The new market research report by Global Market Insights Inc. estimates global Blood Gas And Electrolyte Analyzers Market size to grow at 4.8% from 2016 to 2023.
Strong product availability has helped improve the care of critically ill patients. Growing demand for highly developed sleek handheld devices with short turnaround time has led to the development of sleek, handy and more compact point-of-care devices. The report encapsulates market trends & issues, market profiling, growth drivers and inhibitors, opportunities and challenges, current industry overview, product innovations.
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The report covers:
- Current market scenario
- Market Estimates and Forecasts for 2016-2023
- Segmentation on the basis of product, region and competitive landscape
- Product Segments Analyzed in Volume and Value Terms
Growing geriatric population, prevalence of chronic end-of-life diseases, leading to high number of hospital admissions and increasing demand for health parameter monitoring devices are key factors contributing to blood gas and electrolyte analyzers market growth. A consequent rise in demand for high throughput and integrated systems is also likely to drive the market growth. Growing aging population is another key factor to impel the growth.
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North America led by the U.S. blood gas and electrolyte analyzers market share dominates the regional market globally. APAC region driven by India and China tops the fastest growing market both in terms of volume and value. The region is projected to exhibit growth over 6.6% during the forecast period. The increase is attributed to rapidly developing healthcare infrastructure and changing dynamics of healthcare consumption. Furthermore, growing awareness about health is likely to influence the market growth positively.
LATAM market size is projected to witness a surge in coming years.
High impact factors rendering growth are
- Advent of new technology
- Prevalence of chronic diseases
- Growing number of patients in critical care and emergency departments,
- Increasing demand for blood gas testing
- Rising healthcare expenditure levels
- Growing preference shift towards point-of-care testing
- Emergence of multi-parameter monitoring devices
Portable analyzers lead the product segment and are likely to continue dominance over the predicted time frame. Combined analyzers are expected to witness significant growth at 5.5% CAGR over the next few years.
Major participants in global blood gas and electrolyte analyzers market include:
- Cerner Corporation
- Roche Diagnostics
- Alera Medical
- Siemens Healthcare
- Instrumentation Laboratories, Inc.
Merger and acquisition and strategic collaboration are the key strategy to focus on to achieve product portfolio expansion and maintain leading position.