Blood Gas And Electrolyte Analyzers Market Overview:
Global Blood Gas And Electrolyte Analyzers Market was valued at $1,427 million in 2016, and is estimated to reach $2,104 million by 2023, growing at a CAGR of 5.7% from 2017 to 2023. Blood gas and electrolyte analyzers are used to measure different parameters from whole blood samples, such as pH, blood gas (pCO2 and pO2), electrolytes, and metabolites. The pH value of blood and serum or plasma is an indicator of the balance between the blood, renal (kidney), and lung (respiratory) systems, while the pCO2 value of arterial blood is used to assess efficient elimination of carbon dioxide from the body, a by-product of metabolism; and the pO2 value of arterial blood is a measure of oxygen absorbance by the body in the lungs. Electrolytes and metabolites give further information about body metabolism.
Growth in number of patients being treated in ICUs, NICUs, and emergency departments; rise in patients suffering from chronic diseases; technological advancement in blood gas & electrolyte analyzers, and increase in number of product approvals are the major factors that drive the market growth. However, complexity involved in the interpretation of blood analysis data act as a restraining factor for the market growth. Increase in investment by major medical diagnostics giants and improvement in the healthcare facilities in Asia-Pacific provide growth opportunities for the market.
Blood Gas and Electrolyte Analyzers: Market Segmentation
The global blood gas and electrolyte analyzers market is segmented based on type, product/brand, end user, and geography. Based on type, it is bifurcated into analyzers/instruments and consumables. The consumables segment contributed the highest share in 2016, owing to the rise in demand for electrodes, solutions, quality control reagents, and blood gas & electrolyte tests. The analyzers/instruments are further classified into product type and modality. Based on product type, it is categorized into blood gas analyzers, electrolyte analyzers, and combined analyzers. Combined analyzers contributed the highest share in 2016, owing to the flexibility offered by it to measure multiple parameters, such as blood gases, electrolytes, and metabolites. Based on modality, it is divided into portable, benchtop, and laboratory. Portable blood gas analyzers accounted for the highest market share in 2016, owing to the ease of use with accurate results of the blood gas tests at the bed-side of the patients.
Based on product/brand, it is classified into i-STAT, GEM Premier, ABL Flex, RAPID series, Cobas, and other blood gas analyzers. The ABL Flex segment holds the highest share in the global market, as it offers wide range of products ranging from portable to benchtop blood gas analyzers. Based on end user, it is categorized into hospitals, clinics, ambulatory surgical centers, and others. Hospitals hold the highest market share in the global market, owing to the rise in number of patients treated in ICUs, NICUs, and emergency departments, where the utilization of blood gas analyzers is high to treat patients in critical conditions.
Top Investment Pockets
Asia-Pacific is considered as the top investment pocket, owing to the significant growth opportunity offered by the region. Asia-Pacific blood gas and electrolyte analyzers market is projected to grow at a highest CAGR of 7.2% during the analysis period. The growth is attributed to the rise in investment from government agencies to provide better healthcare facilities for the large patient population, increase in incidence of chronic diseases, growth in healthcare expenditure, and surge in income level of the population.
Top Investment Pockets for Global Blood Gas Analyzer Market
Geographically, the market is divided into North America, Europe, Asia-Pacific, and LAMEA. North America held the leading position, owing to its well-developed healthcare industry, presence of leading blood gas & electrolyte analyzer manufacturers, and rise in number of patients treatment in the ICUs, NICUs, and emergency wards. Whereas, Mexico is growing at highest CAGR during the forecast period. However, Asia-Pacific is anticipated to grow at a highest growth rate with the increase in number of patients suffering from chronic diseases and rise in government initiatives for the improvement of the healthcare facilities.
Mexico Blood Gas Analyzer Market
- The study provides an in-depth analysis of the global blood gas and electrolyte analyzers market and current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis of the industry from 2016 to 2023 to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the market based on type, product/brand, and end user elucidate various trends and prevailing opportunities across segments.
- Key market players operating in the market are profiled to determine the competitive outlook of the market by studying the different products of the companies and their developments.
- The key players profiled in the report include Radiometer Medical Aps (A Subsidiary of Danaher Corporation) (Denmark), Instrumentation Laboratory (A Werfen Company) (U.S.), Siemens AG (Germany), Roche Diagnostics Limited (Switzerland), Abbott Laboratories, Inc. (U.S.), Nova Biomedical (U.S.), OPTI Medical Systems, Inc. (A Subsidiary of Idexx Laboratories, Inc.) (U.S.), ERBA Diagnostics Mannheim GmbH (Germany), Medica Corporation (U.S.), and Alere, Inc. (U.S.).
- List of the other players (not included in the report) Samsung Medison, Edan Instruments, Convergent Technologies, Dalko Diagnostics, Afford Medical Technologies, and Accurex Biomedical Pvt. Ltd.
Blood Gas Analyzer Market Key Segments
- By Product Type
- Blood Gas Analyzers
- Electrolyte Analyzers
- Combined Analyzers
- By Modality
- By Product Type
- i-Stat (Abbott Laboratories)
- GEM Premier (Instrumentation Laboratory)
- ABL Flex (Radiometer)
- Cobas (Roche Diagnostics)
- RAPID Series (Siemens Healthineers)
By End User
- Ambulatory Surgical Centers (ASC)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East