Blood Gas Analyzers Market Size And Forecast
Blood Gas Analyzers Market size was valued at USD 561.2 Million in 2020 and is projected to reach USD 766.6 Million by 2028, growing at a CAGR of 4.56% from 2021 to 2028.
The change in lifestyle habits such as smoking tobacco, drinking alcohol, sedentary lifestyle, and many others have raised the reported cases of patients suffering from chronic illness and it has further fueled the demand for blood gas analyzers in the market. Blood gas analyzers are used in critical care units and the rising prevalence of various chronic diseases across the world has been the biggest driver of the market. The Global Blood Gas Analyzers Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Blood Gas Analyzers Market Definition
Blood gas analysis involves the measurement of the partial pressure of oxygen, carbon dioxide, and the acidity of pH in the blood along with the concentration of various ions and metabolites. Arterial blood gas analysis plays an important role to monitor patients suffering from respiratory or metabolic disorders to take appropriate diagnostic decisions. Blood gas analyzers are employed for measuring blood gas levels.
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Such devices help to determine the abnormal metabolite, electrolyte, pH, and oxygen/carbon dioxide exchange levels in the patient’s blood. The blood gas analyzers use electrodes to measure such parameters. Such analyzers are available as both handheld and benchtop devices. Blood gas analyzers are used in conditions such as diabetes, blood vessel hemorrhage, drug overdose, and shock for testing several parameters including oxygen concentration, hydrogen ion, electrolytes, and partial pressure of carbon dioxide and oxygen.
Global Blood Gas Analyzers Market Overview
Blood gas analyzers are used in critical care units and the rising prevalence of various chronic diseases across the world has been the biggest driver of the market. The change in lifestyle habits such as – smoking tobacco, drinking alcohol, sedentary lifestyle, and many others has raised the reported cases of patients suffering from chronic illness and it has further fueled the demand for blood gas analyzers in the market. Additionally, the rising elderly population has been a significant contributor to the market. Growing research activities to miniaturize the blood gas analyzer presents a great opportunity for market growth over the forecast period. Also, the rising adoption of minimally invasive biopsies over surgeries to offer less patient discomfort has in turn helped in the market growth.
However, the dearth of well-trained healthcare professionals and the lack of proper healthcare infrastructure in developing and emerging nations are the biggest challenges to the Blood Gas Analyzers Market. However, blood gas analysis is prone to several preanalytical errors, therefore affecting the market growth. Availability of refurbished devices, non-FDA approved analyzers and unfavorable reimbursement scenarios across the world are restricting the expansion of this market. Additionally, the unavailability of software for data analysis is the main reason which is hindering the growth of this market as a whole.
Global Blood Gas Analyzers Market: Segmentation Analysis
The Global Blood Gas Analyzers Market is Segmented on the basis of Type, Product, And Geography.
Blood Gas Analyzers Market, By Type
- Handheld or Portable
- Benchtop
Based on Type, the market is segmented into Handheld or Portable and Benchtop. The benchtop segment is estimated to grow significantly during the forecast period. The adoption of benchtop analyzers for arterial blood gas analysis will upsurge segmental growth. Benchtop analyzers provide a variety of advantages like individual biosensor technology, broad test menu, and low cost of operation.
Blood Gas Analyzers Market, By Product
- i-Stat
- GEM Premier
- Cobas
- ABL Flex
- RAPID Series
- Others
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Based on Product, the market is segmented into i-Stat, GEM Premier, Cobas, ABL Flex, RAPID Series, and Others. Out of these, the ABL Flex segment holds the highest share in the global market, as it offers a wide range of products ranging from portable to benchtop blood gas analyzers.
Blood Gas Analyzers Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Geography, the Global Blood Gas Analyzers Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is estimated to dominate the worldwide Blood Gas Analyzers Market during the forecasted period. The massive share of this regional segment can primarily be attributed to the growing prevalence of lifestyle diseases, the increasing number of product approvals, and rising government initiatives.
Key Players
The “Global Blood Gas Analyzers Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Abbott Laboratories, Siemens AG, Radiometer Medical, Nova Biomedical, Roche Diagnostics Limited, Medica Corporation, Werfen, ERBA Diagnostics Mannheim GmbH.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
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