Blood Gas and Electrolyte Analyzers Sales to Reach US$ 6.5 Billion by 2032 as Portable Blood Gas Analyzers Demand Surge by 5%
29 Aug 2022
Higher Efficacy of Blood Gas and Electrolyte Analyzers Driving their Adoption in ICUs and Emergency Care
The blood gas and electrolyte analyzers market analysis offered by Fact.MR provides in-depth analysis for the upcoming decade. The report provides a 360-degeree view of factors and trends prevailing in the market. In addition to this, the study analyzes latest trends across various segments such as product type, modality, and end user across regions.
NEW YORK, Aug. 29, 2022 /PRNewswire/ -- The global blood gas and electrolyte analyzers market is set to grow at 5.6% CAGR between 2022 to 2030, to reach
US$ 6.5 billion by 2030. Increasing use of blood gas and electrolyte analyzers in intensive care units (ICUs) and emergency departments is anticipated to drive the demand during the assessment period.
Blood gas and electrolyte analyzers are extensively used for the patients with conditions such as diabetes, hemorrhage, drug overdose, and others. These analyzers detect the blood levels, oxygen concentration, and several parameters for early diagnosis. The growing adoption of electronic health records (EHR) and development of advanced blood gas analyzers with laboratory information systems in the healthcare industry will boost the market.
Macroeconomic factors such as higher investment in healthcare services by governments across the world is also contributing to the growth of the market. For instance, according to World Health Organization (WHO), global spending on healthcare has consistently grown across the world and reached 10% of total GDP.
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Integration of advanced technology in healthcare devices has been a boon to the patients as well as the industry. Availability of portable blood analyzers coupled with introduction of automated analyzers have increased the demand in the market.
Portable and fully automated blood and gas electrolyte analyzers require only anticoagulated blood sample and can measure multiple parameters. Hence, healthcare professionals are using these to improve the handling process and for accurate blood tests. On the back of this, blood and gas electrolyte analyzer demand is predicted to surge by 1.5x over the forecast period.
By product type, blood gas analyzers is expected to be the leading segment, owing to its growing use in disease detection
By modality, portable blood gas and electrolytes are anticipated to remain the preferred choice in the healthcare industry owing to their ease of use and affordability
North America is expected to be the largest market, with the U.S. at forefront of demand
In terms of end user, diagnostic centers and clinical laboratories are expected to witness steady growth over the projection period.
South Asia is expected to be the most lucrative region, with India spearheading the growth in the market through 2022 & beyond
Growth Drivers:
Efficacy of blood gas and electrolytes in treating patients in critical and emergency situations is likely to drive demand during the assessment period
Consistent quality control and accuracy in error detection are making blood gas and electrolyte analyzers a preferred choice for healthcare providers
Lack of alternative devices and techniques for measuring oxygen concentration and other parameters for chronic illnesses will propel the sales
Restraints:
High cost of blood analyzers and electrolytes is likely to slow down their rate of adoption, especially in developing countries
Availability of refurbished devices and slow/non-approval of blood analyzers from FDA might impede the growth
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Leading blood gas and electrolyte analyzers market players are launching innovative products to cater to evolving demand of healthcare industry. Further, manufacturers are also showcasing their products at conferences to forge an alliance with the like-minded companies.
For instance,
OPTI Medical Systems announced it will be showcasing its next-gen blood gas and electrolyte analyzer at 2022 AACC Clinical Lab Expo. This innovative product does not use any electrodes which has allowed OPTI Medical Systems to offer this product at relatively lower price
Key Companies Profiled by Fact.MR
Sensa Core
Werfen
Cornley Hi-tech Co. Ltd.
F. Hoffman La Roche
ERBA Diagnostics Manheim GmbH
Perlong Medical Equipment Co. Ltd.
More Valuable Insights on Blood Gas and Electrolyte Analyzers Market
In the latest study, Fact.MR offers a detailed study on global blood gas and electrolyte analyzers market for the forecast period of 2022 to 2030. This study also highlights key drivers promoting the sales of blood gas electrolyte analyzers market with analysis across below segments:
By Product Type:
Electrolyte Analyzers
Blood Gas Analyzers
Consumables
By Modality:
Portable
Benchtop
Laboratory
By End User:
Other End Users
By Region:
North America
Latin America
Europe
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Key Questions Covered in the Blood Gas and Electrolyte Analyzers Market:
What is the projected value of the blood gas and electrolyte analyzers market in 2022?
At what rate will the global blood gas and electrolyte analyzers market grow until 2030?
Which are the factors hampering the growth in the blood gas and electrolyte analyzers market?
Which region is expected to lead in the global blood gas and electrolyte analyzers market during 2022-2030?
Which are the factors driving the demand for blood gas and electrolyte analyzers?
What is the expected market value of blood gas and electrolyte analyzers during the forecast period?
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About Fact.MR
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