Blood Gas Analyzer Market to Witness Continued Growth of 4.6% CAGR in the Next Five Years

Blood gas analyzers, which are often used to measure the pH or oxygen and carbon dioxide content in the blood, provide faster analysis, since they are portable, easy to use, and have short turnaround times. This makes them extremely beneficial tools for the patients in ICUs and emergency departments, thus effectively managing their oxygenation and ventilation. The blood gas and electrolyte analyzer market has evolved drastically, owing to the advancements in technology over the past few years.

The global blood gas analyzer/blood gas and electrolyte analyzer market which is estimated to be worth USD 506.9 Million in 2016 is expected to reach a size of USD 636.0 Million by 2021, growing at a CAGR of 4.6% during the forecast period from 2016 to 2021.

Based on product/brand, GEM 3000 is expected to hold the largest market share in 2016. Its ability to deliver real-time system diagnostics, requirement of low labor-intensive system calibration, and elimination of lengthy equipment training and probable human errors are the main reasons for the growth of this segment. However, ePOC from Alere is likely to grow at the highest CAGR over the coming years, mainly owing to its point-of-care offerings and portability.

What is the regional growth scenario of this market?

In 2016, North America is expected to dominate the market with the highest share, owing to the rise in lifestyle diseases, increasing number of product approvals, and rising government initiatives in this region. Following it is Europe, which is likely to command the second-highest share of the market. This growth can be attributed to the rising number of POC testing-related conferences, new product launches, and growth in demand for patient bedside testing. However, the market in Asia-Pacific is expected to witness the highest growth over the forecast period, owing to the rising initiatives by market players and growing patient population base.

What are main factors driving and restraining the market growth?

Growing demand for automated and point-of-care electrolyte analyzer devices, rise in the number of patients being treated in ICUs, NICUs, and emergency departments, reduced critical care costs, and increased adoption of technologically advanced biosensors and data analysis software are the main factors boosting the growth of this market. In addition, rising aging population, high prevalence of chronic diseases, and growing commercialization of innovative POC blood gas analyzer based on miniaturization of sensors is likely to provide potential growth opportunities.

On the flip side, unfavorable reimbursement scenario due to challenges in POCT billing faced by healthcare providers and complexities in operations and interpretation of data, especially in home care settings are the two main factors that may hinder the market growth. Moreover, lack of data analysis software and non-FDA-approved blood gas analyzer and refurbished devices are the key challenges that the leading players in this market will have to tackle in order to sustain continued growth.

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Key market players and strategies adopted by them for sustenance

Abbott Laboratories (U.S.), Alere, Inc. (U.S.), Instrumentation Laboratory (U.S.), Radiometer (Denmark), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany) are the leading companies operating in the global blood analyzer market. Among these, Radiometer emerged as the dominant player, and is expected to continue its dominance over the market, owing to the launch of its flagship products such as ABL800 and ABL90. Players in this market adopted organic as well as inorganic growth strategies such as new product launches and acquisitions & agreements, respectively, in order to enhance their position in the market. New product launch was the most adopted strategy used by the market players between 2013 and 2016.

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