Blood Gas and Electrolyte Analyzers Market worth over $700mn by 2023
Published Date: February 8, 2017 Author: Global Market Insights, Inc.
Blood Gas and Electrolyte Analyzers Market size is set to exceed USD 700 million by 2023; according to a new research report by Global Market Insights, Inc.
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. Combined analyzers are identified as the most lucrative application segment of the blood gas and electrolyte analyzers market, projected to grow at a CAGR of 5.5%, during the forecast timeframe.
The growth in point of care (PoC) devices market is set to push the demand for blood gas and electrolyte analyzers market. Shortage of technical expertise to operate the devices and huge maintenance costs has led to increase in adoption of automated and self-contained devices. The use of PoC analyzers is driven by shift in healthcare delivery trend of delivering utmost patient care in fewer costs, by reducing their visits to hospitals and clinics.
The blood gas and electrolyte analyzers market is witnessing introduction of technological advancements in devices such as compact nature, and more sensitive test results, along with growing demand for multi-parameter monitoring equipment with high throughput. PoC analyzers offer significant growth potential, with over USD 240 million expected by 2023. In addition to this, large pool of geriatric population having high risk of acquiring chronic diseases should propel the market.
U.S. was the leading blood gas and electrolyte analyzers market with revenue share of over 34% of the overall industry. The region has shifted to patient-centric healthcare approach by adopting PoC diagnostics, leading to huge demand for blood analyzers. Germany blood gas and electrolyte analyzers industry is well established, with market size estimates to reach over USD 50 million by 2023. The high penetration of these devices in the region is attributed to adoption of advanced technology, and high prevalence of asthma and COPD
Asia Pacific and Latin America are likely to offer blood gas and electrolyte analyzers market potential growth platform in the coming years, due to huge presence of underserved asthma and COPD patients and tremendous improvement in healthcare infrastructure and facilities.
Browse key industry insights spread across 95 pages with 53 market data tables & 9 figures & charts from the report, “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” in detail along with the table of contents:
India was the fastest growing country in APAC in 2015 registering a CAGR of 10.5% during the forecast period. This is attributed to rise in awareness regarding diagnosis of asthma, and other respiratory disorders. India faces a challenge of air pollution leading to high prevalence rate of respiratory diseases.
The increasing prevalence of COPD in countries such as India increases the cost burden of disease on government and productivity leading to economic losses. Over 90% of COPD deaths occur in low and middle income countries, since most of the population here is exposed to harmful pollutants, occupational chemicals, and observe high rate of smoking.
Major companies operating in the blood gas and electrolyte analyzers market include Instrumentation Laboratories, Roche Diagnostics, Siemens Healthcare, Alera Medical, Radiometer, and among others.
Blood gas and electrolyte analyzers market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2012 to 2023, for the following segments:
- Blood Gas Analyzers
- Electrolyte Analyzers
- Central Laboratories
. The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East
- South Africa
- South Africa