Blood Gas & Electrolyte Analyzers Market Worth USD 5.7 Billion by 2026: Global Market Insights, Inc.
North America blood gas & electrolyte analyzers market is poised to exceed USD 2 billion by 2026 owing to increasing healthcare spending in the region along with presence of well-developed infrastructure
SELBYVILLE, Del., March 30, 2020 (Newswire.com) - Global Market Insights, Inc. has recently added a new report on the blood gas & electrolyte analyzers market which estimates the global market valuation for blood gas & electrolyte analyzers will cross US$ 5.7 billion by 2026. Growing burden of chronic disease worldwide will drive market growth.
Increasing prevalence of chronic diseases is expected to surge the demand for blood gas & electrolyte analyzers in developed as well as in developing economies. The rise in number of patients treated in emergency department, NICUs, ICUs will accelerate the market growth. Moreover, the integration of blood gas analyzers with laboratory information systems and electronic medical records are providing lucrative opportunities for market expansion. These integrated systems monitor a patient’s health and streamline the workflow. Thus, increasing usage for these analyzers to obtain quick and accurate results for electrolytes, blood gases, acid-base balance, glucose, ionized calcium and lactate, among others, will upsurge the product adoption in various disease conditions.
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Portable blood gas & electrolyte analyzers market held around 60% revenue share in 2019 and is estimated to witness similar growth during the forecast timeframe. The segmental growth is attributed to continuous innovations and improvements in technology, leading to novel product development. Furthermore, increasing preference towards portable analyzers to minimize the pre-analytical errors associated with centralized testing will foster segment growth during the analysis period.
The rising demand for miniaturization of point-of-care (POC) blood gas analyzers and technology-integrated combined systems is expected to provide opportunities for market growth. Furthermore, aging is usually accompanied by many health-related complications that increase the need for regular diagnosis and checkups. Increasing adoption of blood gas and electrolyte analyzers along with rapid developments in the healthcare industry will thus prove beneficial for industry growth. However, high product costs and lack of reimbursement may restrict the market growth in emerging economies.
Combined analyzers segment accounted for significant revenue in 2019 and is projected to show more than 7.5% CAGR throughout the analysis period. Dual functioning ability of these analyzers to test blood gas and analyze blood urea, nitrogen, creatinine and electrolytes will upsurge its adoption during the forthcoming years. Moreover, combined analyzers provide accurate and quick results for acid-base balance, electrolytes, ionized calcium, blood gas, lactate and glucose, thus fostering the segment growth.
Browse key industry insights spread across 120 pages with 156 market data tables & 12 figures & charts from the report “Blood Gas and Electrolyte Analyzers Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Point-of-care segment was valued over USD 1.5 billion in 2019 and is estimated to show lucrative growth during the forecast timeline. Point-of-care devices offer rapid analysis at the bedside, due to its ease of use, short turn-around time and portability. As per the American Diabetes Association, point-of-care (POC) glucose meters have demonstrated and proved to be substantially useful in managing glycemic levels in diabetic patients. Increasing usage of blood gas analyzers in emergency departments and in operating rooms to monitor mechanically ventilated patients will further upsurge the revenue size.
North America blood gas and electrolyte analyzers market dominated the global market in 2019 and is poised to exceed USD 2 billion by 2026. Regional market growth is attributed to increasing healthcare spending in the region along with the presence of well-developed infrastructure. The healthcare facilities in North America are integrating wireless connectivity and POC devices to ensure better outcomes. Hence, large-scale adoption of portable, handheld and advanced blood gas & electrolyte analyzers will ultimately contribute to the regional market growth.
Some major findings of the blood gas & electrolyte analyzers market report include:
- Industry players are focusing on development of technologically advanced products. For instance, Radiometer has developed an ABL9 blood gas analyzer that provides reliable results in as little as 77 seconds on 70 microliters of blood.
- The International Diabetes Federation stated that, in 2019, approximately 463 million patients globally were suffering from diabetes and the number is expected to reach 700 million by 2045.
- The European Heart Network states that cardiovascular disease (CVD) causes more than 1.8 million deaths in the European Union (EU) and around 3.9 million deaths in Europe.
Some of the prominent players operating in the blood gas & electrolyte analyzers market share include Abbott, Dalko Diagnostics, Convergent Technologies, Edan Instruments and Medica Corporation, among others. The companies majorly focus on innovative product launches and inorganic strategies such as mergers and acquisitions to strengthen their product portfolio and maintain market position.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Blood gas & electrolyte analyzers industry 360° synopsis, 2015-2026
2.1.1. Business trends
2.1.2. Modality trends
2.1.3. Product trends
2.1.4. End-use trends
2.1.5. Regional trends
Chapter 3. Blood Gas and Electrolyte Analyzers Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
184.108.40.206. Rising prevalence of chronic disease worldwide
220.127.116.11. Technological advancements
18.104.22.168. Increasing demand for integrated system
22.214.171.124. Growing elderly population base in developed countries
3.3.2. Industry pitfalls & challenges
126.96.36.199. High cost associated with product
188.8.131.52. Complex regulatory scenario
3.4. Growth potential analysis
3.4.1. By modality
3.4.2. By product
3.4.3. By end-use
3.5. Porter’s analysis
3.6. Competitive landscape, 2019
3.6.1. Strategy dashboard, 2019
3.7. PESTEL analysis
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Categories: Healthcare and Medical Informatics