Blood gas analyzers are used for measuring the partial pressure of oxygen within the body of a patient. On the other hand, electrolyte analyzers are used for measuring the concentration of vital elements in the body. These vital elements include potassium, calcium, and sodium, among others. The market for blood gas and electrolyte analyzers has witnessed exponential growth and has reached to multiple component analyzer compact point of care devices from single parameter table-top devices.
The rising count of patients in emergency and critical care departments and the increasing demand for blood gas testing are amongst the prime factors fuelling the market for blood gas and electrolyte analyzers. In addition, the rising demand for point-of-care testing, the launch of cutting-edge technologies, and the rising expenditures on healthcare globally are further augmenting the growth of the market.
Introduction of Multi-parameter Monitoring Devices to Boost Blood Gas and Electrolyte Analyzer Market
The global blood gas and electrolyte analyzers market stood at US$1.4 bn in 2014 and is expected to reach US$3.5 bn in 2023. The market will rise at a 9.66% CAGR between 2015 and 2023. The rising global aging population is also a key factor boosting the growth of the market, as it triggers the occurrence of diseases such as cancer, diabetes, cardiovascular diseases, and respiratory disorders. Furthermore, the introduction of multi-parameter monitoring devices due to the rising demand for small-sized devices is also predicted to propel the blood gas and electrolyte analyzer market. The simplified operation of modern analyzers, making it possible for non-medical personnel to perform critical diagnosis in the shortest possible time, is also a prime factor propelling the market.
Advantages of Portable Analyzers to Propel Market Growth
On the basis of product type, the market is segmented into portable and benchtop analyzers. Amongst these, benchtop analyzers are big in size and consist of a display, i.e. LCD, a keypad for entering information, and a slot for insertion of a sample tube or test strip. On the other hand, portable analyzers enable bedside monitoring and are mobile in nature. Portable analyzers have a number of advantages such as self-monitoring abilities and low requirement for maintenance, portability, ease of use, reduced risk of manual errors, and task automation. Owing to these factors, the demand for portable analyzers is more as compared to that of benchtop analyzers.
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Europe and North America Together Held a Market Share of more than 60% in 2015
In terms of geography, the blood gas and electrolyte analyzer market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, Europe and North America collectively held the largest share of more than 60% in the market in 2015. This is owing to the advancement to multiple parameter analyzers from single parameter analyzers in these regions. In addition, the advancement in the infrastructure of hospitals and the consequent integration of blood gas analyzers with hospital management software due to government policy changes has also aided in the expansion of this market within these two regions.
The prominent players operating in the global blood gas and electrolyte analyzer market are Siemens, Abbott, Medica, Samsung Medison, Erba, Radiometer Medical, Alere Medical, Convergent Technologies, Afford Medical, Dalko Diagnostics, and Accurex Biomedical Pvt. Ltd., among others.
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