A recent report published by Infinium Global Research on Blood Gas and Electrolyte Analyzer Market provides an in-depth analysis of segments and sub-segments in the global as well as regional Blood Gas and Electrolyte Analyzer Market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional Blood Gas and Electrolyte Analyzer Market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global Blood Gas and Electrolyte Analyzer Market. According to the report, the global Blood Gas and Electrolyte Analyzer Market was sized near USD 1.5 billion in 2020 and is expected to reach over USD 2.2 by 2026, growing at a CAGR of 6.6% over the forecast period of 2020-2026.
The healthcare professionals conduct several diagnostic tests on patients suffering from various diseases. Blood tests are widely used to diagnose patients suffering from health conditions such as blood vessel hemorrhage, diabetes, drug overdose, and shock. Blood testing is used to determine vital health information such as levels of hydrogen ion, electrolytes, oxygen, acid-base balance, blood gases, and ionized calcium. Blood gas and electrolyte analyzers are used extensively to carry out blood tests in laboratories, hospitals, clinics, and diagnostic centers. Moreover, technological advances in the devices are further propelling the popularity of blood gas and electrolyte analyzers.
The growth of the market is attributed to the rising prevalence of chronic diseases. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% by the year 2020. Blood gas and electrolyte analyzers are widely used to diagnose such health issues at their early stages. Moreover, the unhealthy diet coupled along with lifestyle habits such as smoking and alcohol consumption is some factors contributing to the rise in the prevalence of chronic disorders. These factors together also lead to the growing sale of blood gas and electrolyte analyzers. In addition, the growing geriatric population that is more susceptible to various chronic and acute diseases is anticipated to boost the market growth. On the other hand, the high cost associated with advanced analyzers and stringent regulatory landscape is likely to hamper the growth of the market. Nevertheless, growing investment in R&D activities by the major players to develop innovative analyzers is anticipated to provide growth opportunities in the market.
In terms of region, the Blood Gas and Electrolyte Analyzer Market is segmented into North America, Europe, Asia-Pacific, and Row. North America dominates the market and anticipated to hold the highest share of the market in the forecast period, followed by Europe. The presence of reimbursement policies, rising prevalence of chronic respiratory diseases is the factors supporting the growth of the market in these regions. The market in Asia-Pacific is expected to grow at a high rate in the forecast period. The presence of large patient pools with respiratory diseases and the growing demand for respiratory diagnostics are some of the factors contributing to the growth of the market.
The report on the global Blood Gas and Electrolyte Analyzer Market covers segments such as product, modality, and end user. On the basis of product, the sub-markets include blood gas analyzer, electrolyte analyzer, and combined analyzer. On the basis of modality, the sub-markets include portable, bench-top, and laboratory. On the basis of end user, the sub-markets include clinical laboratories, point-of-care, diagnostic centers, and others.
The report provides profiles of the companies in the market such as Abbott Laboratories, Inc., Bayer AG, Edan Instruments Inc., ERBA Diagnostics Mannheim GmbH, F. Hoffmann-La Roche AG, Nova Biomedical Corporation, Medica Corporation, OPTI Medical systems Inc., Radiometer Medical ApS, and Siemens AG.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the Blood Gas and Electrolyte Analyzer Market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.