Published: May, 2018
An up to date business and commerce study compiled at the headquarters of Transparency Market Research (TMR) has detected that the blood gas and electrolyte analyzers market in the European and Middle East region is highly consolidated. Currently, the top three companies, viz. Siemens Healthcare, Radiometer, and Instrumentation Laboratories, collectively hold more than half of the total shares and are expected to maintain their stronghold in the near future too. Going forward, innovation is foreseen to remain the key strategy for these major players. For instance, new technologies in blood gas and electrolyte analyzers are armed with wireless connectivity for integration with other hospital management software. This has helped in minimizing errors and save time and efforts. Discovery of novel biomarkers is expected to further expand the scope of application of blood gas analyzers in the near future.
The analyst of this market research report identifies Radiometer as a pioneer. The company has wide portfolio of blood gas and electrolyte analyzers, with major brands including ABL800, ABL90 FLEX, and ABL80 FLEX. As far as the threat of new entrants is concerned, blood gas and electrolyte analyzers make for a technology driven market. Large medical device manufacturers can expand product portfolio to include blood gas and electrolyte analyzers. Furthermore, prominent companies can also enter the market through mergers and acquisitions. Low competition and faster market growth has made the market attractive.
As per the projections provided in the TMR report, the EME blood gas and electrolyte analyzers market will be worth US$170.5 million by the end of 2024, with the demand estimated to expand at a CAGR of 4.7% during the forecast period of 2016 to 2024. Among the modality segments, portable, benchtop, and laboratory, the latter is currently most profitable. The report also bifurcates the blood gas and electrolyte analyzers market on the basis of product type, into electrolyte analyzers, blood gas analyzers, combination analyzers, and consumables. End-user classification of the market has been done into clinics, hospitals, ambulatory surgical centers, and diagnostic centers. Geographically, the report has estimated the valuation of EU5 including Germany, Italy, the U.K., France, and Spain, Nordic, and the Middle East including Saudi Arabia, UAE, and Turkey.
Miniaturized and Portable Devices Gaining Adoption
Consistent improvements made to the medical devices and the advent of recent miniaturized blood gas analyzers have been a boon for the market. These radically smaller analyzers are apt at exploring variety of parameters and are capable of delivering results in a short span of time. Owing to the swiftness, physicians can prescribe therapies accurately and detect disorders at an early stage. This portability has also gone a long way in finding new revenue avenues from the end-use segments of ambulatory care and emergency rooms. Increasing population of geriatrics and consequently the prevalence of chronic diseases, inadequacy of alternative techniques, need to reduce cost of critical care, and growing adoption of point of care (PoC) analyzers are some of the other factors augmenting the demand in the EME blood gas and electrolyte analyzers market.
On the other hand, complexities in operations, unfavorable reimbursement policies in a number of emerging economies, and the need for an adequate data analysis software are a few restraints holding back the prosperity of this market.
- The demand in the EME blood gas and electrolyte analyzers market will multiply at a formidable CAGR of 4.7% during 2016 to 2024
- The shares are substantially consolidated among a handful of major players
The information presented in this review is based on a Transparency Market Research report, titled, “Blood Gas and Electrolyte Analyzers Market (Modality - Laboratory, Benchtop, and Portable; Product Type - Blood Gas Analyzers, Electrolyte Analyzers, Combination Analyzers, and Consumables): EME Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
Key Segments of the EME Blood Gas and Electrolyte Analyzers Market
- By Modality
- By Product
- Blood Gas Analyzers
- Electrolyte Analyzers
- Combination Analyzers
- By End-user
- Diagnostic Centers
- Ambulatory Surgical Centers
- By Region and Country
- Rest of Europe
- Middle East
- Saudi Arabia
- Rest of Middle East
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