North America is expected to dominate the global blood gas and electrolyte analyzer market during the forecast period.
North America is expected to dominate the global blood gas and electrolyte analyzer market during the forecast period. However, the market is growing at a faster rate in the developing countries, owing to the increase in the number of patients suffering from chronic diseases and improvement in the healthcare facilities.
The global blood gas and electrolyte analyzers market was valued at $1,427 million in 2016, and is projected to garner $2,104 million by 2023, registering a CAGR of 5.7% from 2017 to 2023.
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Blood gas analyzers are used to measure different parameters, such as pH, blood gas (pCO2 and pO2), electrolytes, and metabolites, from the whole blood samples. Growth in number of patients being treated in ICUs, NICUs, and emergency departments; rise in number of patients suffering from chronic diseases; technological advancement in blood gas & electrolyte analyzers, and increase in number of product approvals are the major factors driving the market growth. However, complexity involved in the interpretation of data act as a restraining factor for the market growth. Increase in investment by major medical diagnostics giants and improvement in healthcare facilities in Asia-Pacific provides growth opportunities for the market.
Key Findings of the Blood Gas and Electrolyte Analyzers Market
- In 2016, the portable analyzer segment accounted for the highest share of the global blood gas & electrolyte analyzers market.
- The ABL Flex segment contributed the highest revenue to the global market in 2016.
- The hospital segment is projected to grow at the highest CAGR of 5.9% during the forecast period.
- North America market is projected to grow at a CAGR of 4.4% from 2017 to 2023.
Based on product/brand, it is classified into i-STAT, GEM Premier, ABL Flex, RAPID series, Cobas, and other blood gas analyzers. The ABL Flex segment holds the highest share in the global market, as it offers wide range of products ranging from portable to benchtop blood gas analyzers. Based on end user, it is categorized into hospitals, clinics, ambulatory surgical centers, and others. Hospitals hold the highest market share in the global market, owing to the rise in number of patients treated in ICUs, NICUs, and emergency departments, where the utilization of blood gas analyzers is high to treat patients in critical conditions.
Geographically, North America dominated the global market in 2016, and is estimated to continue its dominance during the forecast period. This is attributed to higher adoption for technologically advanced devices, well-equipped healthcare facilities, and rise in admission of patients in ICUs, NICUs, and emergency departments.
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Leading market players
- Instrumentation Laboratory (A Werfen Company) (U.S.)
- Siemens AG (Germany)
- Roche Diagnostics Limited (Switzerland)
- Abbott Laboratories, Inc. (U.S.)
- Nova Biomedical (U.S.)
- OPTI Medical Systems, Inc. (A Subsidiary of Idexx Laboratories, Inc.) (U.S.)
- ERBA Diagnostics Mannheim GmbH (Germany)
- Medica Corporation (U.S.)
- Alere, Inc. (U.S.)
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