Blood Gas and Electrolyte Analyzer Market to exceed US$ 3.22 billion by 2031

    Published on 27-May-2024
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    Report : Blood Gas and Electrolyte Analyzer Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Blood Gas Analyzer, Electrolyte Analyzer, Combined Analyzer, and Others), End User (Hospitals and Clinics, Clinical and Diagnostic Laboratories, Homecare, and Others), and Geography

    Combined Analyzer Segment to Hold Blood Gas and Electrolyte Analyzer Market Share During 2023-2031

    According to our new research study on " Blood Gas and Electrolyte Analyzer Market Size and Forecast (2021-2031), Regional Share, Trend, and Growth Opportunity Analysis," the market value is projected to grow from US$ 2.09 billion in 2023 to US$ 3.22 billion by 2031. The Blood gas and electrolyte analyzer market is further anticipated to record a CAGR of 5.6% from 2022 to 2030.

    The surging prevalence of infectious diseases and preference for rapid diagnostic solutions are the key driving factors behind the market development. However, inadequate reimbursement scenario is hampering the market growth. Key factors that are driving the market are increasing number of patients in emergency units of hospitals and rising adoption of point-of-care diagnostics. However, high costs of analyzers restrict the market growth during the forecast period, to a noticeable extent.

    The rising prevalence of diabetes, cancer, heart disease, and other chronic conditions propels the requirement for hospital emergency rooms (ER). Hospital emergency rooms offer vital medical care for patients affected by severe chronic conditions who need immediate attention and medical intervention. These services are complex, with each part being crucial to providing care. The primary objective of emergency medical services is immediately treating medical, surgical, and obstetric problems. The increasing number of patients seeking care in emergency hospital emergency units positively impacts the demand for blood gas and electrolyte analyzers. According to the World Health Organization (WHO), around 150 million patients visit hospital emergency rooms across the world annually. The US records about 139.8 million ER visits per year, according to data released by the CDC in 2023. In addition, there was a 7.4% rise in ED visits in California between 2011 and 2021. As emergency departments face mounting pressure to deliver rapid and accurate assessments of critically ill patients, timely diagnostic information on blood gas values, electrolyte levels, and acid-base balance becomes paramount. Blood gas and electrolyte analyzers provide on-the-spot diagnostic data for evaluating and managing patients affected by respiratory distress, metabolic abnormalities, or critical conditions. The ability of these analyzers to provide real-time insights into a patient's oxygenation status, acid-base equilibrium, and electrolyte levels is crucial for guiding resuscitative measures and optimizing clinical outcomes in emergency settings.

    - Based on product, the blood gas and electrolyte analyzer market is divided into blood gas analyzer, electrolyte analyzer, combined analyzer, and others. The combined analyzer segment held the largest market share in 2023.

    - By end user, the market is segmented into hospitals and clinics, clinical and diagnostics laboratories, homecare settings, and others. The clinical and diagnostic laboratories segment held the largest share of the market in 2023.

    Abbott Laboratories, Dalko Diagnostics Pvt Ltd, Erba Diagnostic Mannheim GmbH, F.Hoffmann-La Roche Ltd, Medica Corporation, Nova Biomedical Corporation, Siemens Healthineers AG, Werfen SA, Radiometer Medical ApS, and Sensa Core Medical Instrumentation Pvt Ltd are a few key companies profiled in the Blood gas and electrolyte analyzer market report.

    Companies operating in the blood gas and electrolyte analyzer market adopt various organic and inorganic strategies. Organic strategies mainly include product launches and product approvals. Acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the radiotherapy market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall blood gas and electrolyte analyzer market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.

    A few of the significant developments by key market players are listed below.

    - In June 2022, Sysmex America, Inc. received the FDA approval for Blood Bank mode for the XN-10 Automated Hematology Analyzer to include residual white blood cell counting. The company revealed that the new analyzer could increase blood processing centers' efficiency, consistency, and accuracy by supporting residual white blood cell counts, red blood cell (RBC), and platelet (PLT) component testing in a single sample aspiration.

    - In September 2021, Sensa Core Medical Instrumentation launched ST-200 CC Blood Gas Analyzers - Ultra Smart for use in clinics, hospitals, and diagnostic centers. The highly advanced blood gas model from the company is the ST-200 CC Ultra Smart ABGEM blood gas analyzer. It is a fully automated, microprocessor-controlled electrolyte system that performs arterial blood gas analysis and electrolyte measurements using current direct measurement with ION selective electrode (ISE), impedance (Hct), and amperometry (pO2) technologies.

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