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Increasing incidence of chronic diseases leading to diabetes and other cardiovascular diseases is a major driving the Blood Gas Analyzer Market during

HYDERABAD, TELANGANA, INDIA, February 6, 2023 /EINPresswire.com/ -- Blood Gas Analyzer Market size is estimated to be $3 billion in 2019, growing at a CAGR of 6.5% during the forecast period 2020-2025. Rapid urbanization, changing lifestyles, wrong eating habits, obesity, cardiovascular disease, and technological advancements in blood gas analyzer is a major factor driving the blood gas analyzer market during the forecast period 2020-2025. Furthermore, a blood gas analyzer is a technique used to measure the concentration of bicarbonate, partial pressure of oxygen, and carbon dioxide in the lungs and to determine oxygen saturation to evaluate lung function. Furthermore, Sphere Medical introduced Proxima a miniature in-line-blood gas analyzer that supports rapid and frequent blood gas measurements at critical times. Moreover, according to the National Heart, Lung and Blood Institute Atherosclerotic Risk in Communities (ARIC) study and Cardiovascular Health Study(CHS), there are 1,260,000 new and recurrent coronary attacks per year- about 37% of people experience a coronary attack in a given year die from it. Furthermore, the use of medical diagnosis to determine a patient's disease and the use of radial artery puncture to obtain a sample of arterial blood for gas analysis is contributing to its market growth.

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Key Takeaways

1. Modality Portable accounted for the largest market share in 2019 owing to its ease of availability of handling.

2. Point-of-Care accounted for the largest market share in 2019 owing to the increasing demand for rapid diagnostics near patients’ bedside and reducing healthcare expenditure by avoiding long hospital stays.

3. North America dominated the Blood Analyzer Market owing to the rising geriatric population along with the increase in angina pectoris, increasing health concerns along with the growing demand for advanced treatment and a better healthcare structure is a major factor driving its market growth.

4. The increasing incidence of chronic diseases leading to diabetes and other cardiovascular diseases is a major driving the Blood Gas Analyzer Market during the forecast period 2020-2025.

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Segmental Analysis:

1. By Modality Portable is projected to be growing with a CAGR of 6% during the forecast period 2020-2025. This is owing to its ease of availability of handling. Furthermore, Radioactive offers a wide selection of blood gas analyzers with features and functionality in order to meet the patient's demand. Technological advancement and growing innovation in blood gas analyzers are major factors driving its market growth. Furthermore, for medium-to-high volume settings, ABL800 blood gas analyzers offer a high throughput and reliable automated sample handling with Drop n Go capability, which means there is no need to wait at the analyzers for the results.

2. Point-of-Care accounted for the largest market share in 2019 owing to the increasing demand for rapid diagnostics near patients’ bedside and reducing healthcare expenditure by avoiding long hospital stays. Reduction in the length of hospital stay is one of the major advantages of point-of-care testing. The rapid availability of a result reduces the time to make a decision, thereby allowing more rapid triage, treatment, or discharge. Furthermore increasing number of chronic diseases and respiratory acidosis in patients being admitted to ICU, NICU, and ED in hospitals is a major factor driving the Blood Gas Analyzer Market during the forecast period 2020-2025.

3. North America dominated the Blood Gas Analyzer Market with a region share of 40% in 2019 followed by Europe and APAC. The rising geriatric population along with the increase in angina pectoris, increasing health concerns along with the growing demand for advanced treatment and a better healthcare structure is a major factor propelling its market growth. Moreover, according to the Centers for Disease Control and Prevention about 647,000 Americans die from heart disease each year-that is 1 in every-4 deaths.

Competitive Landscape:

The top 5 players in the Blood Gas Analyzer Industry are -

1. Abbott Laboratories
2. Roche Diagnostics
3. Instrumentation Laboratory
4. Siemens Healthcare
5. RadioMeter Medical

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