Blood Gas and Electrolyte Analyzers Market – Snapshot
Blood gas and electrolyte analyzers are the most popular diagnostic devices. Blood gas analyzer measures partial pressure of oxygen in a patient’s bod. Electrolyte analyzer measures concentration of vital elements such as sodium, potassium, and calcium. These tests along with others help in accurate diagnosis of various chronic conditions such as asthma, chronic obstructive pulmonary disease (COPD), kidney failure, heart failure, uncontrolled diabetes, severe infections, and drug overdose. The global blood gas and electrolyte analyzers market was valued at US$ 1.7 Bn in 2017 and is projected to expand at a CAGR of 9.0% from 2018 to 2026 to reach US$ 3.0 Bn by 2026. The global market is anticipated to be driven by high preference for portable or hand-held automated analyzers.
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Technological advancements in existing products is a significant trend in the global blood gas and electrolyte analyzers market. Advanced analyzers have reduced turnaround time and offer enhanced patient care with accurate results. ABL90 FLEX analyzers developed by Radiometer have dramatically shortened turnaround time and deliver results on 19 parameters in just 35 seconds. Other new products such as GEM Premier 5000 system by Instrumentation Laboratories, cobas m 511 Integrated Hematology Analyzer by Roche, ABL9 Blood Gas Analyzer by Radiometer with reduced turnover time and enhanced efficiency and productivity are expected to drive demand for blood gas and electrolyte analyzers in the next few years. However, shortage of skilled health care professionals in the developing regions to operate advanced blood gas analysis devices is likely to restrain the global market during the forecast period.
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The global blood gas and electrolyte analyzers market has been segmented based on product type and region. In terms of product type, the market has been classified into blood gas analyzers, electrolyte analyzers, combination analyzers, and consumables. The combination analyzers segment held majority of share of the global blood gas and electrolyte analyzers market in terms of revenue in 2017. Paradigm shift from traditional central laboratory blood gas analyzers to point-of-care testing devices and rise in demand for multi-parameter monitoring are expected to propel the combination analyzers segment.
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In terms of region, North America accounted for the largest share of the global blood gas and analyzers market in 2017, followed by Europe. Increase in adoption of advanced technologies and large geriatric population in Germany are the major factors contributing to the growth of the market in Europe. However, Asia Pacific is projected to offer significant opportunities during the forecast period from 2018 to 2026, owing to rise in awareness about blood disorders, increase in incidence of chronic diseases, and surge in focus of key players in emerging markets such as China and India.
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