Blood Gas And Electrolyte Analyzer Market Size, Share & Trends Analysis Report By Product (Benchtop, Portable), By Application (Blood Gas, Electrolyte), By End-use (PoC, Clinical Laboratories), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global blood gas and electrolyte analyzer market size was estimated at USD 1.7 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030. Factors that are driving the market growth include an increase in the number of patients in intensive care units, emergency departments, and operation rooms, rising demand for high throughput & integrated systems, consolidation of diagnostic facilities, awareness about accreditation, and increasing affordability of patients. In recent years, the geriatric population has been rising, which has led to an increase in the number of patients in emergency departments, critical care units, and operating rooms receiving critical care. This, in turn, fuels the market potential for blood gas and electrolyte analyzers.

According to World Population Prospects 2019 (United Nations, 2019), the global population of the age group 65 years and above is estimated to increase from 9% in 2019 to 16% in 2050. Aging is considered one of the greatest risk factors for the development of cancer and therefore, the fact that the geriatric population is expected to grow over the forecast period is one of the factors that will drive market growth. The need for expanded test menus is additionally integrating the functionalities of both blood gas and electrolyte analysis to offer multiple testing of electrolytes, bilirubin, creatinine, and blood urea nitrogen from a single sample. OPTI Medical Systems, a company specializing in designing and manufacturing point-of-care & laboratory diagnostic solutions, displayed its blood gas and electrolyte analyzer: OPTI CCA-TS2 at the 2022 AACC Clinical Lab Expo.

The OPTI CCA-TS2 provides quick, precise results for acid-base balance, blood gases, electrolytes, glucose, ionized calcium, lactate, BUN/urea, and added blood parameters including oxygen saturation (sO2) & total hemoglobin concentration. The demand for high throughput and integrated systems is on the rise. Appropriate treatment in trauma centers and ICUs is majorly based on blood gas and electrolyte values. This depends on convenience and high turnaround time to produce quick and accurate results. Moreover, the capability of blood gas and electrolyte analyzers to integrate with EHRs/EMRs in many situations has resulted in improved workflow and has also reduced manual errors.

Increasing healthcare expenditure for the treatment of chronic diseases, such as cancer and diabetes, is expected to drive market growth over the forecast period. This increase indicates a rise in the number of patients in critical care units and emergency departments, which has led to the growing need for blood gas and electrolyte analysis. Pertinent organizations and governments are constantly engaging in programs to reduce healthcare expenditure by encouraging patients to undergo regular diagnostic examinations. According to an article published in the National Library of Medicine, the global incidence of cancer (excluding non-melanoma skin cancer) was 19.3 million in 2020, and by 2040, it is expected to reach 28.4 million.

A rise in the number of cancer cases will accelerate the market growth. High-unmet clinical needs pertaining to cancer and the subsequent rise observed in patient awareness levels are expected to boost the demand for blood gas and electrolyte analyzers. The COVID-19 pandemic had a positive impact on the market. The surge in COVID-19 cases led to an increase in hospitalizations, and blood gas testing was critical for COVID-19 patients who showed signs of respiratory distress. This led to an increase in demand for blood gas and electrolyte analyzers in clinics, hospitals, and point-of-care centers. In April 2021, Germany-based Siemens Healthineers launched the epoc Blood Analysis System, a wireless, handheld solution with complete blood gas, metabolic panel, lactate, and hematocrit on a single room temperature-stable test card.

Product Insights

On the basis of product, the global industry has been further categorized into benchtop and portable. The portable analyzers segment led the market in 2022 and accounted for the largest share of 62.3% of the overall revenue. The segment is projected to expand further at the fastest growth rate of 5.8% over the forecast period. This growth is attributed to the ability of portable analyzers to render instantaneous test results and faster turnaround time.

The growing demand for point-of-care blood gas and electrolyte analyzers is one of the main reasons for their continued dominance. The market for portable blood gas & electrolyte analyzers is marked by continuous innovations and technological improvements, which are among the key factors driving the growth of the market. Innovation and technological advancements have resulted in the development of novel devices from bench-top to more compact, handheld, and sleek point-of-care devices.

Application Insights

On the basis of application, the global industry has been further categorized into blood gas analyzers, electrolyte analyzers, and combined analyzers. The combined analyzers segment dominated the market in 2022 and accounted for the largest share of 60.3% of the overall revenue. The segment is projected to expand further at the fastest growth rate of 8.1% and retain its leading position throughout the forecast period.

This rapid growth can be attributed to an extensive portfolio of commercialized products and the presence of a large number of tests. The combined analyzers market is marked by the presence of a need for analyzers, which require less service and maintenance. The market shares of combined analyzers are expected to increase over the forecast period. The blood gas analyzers segment accounted for a 13.6% revenue share in 2022.

End-use Insights

On the basis of end-use, the global industry has been further categorized into clinical laboratories and point-of-care. The clinical laboratories end-use segment dominated the global market in 2022 and accounted for the largest share of 63.2% of the overall revenue. The high share of this segment can be attributed to a rise in the number of diagnostic tests being performed in these settings across the globe.

However, the point-of-care end-use segment is expected to grow at the fastest CAGR of 6.2% over the forecast period. This is owing to factors, such as the rising demand for rapid diagnosis near the patient site and increasing initiatives to reduce hospital stays to control healthcare spending. Point-of-care devices offer rapid analysis at the point of need due to their ease of use, accuracy, short turnaround time, and portability.

Regional Insights

North America dominated the market and accounted for the largest revenue share of around 40.0% in 2022 owing to the presence of high practitioner and patient awareness levels, well-established healthcare infrastructure, advancement in technologies, and government support for research and development purposes. Siemens Healthineers received the U.S. Food and Drug Administration (FDA) approval in March 2020 for its RAPIDPoint 500e Blood Gas Analyzer. It is used to generate blood gas, metabolite, electrolyte & neonatal bilirubin results that are used to diagnose patients in critical care settings.

Asia Pacific is expected to grow at the fastest CAGR of 7.3% during the forecast period due to the presence of high-unmet clinical needs along with rapidly rising healthcare expenditures & patient awareness levels in countries, such as India and China. In September 2021, Sensa Core Medical Instrumentation Pvt. Ltd., an Indian diagnostics instrument manufacturer, announced the availability of ST-200CC Blood Gas Analyzers - Ultra Smart for diagnostics centers, clinics, and hospitals through its network in the country.

Key Companies & Market Share Insights

The market is highly competitive and players are focusing on expanding their product portfolio to increase their industry share. In June 2022, Sysmex America, Inc. received clearance from the FDA to add a new feature of residual white blood cells (WBC) counting to its XN-10 Automated Hematology Analyzer with Blood Bank Mode. In July 2022, China-based EDAN Instruments Inc. announced the launch of i20, a new lightweight point-of-care (POC) fluorescence-based CO-oximetry blood gas & chemistry analysis system. It is intended to reduce the workload in specific patient care settings including intensive care units (ICUs), neonatal ICUs, pulmonary units & operating rooms. Some of the major participants in the global blood gas and electrolyte analyzer market include:

• Abbott Point of Care Inc.

• Cornley Hi-tech Co., LTD

• Radiometer Medical ApS

• EDAN Instruments, Inc.

• ERBA Diagnostics Mannheim GmbH

• F Hoffman La Roche Ltd.

• Fortress Diagnostics

• Instrumentation Laboratories

• LifeHealth

• Medica Corporation

• Nova Biomedical Corporation

• OPTI Medical Systems, Inc.

• Sensa Core

• Siemens Medical Solutions USA, Inc.

Blood Gas And Electrolyte Analyzer Market Report Scope

Global Blood Gas And Electrolyte Analyzer Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global blood gas and electrolyte analyzer market report on the basis of product, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Benchtop

  • Portable

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Blood Gas Analyzers

  • Electrolyte Analyzers

  • Combined Analyzers

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Clinical Laboratories

  • Point-of-Care

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Sweden

    • Norway

    • Denmark

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa

    • UAE

    • Kuwait