Blood Gas and Electrolyte Analyzers Market size to exceed $700mn by 2023
Combined analyzers will remain a very attractive application avenue for industry participants, estimated to grow at a healthy 5.5% CAGR, from 2016 to 2023. Technology innovation has been recently introduced in point-of-care devices and rising demand for high throughput multi-parameter monitoring devices.
Point-of-care analyzers pose a significant growth opportunity, with target market likely to exceed USD 240 million, by 2023. Moreover, growing geriatric population base that is more succumbed to chronic diseases is expected to drive the market growth during the forecast period.
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Major product segments analyzed in this report include bench-top and portable blood gas and electrolyte analyzers. Blood gas, electrolyte, and combined analyzers are key industry application segments.
The need for expanded test menus is additionally integrating the functionalities of both electrolyte and blood gas analysis to offer multiple testing of blood urea nitrogen, bilirubin, creatinine, and electrolytes from a single sample.
To access sample pages or view this report titled, “Blood Gas and Electrolyte Analyzers Market Size By Product (Benchtop, Portable), By Application (Blood Gas Analyzers, Electrolyte Analyzers, Combined), By End-User (Central Laboratories, Point-of-care) Industry Analysis Report, Regional Outlook (U.S., Germany, Spain, France, China, India, Japan, Brazil, Mexico, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents, please click on the link below:
Key insights from the report include:
- Global blood gas and electrolyte analyzers market size estimates were USD 484.5 million in 2015, with over 4.5% CAGR growth expectations by 2023.
- North America dominated the overall market, accounting for a share of 40% in 2015, followed by Europe, Asia Pacific, LATAM and MEA. U.S. blood gas and electrolyte analyzers market should exceed USD 230 million by 2023.
- Portable blood gas & electrolyte analyzers market dominated industry share in 2015 with revenue exceeding USD 300 million.
- New entrant threat is expected to remain moderately high, due to lack of a rigidly defined regulatory scenario. With optimistic growth expectations, new players may be attracted to enter the market over the forecast period.
- Portable blood gas analyzers and electrolyte market is marked by constant innovation and technology improvements which are amongst key factors for demand evolution.
- 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. Sleek point-of-care devices offer portable, rapid arterial blood gas analysis at the point of need due to its portability, accuracy, ease-of-use, and short turnaround time.
Presence of high unmet medical needs and rapidly improving healthcare infrastructure in the APAC region should act as a catalyst for the market growth.