Blood Gas and Electrolyte Analyzer Market is anticipated to rise at a CAGR of 5.1% from 2020 to 2030

The Global Blood Gas and Electrolyte Analyzer Market size is estimated to be USD 1.69 billion in 2019 and is predicted to reach USD 2.91 billion by 2030 with a CAGR of 5.1% from 2020-2030. Blood gas analyzer are used to measure pH and the partial pressures of oxygen and carbon dioxide and electrolyte analyzer are used to measure electrolytes in body fluids such as serum, plasma and urine.

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Traditionally, blood gas and electrolyte analysis was performed in the clinical laboratory using a bench-top analyzer. Bench-top critical care analyzers feature individual biosensor technology, broadest test menu and lowest cost of operation. However, with advancements in technology, blood gas analyzers have become progressive and enable patient record management more easily. With current advancements, analyzers have become smaller in size and easier to use. These products have gradually migrated into point of care (POC) areas. Point of care analyzers are designed to provide acid-base measurements at the bedside. These advanced products are easy to use in emergency departments where these analysers help to monitor mechanically ventilated patients. Modern analyzers have computer interfaces and internal algorithms to calculate pertinent parameters such as correction for body temperature, and calculations of oxygen saturation. These advancements make the use of blood gas and electrolyte analyzers easy and safe and opens new avenues in the market.

Market Dynamics and Trends:

Since past few years, there has been a gradual rise in geriatric population which has led in increase in the number of patients suffering with various chronic diseases such as cardiac disorders, renal diseases and so on. This has amplified the patient population in hospitals, emergency departments and critical care units and in turn has fuelled the demand for blood gas and electrolyte analyzers. Also, factors such as reduction in critical care cost, increasing demand for POC analyzers, and technological advancements are some additional factors driving the growth of the blood gas and electrolyte analyzer market. However, concerns with the accuracy of results and interpretation of data, and government regulations regarding quality control of the analyzers can limit the market growth during the forecast period.

Most of the players in this market are focusing on developing and providing such good quality analyzers. Product development and launches is adopted as a major growth strategy by the established and emerging companies. For instance, in April 2017 Radiometer received approval from Health Canada for its latest point of care blood gas analyzer, the ABL90 FLEX PLUS with MicroMode and automated inlet. In 2018 this analyzer was made available in a new PLUS version. In addition to this companies also focus on strategic collaborations and expansion to expand its existing product line and enhance its position in the blood gas and electrolyte analyzer market.

Market Segmentations and Scope of the Study:

The blood gas and electrolyte analyser market share is analysed on the basis of product, portability, end user and geography. The product segment covers the market for blood gas analyzers, electrolyte analyzers, combined analyzers, and consumables. On the basis of portability the market is divided into bench-top analyzers and portable analyzers. The end user segment comprises of hospitals, diagnostic laboratories, emergency departments, and other end users. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and Rest of the World.

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Comprehensive competitive analysis and profiles of major market players such as Siemens, Medica, Roche, Alere Medical, Nova stat, Bayer, Radiometer Medical, Samsung Medison, Abbott, and OPTI Medical systems Inc. is also provided in this report.