The Europe and Middle East (EME) blood gas and electrolyte analyzers market is intensely consolidated as the top three companies accounting for a combined share of more than 65% in 2015, states Transparency Market Research (TMR). These top companies are Siemens Healthcare GmbH, Instrumentation Laboratories, and Radiometer. Leading players are making substantial investments in research and development (R&D) to manufacture high-performing portable devices to strengthen their market presence.
In recent years, the market has witnesses a significant shift in uptake from conventional table-top analyzers to handheld portable devices, notes TMR. As a result, several manufacturers are making large investments in developing a variety of portable and multi-parametric patient monitoring devices. This is expected to significantly shape the competitive landscape in the foreseeable future.
The Europe and Middle East market for blood gas and electrolyte analyzers is projected to rise at 4.7% CAGR from 2016 to 2024. The opportunities in the market stood at US$114.4 mn in 2015 and is anticipated to surge to US$170.5 mn by the end of 2024.
Combination Analyzers to Gain Prominence across Various Hospital Departments
The primary geographic regions in the EME blood gas and electrolyte analyzers market are Nordics, EU5, and the Middle East; of these, the European Union Five (EU5) regional market contributed the major share of 74.0% in 2015. The region is expected to maintain its dominance throughout the forecast period. The growth in this regional market is driven by a robust healthcare spending focused on enhancing the quality of care, especially in critical care units.
The major product segments in the Europe and Middle East blood gas and electrolyte analyzers market are consumables, electrolyte analyzers, blood gas analyzers, and combination analyzers. Among these, the combination analyzers segment is the most promising and is expected to expand at a significant CAGR of 6.1% during the forecast period. The substantial demand for combination analyzers is propelled by their ability to provide a combination of tests in various hospital departments.
The growing prevalence of chronic diseases in several countries in EME and a general rise in geriatric population are key factors stimulating the demand for blood gas and electrolyte analyzers. A rapidly increasing patient population, especially in emergency departments (EDs) and intensive care units (ICUs), has led to a substantial uptake of blood gas and electrolyte analyzers for detecting electrolyte imbalances required for various ailments such as cardiovascular, kidney, and lung diseases. The marked and continued shift from laboratory-based analysis to point-of-care testing (POCT) has spurred the demand for portable and advanced blood gas and electrolyte analyzers, thereby catalyzing the market. In recent years, significant R&D efforts have been focused on developing multiple combination analyzers that can be used for a variety of tests and offer rapid diagnostic results. This is expected to create abundant opportunities for vendors in various countries of Europe and the Middle East.
The lack of trained expertise and clinicians in various remote areas of Europe and the Middle East is likely to impede the demand for blood gas and electrolyte analyzers to an extent. Nevertheless, the launch of high-throughput and reliable blood gas and electrolyte analyzer equipment meant for POCT by medical device manufacturers has improved the response time for emergency patients and improved the quality of care. This has boosted the EME blood gas and electrolyte analyzers market. Furthermore, the surge in popularity of point-of-care diagnostic devices is expected to bolster the demand for light-weight blood gas and electrolyte analyzers, thereby accentuating the market.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Blood Gas and Electrolyte Analyzers Market (Modality – Benchtop, Laboratory, and Portable; Product Type – Electrolyte Analyzers, Blood Gas Analyzers, Combination Analyzers, and Consumables; End User – Clinics, Hospitals, Ambulatory Surgical Centers, and Diagnostic Centers) - EME Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The Europe and Middle East (EME) blood gas and electrolyte analyzers market is segmented based on:
- Electrolyte Analyzers
- Blood Gas Analyzers
- Combination Analyzers
- Ambulatory Surgical Centers
- Diagnostic Centers
- Rest of Europe
- Middle East
- Saudi Arabia
- Rest of Middle East
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