Blood Gas and Electrolyte Analyzers Market Size By Product (Benchtop, Portable), By Application (Blood Gas Analyzers, Electrolyte Analyzers, Combined), By End-User (Central Laboratories, Point-of-care) Industry Analysis Report, Regional Outlook (U.S., Germany, France, Spain, India, China, Japan, Brazil, Mexico, South Africa), Growth Potential, Price Trend, Competitive Market Share & Forecast, 2016 - 2023
Published Date: May 2016 | 95 Pages | Report ID: GMI428 Report Format: PDF
Blood Gas And Electrolyte Analyzers Market size was over USD 480 million for 2015, with more than 4.5% CAGR.
Germany Blood Gas & Electrolyte Analyzers Market Size, by Product, 2012- 2023 (USD Million)
Growing prevalence of chronic diseases has led to significant increase in traffic of emergency cases creating a huge demand for blood gas and electrolyte analyzers, while the increase in need for PoC analyzers should further spur the global blood gas & electrolyte analyzers market.
Rising geriatric population should also accelerate the blood gas and electrolyte analyzers market. WHO estimates the world population aged 65 years and over should be as high as 16% by 2050.
Rising age is a high risk factor for acquiring chronic diseases, and cancer development, development. These cases require frequent testing of blood gas testing, as well as various PoC diagnostic evaluations, thus, the projected rise in the number of aged people should propel the demand for the blood gas and electrolyte analyzers during forecast period.
Citing, the upsurge in demand for integrated and high throughput systems, various blood gas and electrolyte analyzers are introduced in the market that can be integrated with electronic health records. This has aided in reducing manual errors, and improving work efficiency, driving the adoption of blood gas and electrolyte analyzers. Moreover, the shift in trend towards use of PoC (point of care) diagnostics solutions to reduce costs and offer quality patient care has should also positively affect the blood gas and electrolyte analyzers market.
Blood Gas and Electrolyte Analyzers Market, By Product
Portable analyzers market was valued over 300 million in 2015, dominating the blood gas & electrolyte analyzers market. Portable product demand is particularly driven by growing adoption of PoC analyzers owing to the benefits associated with it such as faster results, and quick turnaround time.
Moreover, portable analyzers are accompanied by computer aided documentation, calibration, and analysis of various tasks performed reducing the number of manual errors, and time required for analysis.
Blood Gas and Electrolyte Analyzers Market, By End-User
Major end-user segments for blood gas & electrolyte analyzer market include central laboratories, and PoC. The central laboratories segment is slated to generate largest revenue of over USD 300 million in 2015. This is due to huge traffic of chronic disorder patients and high penetration of multi-parameter and integrated systems in such settings.
However, PoC setting should grow faster than central laboratories during the forecast period owing to its benefits such as reduced turnaround time and less clinical decision time. The blood gas and electrolyte analyzers market growth should be restricted due to limited adoption for home care at remote locations. This is expected to happen due to shortage of technical expertise in remote areas. It is a challenging task to understand the complex functioning of these devices, as well as interpret the results in correct manner.
Blood Gas and Electrolyte Analyzers Market, By Application
Combined analyzers segment grabbed largest revenue share of 58% in 2015, and is identified as the most lucrative application segment of the market, witnessing a CAGR of 5.5% during forecast period.
Combined analyzers segment is analyzed to witness escalating gains mainly due to increased usage of product in emergency cases, and ICU. The increased usage is attributed to its dual functionality of blood gas testing and electrolyte analyzing using one sample for blood creatinine, nitrogen, urea, and electrolytes.
Blood Gas and Electrolyte Analyzers Market, By Region
U.S. blood gas & electrolyte analyzers market dominated the global demand for 2015, with forecast market size to reach over USD 200 million by 2023. Growing prevalence of chronic diseases resulting into huge traffic of patients into the CCU, and emergency wards, is the major factor stimulating the product demand in the region.
Asia Pacific blood gas and electrolyte analyzers market is forecast to witness significant gains by 2023, due to significant growth across China, South Korea & India. These countries have huge underserved medical needs due to high prevalence of hypertension, diabetes, and cancer. Further, increasing awareness regarding chronic diseases among patients, and improving healthcare access for treatment should further boost the industry growth.
LATAM blood gas and electrolyte analyzers market was predominantly driven by Brazil, while South Africa contributed to the growth of MEA blood gas and electrolyte analyzers.
Competitive Market Share
Global blood gas & electrolyte analyzers market is garnered by various giant players with strong financial muscle, as well as local and regional participants. Acquisitions and collaborations remain the predominant strategic move adopted by most of the market players to expand product portfolio and geographic reach. However, presence of local manufacturers and refurbished instruments should create strong competition in the blood gas and electrolyte analyzers market.
Other key players in the market space include Roche Diagnostics, Radiometer, Instrumentation Laboratories, Inc. Siemens Healthcare, Cerner Corporation, Alera Medical, and among others.
Blood Gas and Electrolyte Analyzers Industry Background
The blood gas and electrolyte analyzers market is marked by presence of favorable political initiatives. For instance, guidelines were issued by American Association of Respiratory Care (AARC) for promote use of blood gas and electrolyte analyzers in healthcare facilities in 2013. Government is also taking efforts to regularize quality standards of quality across regions in order to standardize product quality and technical features. Apart from this various regulatory bodies such as U.S. FDA and C.E. in European countries are present to regulate the device approval process and publish the necessary compliance guidelines. In terms of technological advancements, the industry is witnessing dynamics sue to introduction hand held, portable, integrated and high throughput systems. Moreover, the newly introduced devices also have facility to integrate electronic medical records and improve the workflow efficiency across healthcare facilities.
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