Blood gas analyzers are used in conditions such as diabetes, blood vessel hemorrhage, drug overdose and shock for testing several parameters including oxygen concentration, hydrogen ion, electrolytes and partial pressure of carbon dioxide and oxygen.
The global Blood Gas and Electrolyte Analyzer Market was estimated to be USD 506.9 Million in 2016, which would reach USD 636 Million by 2021, growing at a CAGR of 4.6% during 2016 to 2021. Owing to the increasing demand for point of care and automated blood gas analyzers, this market is expected to witness decent growth in the coming years. An increase in number of patients being treated in ICUs, NICUs and emergency departments would further accelerate the pace of growth of blood gas analyzers market.
The growth in blood gas analyzer market is majorly attributed to the rising demand for automated and point-of-care blood gas analyzer devices. These analyzers offer rapid analysis and are easy to use, portable, and offer short turnaround times, which make them valuable tools for managing oxygenation and ventilation of patients in ICUs and emergency departments.
The other factors driving the growth of blood gas analyzer market include rising geriatric population and the subsequent increase in the prevalence of chronic diseases, increasing adoption of technologically advanced biosensors and data analysis software, growing demand for technology integrated combined systems, and miniaturization of POC blood gas analyzers.
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The blood gas analyzer market is segmented on the basis of major product brands (i-STAT, epoc, GEM 3000, GEM 3500, GEM 4000, ABL800, ABL80, ABL90, cobas b 221, cobas b 121, cobas b 123, RAPID Series) in four major regional segments, namely, North America, Europe, APAC, and Rest of the World. This report analyzes the market from both value and volume perspectives. GEM 3000 is expected to account for the largest share of the global blood gas analyzers market in 2016. This is mainly because GEM 3000 delivers real-time system diagnostics, requires low labor-intensive system calibration, and eliminates lengthy equipment training and possible human errors. On the other hand, epoc (Alere) is expected to be the fastest-growing brand in the coming years.
North America is expected to account for the largest market share in 2016, which is primarily attributed to the growing prevalence of lifestyle diseases, increasing number of product approvals, and rising government initiatives in this region. However, the APAC Blood Gas Analyzers market is projected to witness a higher growth during the forecast period due to the growing initiatives by market players, increasing patient population base, and rising number of partnerships and joint ventures.
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