The market research report ‘Global Blood Gas and Electrolyte Analyzers Industry, 2017 Market Research Report’ aims to offer insights into new business opportunities for companies active in Blood Gas and Electrolyte Analyzers as well as for those players that are aiming to get an entry into the industry.
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.
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.
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The growth in point of care (PoC) devices market is set to push the demand for blood gas and electrolyte analyzers market.
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
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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.
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.
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