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.
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.
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.
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.
Key companies operating in the global blood gas and electrolyte analyzers market include Instrumentation Laboratories, Radiometer, F. Hoffmann-La Roche Ltd., Siemens Healthineers, and Abbott. Major manufacturers operating in the market are engaged in continuous research & development activities to expand their existing product portfolio. F. Hoffmann La Roche Ltd. invested US$ 10,560.3 Mn in R&D activities in 2017 to expand its product portfolio and discover new technologies or solutions.
Blood Gas and Electrolyte Analyzers Market - Overview
This report studies the current as well as future prospects of the global blood gas and electrolyte analyzers market. Stakeholders of this report include companies and intermediaries engaged in the manufacture, commercialization, and provision of blood gas and electrolyte analyzers and new players planning to enter the market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments considered in the scope of the study. This section also provides the overall information and data analysis of the global blood gas and electrolyte analyzers market with respect to the leading segments based on product type and region.
Based on product type, the global blood gas and electrolyte analyzers market has been categorized into blood gas analyzers, electrolyte analyzers, combination analyzers, and consumables. Each of the segments has been extensively analyzed based on market related factors such as incidence and prevalence of major chronic diseases. Moreover, historical year-on-year growth has been taken into consideration while estimating the market size. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2016 to 2026. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2018 to 2026, considering 2017 as the base year.
The overview section of the report analyzes market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the global blood gas and electrolyte analyzers market and are likely to influence it in the near future. Market attractiveness analysis has been provided in the overview section in order to explain the intensity of competition in the market across different regions. The competitive scenario among market players has been evaluated through market share analysis in the competitive landscape section of the report. All these factors are expected to help market players take strategic decisions to strengthen their positions and expand their shares in the global blood gas and electrolyte analyzers market.
In terms of geography, the global blood gas and electrolyte analyzers market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market size and forecast for each of these regions have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. The report also provides the market size and forecast for major countries/sub-regions in the respective regions. A detailed qualitative analysis of factors responsible for driving and restraining the market and opportunities has been provided in the market overview section. This section of the report also provides market attractiveness analysis, Porter’s Five Forces analysis, and market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global blood gas and electrolyte analyzers market.
Key players operating in the global blood gas and electrolyte analyzers market include Radiometer Medical ApS, F. Hoffmann-La Roche Ltd., Nova Biomedical, Siemens Healthineers, Abbott Laboratories, Instrumentation Laboratories (Werfen), Medica Corporation, and ERBA Diagnostics, Inc.
The global blood gas and electrolyte analyzers market has been segmented as follows:
Global Blood Gas and Electrolyte Analyzers Market, by Product Type
- Blood Gas Analyzers
- Electrolyte Analyzers
- Combination Analyzers
Global Blood Gas and Electrolyte Analyzers Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa