Market Research Future Has A Cooked Research Report on Global POC Blood Gas and Electrolyte Market. The POC Blood Gas and Electrolyte Market is growing at a rate of 7.8% and is expected show a similar trend during the forecast period.
POC Blood Gas and Electrolyte Market – Overview
Point of care blood gas and electrolyte analyzers helps to measure different parameters of whole blood samples, such as blood gas (pCO2 and pO2), pH, and electrolytes. The market is expected to grow at a CAGR of 7.8% during the forecast period and is estimated to cross USD 2,543.1 million by 2023.
It is one of the innovative concepts that is introduced in the field of critical care settings to deliver decentralized, patient-centric health care to the patients.
These devices are playing an important role in the field of healthcare and help in reducing therapeutic turnaround time, enhance patient satisfaction, accuracy, and quick test, and help to improve hospital operations. This new technology provides smaller handheld devices with advancements in diagnostic sensors.
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Point of care blood gas and electrolyte devices are used majorly in the area of hospitals where patients are being ventilated. Increase in the treatments in NICUs, ICUs, Cardiovascular Operating Room (CVOR), and emergency department has boosted the point of care blood gas and electrolyte devices market growth. Additionally, rising prevalence of chronic diseases and cancer fuels the market growth.
According to the Centers for Disease Control and Prevention, in 2015, the number of adults with diagnosed chronic bronchitis and emphysema were 9.3 million and 3.5 million respectively. Additionally, according to WHO in 2016, over 1.9 billion adults aged 18 years and older were obese, which was approximately 650 million. Overall 13% of world’s adult population (11% of men and 15% of women) were obese.
These diseases are the main cause of the immense growth of treatment in NICUs, ICUs, Cardiovascular Operating Room (CVOR), and emergency department. Point of care blood gas developers is now focusing on developing automated and user-friendly devices, which may lead the market of this product in the coming future. Healthcare expenditure across the world is rapidly increasing. From the last decade, healthcare expenditure in regions like the Americas and Europe has been growing rapidly. According to the Centers for Medicare & Medicaid Services, in 2015, the U.S. healthcare spending was increased by 5.8% and reached USD 3.2 trillion.
POC Blood Gas and Electrolyte Market – Key Players:
Siemens, Abbott,F. Hoffman-La Roche ,Radiometer, Nova medical, Edan Instruments ,And Instrumentation Laboratory.
POC Blood Gas and Electrolyte Market – Segmentation:
The global point of care blood gas and electrolyte gas devices market has been segmented on the basis of types and end users.
On the basis of the types, the market is segmented into consumables and Instruments. The instrument type is sub-segmented into benchtop and portable devices. The consumable devices are further segmented into reagents, cartridges, and others.
On the basis of the end users, the market is segmented into hospitals & clinics, home care, research institutions, and others.
POC Blood Gas and Electrolyte Market – Key Findings:
- Consumables product segment accounts for the largest market share of 61.5% while the instruments segment is projected to grow at a CAGR of 6.3% during the forecast period from 2017 – 2023
- Hospitals & clinics dominates the global POC blood gas and electrolyte market with nearly 58.4% share of the global market, by end users
- Americas POC blood gas and electrolyte market is estimated to be USD 600.2 million in 2016.
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POC Blood Gas and Electrolyte Market – Regional Analysis
The Americas dominate the global market owing to a huge population with chronic diseases such as diabetes, kidney, and liver disease, increasing government support for research & development, and high health care expenditure. According to the WHO, in 2014, 9.7% of the total America population is having diabetes. Thus, increasing prevalence of diabetes has boosted the market growth. Additionally, changing lifestyle and the presence of major players in the market have fuelled the growth of the market.
Europe is the second largest point of care devices market across the globe, which is followed by Asia Pacific. Asia Pacific is the fastest growing market and majorly driven by India and China owing to a huge number patients with chronic diseases and rapidly growing economy. According to the WHO, 60% of the global diabetic population lives in Asia Pacific region. The healthcare expenditure of Asia Pacific has increased over the last few years, which has contributed to the growth of the market.
The Middle East and Africa region account for the least share of the global market. Whereas, Africa holds the least share of the global market due to limited availability of medical facilities and poor economic condition of the region.
Major TOC of POC Blood Gas and Electrolyte Market Research Report – Global Forecast till 2023:
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global POC Blood Gas & Electrolyte, Product
7 Global POC Blood Gas & Electrolyte, End User
8 Global POC Blood Gas & Electrolyte, Region
9 Company Landscape
10 Company Profile
11 MRFR Conclusion
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