Blood Gas

Blood gas and electrolyte analyzers market was valued at $1,698.7 Million in 2020, is projected to reach $2,625.23 Million by 2030, registering a CAGR of 4.4%

PORTLAND, OREGON, UNITED STATES, August 16, 2022 /EINPresswire.com/ -- What is blood gas and electrolyte analyzer?

Blood gas & electrolyte testing is used in a number of critical care situations. It is considered the most important tool for diagnosis in patients with either respiratory or metabolic abnormalities.

Blood gas analyzers are used to measure different parameters, such as pH, blood gas (pCO2 and pO2), electrolytes, and metabolites, from the whole blood samples. Growth in number of patients being treated in ICUs, NICUs, and emergency departments; rise in number of patients suffering from chronic diseases; technological advancement in blood gas & electrolyte analyzers, and increase in number of product approvals are the major factors driving the market growth. However, complexity involved in the interpretation of data act as a restraining factor for the market growth. Increase in investment by major medical diagnostics giants and improvement in healthcare facilities in Asia-Pacific provides growth opportunities for the market.

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The global blood gas and electrolyte analyzers market size was valued at $1,698.7 Million in 2020, and is projected to reach $2,625.23 Million by 2030, registering a CAGR of 4.4% during the forecast period.

The growth of the global blood gas and electrolyte analyzers market is attributed to rise in geriatric population, increase in prevalence of chronic diseases, and surge in development for point of care devices. Moreover, increase in healthcare expenditure is expected to further drive the market growth during the forecast years.

The growth of the blood gas and electrolyte analyzers market is majorly driven due to the rise in prevalence of chronic diseases, rise in global geriatric population, and increase in awareness for early diagnosis. In addition, growing number of patients being treated in NICUs, ICUs, and emergency departments, rapid urbanization, and consumption of unhealthy food significantly boost the blood gas and electrolyte analyzers market growth.

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.

Geographically, North America dominated the global market in 2021, and is estimated to continue its dominance during the forecast period. This is attributed to higher adoption for technologically advanced devices, well-equipped healthcare facilities, and rise in admission of patients in ICUs, NICUs, and emergency departments.

North America accounted for a majority of the global blood gas and electrolyte analyzers market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in prevalence of chronic disease, technological advancements, presence of key players, and rise healthcare expenditure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in geriatric population, rise in R&D activities, and increase in investments in the healthcare sector in the region.

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Key Findings Of The Study:

By product type, consumables were the highest contributor to the market in 2020.

By end user, hospitals were the highest contributor to the blood gas and electrolyte analyzers market in 2020.

By region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

Key Market Players:

Abbott Laboratories Danaher Corporation(Radiometer), F.Hoffmann-La Roche AG, IDEXX Laboratories,Inc.(OptiMedicalSystems,Inc.), Medica Corporation, Nova Biomedical, Sensa Core Medical Instrumentation Pvt.Ltd., Siemens AG(Siemens Healthineers), Transasia Bio-Medicals Ltd.(Erba Diagnostics Mannheim Gmbh), Werfen Science SA,

David Correa
Allied Analytics LLP
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