PUBLISHER: The Business Research Company | PRODUCT CODE: 1429748
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429748
Blood gas and electrolyte analyzers are instrumental in measuring pH, blood gas levels, electrolytes, and metabolites from whole blood samples. Electrolytes are assessed in clinical laboratories using serum and whole blood samples typically obtained for arterial blood gas (ABG) analysis.
Key products in this category include blood gas analyzers, electrolyte analyzers, combined analyzers, and consumables. Blood gas analyzers gauge parameters such as blood gas, pH, electrolytes, and certain metabolites within whole blood samples. These devices calculate pH levels, carbon dioxide and oxygen partial pressures, as well as concentrations of various ions and metabolites. These analyzers come in diverse modalities such as portable, laboratory-based, and benchtop models. They find application in central laboratories, point-of-care settings, diagnostic centers, hospitals, and other relevant end-user facilities.
The blood gas and electrolyte analyzers market research report is one of a series of new reports from The Business Research Company that provides blood gas and electrolyte analyzers market statistics, including blood gas and electrolyte analyzers industry global market size, regional shares, competitors with a blood gas and electrolyte analyzers market share, detailed blood gas and electrolyte analyzers market segments, market trends and opportunities, and any further data you may need to thrive in the blood gas and electrolyte analyzers industry. This blood gas and electrolyte analyzers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The blood gas and electrolyte analyzers market size has grown strongly in recent years. It will grow from $3.26 billion in 2023 to $3.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The historical growth can be linked to several factors including rapid urbanization, a rise in emergency hospital visits, enhanced diagnostic center infrastructure, increased income and living standards, higher healthcare spending, a growing elderly population, and escalating rates of obesity.
The blood gas and electrolyte analyzers market size is expected to see strong growth in the next few years. It will grow to $4.86 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. Forecasted growth due to government initiatives, critical care demand, medical tourism, and chronic illnesses. Emerging trends include tech advancements, product innovations, digital & automated blood gas analyzers, and advanced diagnostics.
The growth of the blood gas and electrolyte analyzers market is fueled by an increased number of patients requiring blood sample testing. Blood tests serve various purposes, including assessing cholesterol and blood glucose levels, aiding in the monitoring of risks associated with heart disease, vascular disease, and diabetes, as well as evaluating the effectiveness of treatments. Notably, in 2021, out of the 118.5 million global blood donations, 40% were collected in high-income countries, which constitute only 16% of the world's population. The distribution of blood transfusions varies across age groups, with children under five receiving up to 54% of transfusions in low-income countries, while in high-income countries, the majority of transfusions, up to 75%, are administered to individuals over 60 years old. Consequently, the surge in patient numbers necessitating blood sample testing contributes to the upward trajectory of the blood gas and electrolyte analyzers market.
The blood gas and electrolyte analyzers market is anticipated to experience growth due to the increasing trend of medical tourism. Medical tourism involves individuals crossing international borders to seek medical treatment. For instance, in 2022, the Medical Tourism Association, a provider of educational training, certification, and brand development programs for hospitals and healthcare providers, estimated that approximately 14 million people globally travel abroad annually for medical treatment. The annual expenditure on medical tourism ranges between $50 billion and $70 billion. Thailand stands out as the most preferred destination for medical tourism, hosting 1.2 million tourists seeking medical care each year, while Mexico follows closely with a million annual visitors for medical purposes. This escalating demand for medical tourism serves as a driving force behind the projected growth of the blood gas and electrolyte analyzers market in the forecast period.
Technological advancements have emerged as a prominent trend in the blood gas and electrolyte analyzers market, with major companies prioritizing the development of innovative solutions to enhance their market position. In September 2021, Sensa Core, an India-based company specializing in blood gas and electrolyte analyzers, unveiled the ST-200 CC Blood Gas Analyzer-Ultra Smart. Designed for hospitals, clinics, and diagnostic centers in India, this analyzers model employs advanced technology, featuring a fully automated, microprocessor-controlled electrolyte system. Utilizing current direct measurement with an ION selective electrode (ISE), Impedance (Hct), and Amperometry (pO2), the ST-200 CC Ultra Smart ABGEM analyzer enables arterial blood gas analysis and electrolyte measurements. It can measure various combinations of essential parameters, including Sodium, Potassium, Ionized Calcium, Lithium, Potential of Hydrogen, Chloride, Partial Pressure of Carbon Dioxide, Partial Pressure of Oxygen, Hematocrit Test, and calculated parameters such as Hemoglobin, Bicarbonate, and others. With an internal barcode scanner and external interface compatibility with a keyboard and mouse, this ultra-smart model delivers 27 different results, showcasing Sensa Core's commitment to technological innovation.
Completed blood count (CBC) diagnostics technology is gaining traction in the blood gas and electrolyte analyzers market. In December 2021, Sight Diagnostics, a US-based blood diagnostic company leveraging machine vision and AI, introduced the Sight OLO testing tool. This innovative solution enhances traditional CBC diagnostics technology, offering improved convenience, efficiency, accuracy, and ease of use compared to previous devices. By decentralizing access to CBC diagnostics and supporting both finger-prick and venous draw blood samples, Sight OLO addresses the need for enhanced accessibility in clinical trials. This technology not only streamlines trial operations but also enhances the patient experience. With rapid results available within minutes, Sight OLO accelerates decision-making, reducing time to results and contributing to lower operating costs and improved logistic management. This development underscores the growing significance of cutting-edge diagnostics technologies in the blood gas and electrolyte analyzers market.
In May 2022, Sysmex Corporation, a Japanese medical electronics company, acquired Astrego to enhance collaborative efforts in advancing diagnostic technologies. The acquisition aims to address medical challenges, including reducing antimicrobial resistance and promoting proper use of antimicrobial drugs for better patient care. Astrego Diagnostics AB, based in Sweden, specializes in rapid diagnostic tools.
Major companies operating in the blood gas and electrolyte analyzers market report are F. Hoffmann-La Roche Ltd., Danaher Corporation, Siemens Healthineers AG, Werfen, Abbott Laboratories, Medica Corporation, EDAN Instruments Inc., Radiometer Medical, Nova Biomedical, OPTI Medical systems Inc., I Sens Inc., JOKOH CO. Ltd., Prolong Medical Equipment Co. Ltd., Sensa Core Medical Instrumentation Pvt. Ltd., Hunan Rainbow Technology Co. Ltd., ERBA Mannheim, EKF Diagnostics, Roche Diagnostics, Grifols, Vygon SAS, Biofidus, KwertyMed, Instrumentation Laboratory Company, Becton Dickinson and Co, Microbiology E.A Ltd.
North America was the largest region in the blood gas and electrolyte analyzers market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the blood gas and electrolyte analyzers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the blood gas and electrolyte analyzers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The blood gas and electrolyte analyzers market consist of sales of blood oxygen analyzer, full-automatic blood gas analyzer, tissue oxygen content measuring instrument, handheld blood gas analyzer, blood gas collector, semi-automatic electrolyte analyzer, potassium analyzer and fully automatic electrolyte analyzer. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Blood Gas and Electrolyte Analyzers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on blood gas and electrolyte analyzers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for blood gas and electrolyte analyzers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The blood gas and electrolyte analyzers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.