand for integrated system
188.8.131.52. Growing elderly population base in developed countries
3.3.2. Industry pitfalls & challenges
184.108.40.206. High cost associated with product
220.127.116.11. Complex regulatory scenario
3.4. Growth potential analysis
3.4.1. By modality
3.4.2. By product
3.4.3. By end-use
3.5. Porter’s analysis
3.6. Competitive landscape, 2019
3.6.1. Strategy dashboard, 2019
3.7. PESTEL analysis
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