The global blood gas and electrolyte analyzers market was valued at USD 455.4 million in 2014 and, is expected to grow at a CAGR of 4.7% over the forecast period. An increasing number of patients in critical care and emergency departments, rising demand for blood gas testing, increasing preference shift towards point-of-care testing, growing healthcare expenditure levels and the introduction of novel technologies are some high impact rendering drivers of the blood gas and electrolyte analyzers market. Growing global geriatric population base is also expected to significantly contribute towards market growth over the forecast period, by triggering incidence rates of target diseases such as respiratory disorders, cancer, diabetes, and cardiovascular diseases. Moreover, the emergence of multi-parameter monitoring device owing to expanding test menus and increasing demand for miniaturized devices are expected to boost market growth over the forecast period. For instance, estimates published by the WHO suggest that the global base of population pertaining to the age group – 65 years and above is expected to rise from 7% in 2000 to 16% in 2050. Aging is considered as one of the greatest risk factors for the development of cancer and other chronic diseases and therefore, the fact that the global base of geriatric population is expected to widen the user base.
Benchtop and portable analyzers are two key product segments of the blood gas and electrolyte analyzers market. Benchtop analyzers are usually larger comprising a display (usually LCD), a slot to insert a test strip or sample tube, and a keypad to enter information whereas portable analyzers are mobile and facilitate bedside monitoring.
Global blood gas and electrolyte analyzers market, by product, 2012 - 2022 (USD Million)
The portable analyzers market held the largest share in 2014 at over 60%. Advantages associated with portable analyzers such as ease-of-use and portability, automation of tasks, reduced manual errors, low maintenance and self-monitoring ability are some notable factors attributing to the segment’s large market share.
Combined analyzers dominated the overall market in 2014 owing to the presence of large test volumes and an extensive portfolio of commercialized products. The market for combined analyzers is expected to witness lucrative growth owing to growing need for analyzers which require less maintenance and can facilitate test results for both blood and electrolyte count in a given sample of whole blood, urine, serum, plasma or dialysate.
The blood gas and electrolyte analyzers market is also segmented on the basis of end-use into point-of-care and central laboratories. The point-of-care segment is expected to remain as the fastest growing segment throughout the forecast period. Continued technological improvements taking place in the portable or handheld devices attracting end-users to switch towards point-of-care analyzers is a key driving factor for this segment. It has gained special importance in emergency transport systems, cardiothoracic surgical departments, and critical care departments as indicated by a large volume of systems developed for these areas. The demand for point-of-care blood gas and electrolyte analyzers is expected to witness expedited growth over the forecast period. These devices involve automated sample handling, helps reduce associated errors, render user variability and are, therefore, expected to score high on the consumer preference matrix.
North America dominated the blood gas and electrolyte analyzers market in 2014. Increasing the number of patients treated annually in hospitals, especially in the emergency departments and intensive care units and the presence of supportive healthcare infrastructure are some factors expected to drive regional market growth. Asia-Pacific, on the other hand, is expected to present manufacturers with lucrative future growth opportunities. Increasing disposable income levels in emerging countries such as China and India and the presence of high unmet patient needs are some key factors for market participants to capitalize on. Additionally, the presence of favorable government initiatives and programs in developing countries are expected to propel the growth of the blood gas and electrolyte analyzers market. For instance, the introduction of favorable government programs such as the UNFPA introduced Country Programme Action Plan (CPAP) is introduced in order to prevent diseases and improve healthcare services in MEA is expected to open up new avenues for market growth.
Key players of the blood gas and electrolyte analyzers market include Siemens, Roche, Bayer, Abbott, OPTI medical systems Inc., Medica, Samsung Medison, Erba, Nova Stat, Radiometer Medical, Edan Instruments, Alere Medical, Convergent Technologies, Dalko Diagnostics, Afford Medical and Accurex Biomedical Pvt. Ltd. Entering into mergers & acquisitions, strategic collaborations, and product portfolio expansion are some key sustainability strategies adopted by these market players. For instance, In September 2012, Erba Mannheim acquired Maxmat S.A, a French company operating in the branch of manufacturing medical laboratory devices. The acquisition helped the parent company, shrink product development duration and cater to the changing needs of the consumers.
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