Blood Gas and Electrolyte Analyzers Market to garner $2,104 million by 2023
Pune, Maharashtra, India, December 16 2020 (Wiredrelease) Allied Analytics :UPDATE AVAILABLE ON-DEMAND
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. 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.
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Top Investment Pockets
Asia-Pacific is considered as the top investment pocket, owing to the significant growth opportunity offered by the region. Asia-Pacific blood gas and electrolyte analyzers market is projected to grow at a highest CAGR of 7.2% during the analysis period. The growth is attributed to the rise in investment from government agencies to provide better healthcare facilities for the large patient population, increase in incidence of chronic diseases, growth in healthcare expenditure, and surge in income level of the population.
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.
Geographically, the market is divided into North America, Europe, Asia-Pacific, and LAMEA. North America held the leading position, owing to its well-developed healthcare industry, presence of leading blood gas electrolyte analyzer manufacturers, and rise in number of patients treatment in the ICUs, NICUs, and emergency wards. Whereas, Mexico is growing at highest CAGR during the forecast period. However, Asia-Pacific is anticipated to grow at a highest growth rate with the increase in number of patients suffering from chronic diseases and rise in government initiatives for the improvement of the healthcare facilities.
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The major companies profiled in the report include Radiometer Medical Aps (A Subsidiary of Danaher Corporation) (Denmark), 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.), and Alere, Inc. (U.S.)
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