Blood Gas Analyzer Market size is estimated to be $3 billion in 2019, growing at a CAGR of 6.5% during the forecast period 2020-2025
Blood Gas Analyzer Market size is estimated to be $3 billion in 2019, growing at a CAGR of 6.5% during the forecast period 2020-2025.Rapid urbanization, changing lifestyle, wrong eating habits, obesity, cardiovascular disease and technological advancements in blood gas analyzer is a major factor driving the blood gas analyzer market during the forecast period 2020-2025.Futhermore, blood gas analyzer is a technique used to measure the concentration of bicarbonate, partial pressure of oxygen, carbon dioxide in the lungs and to determine the oxygen saturation to evaluate the lung function. Moreover, blood gas analyzer is an important measurement in critical care patients. In addition delivering this testing at the point-of-care offers a number of advantages to both patients and nursing team. Furthermore, Sphere medical introduced Proxima a miniature in line-blood gas analyzer that supports rapid and frequent blood gas measurements at critical times. Moreover, according to the National Heart, Lung and Blood Institute Atherosclerotic Risk in Communities (ARIC) study and Cardiovascular Health Study(CHS) there are 1,260,000 new and recurrent coronary attacks per year- about 37% people experience coronary attack in a given year die from it. Furthermore, the use of medical diagnosis to determine a patient disease and the use of radial artery puncture to obtain a sample of arterial blood for gas analysis is contributing to its market growth.
Report Coverage
The report: “Blood Gas Analyzer Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Blood Gas Analyzer Market.
By Modality- Benchtop, Portable and Laboratory.
By Product- Blood Gas Analyzer, Electrolyte Analyzer, Combined Analyzer and Consumables.
By End-Use-Central Laboratories, Point-of-Care, Ambulatory Surgical Centers, Hospitals, Diagnostic Centers and others.
By Geography-North America, Europe, Asia-Pacific and Rest-of-the-World.
Key Takeaways
- By Modality Portable accounted for the largest market share in 2019 owing to its ease of availability of handling.
- Point-of-Care accounted for the largest market share in 2019 owing to the increasing demand of rapid diagnostic near patient’s bed side and reducing healthcare expenditure by avoiding long hospital stays.
- In 2019, North America dominated the Blood Analyzer Market owing to the rising geriatric population along with the increase in the angina pectoris, increasing health concerns along with the growing demand of advanced treatment and a better healthcare structure is a major factor driving its market growth.
- Increasing incidence of chronic diseases leading to diabetes and other cardiovascular diseases is a major driving the Blood Gas Analyzer Market during the forecast period 2020-2025.
By Modality- Segment Analysis
By Modality Portable is projected to be growing with a CAGR of 6% during the forecast period 2020-2025. This is owing to its ease of availability of handling. Furthermore, Radioactive offers a wide selection of blood gas analyzers with features and functionality in order to meet the patients demand. Technological advancement and growing innovation in blood gas analyzer is a major factor driving its market growth. Furthermore, for medium-to-high volume settings ABL800 blood gas analyzers offers a high throughput and reliable automated sample handling with Drop n Go capability, which means there is no need to wait at the analyzers for the results. Therefore ease of handling is a significant factor for the growth of this segment which in turn is boosting the Blood Gas Analyzer Market.
By End-Use- Segment Analysis
Point-of-Care accounted for the largest market share in 2019 owing to the increasing demand of rapid diagnostic near patient’s bed side and reducing healthcare expenditure by avoiding long hospital stays. Reduction in the length of hospital stay is one of the major advantages of point of care testing. The rapid availability of a result reduces the time to make decision, thereby allowing more rapid triage, treatment or discharge. Furthermore increasing number of chronic diseases and respiratory acidosis in patients being admitted in in ICU, NICU and the ED in hospitals is a major factor driving the Blood Gas Analyzer Market during the forecast period 2020-2025.Moreover, the growth of this segment is majorly due to the increasing number of test in diagnostic centers and hospitals.
Geography- Segment Analysis
North America dominated the Blood Gas Analyzer Market with a region share 40% in 2019 followed by Europe and APAC. Rising geriatric population along with the increase in the angina pectoris, increasing health concerns along with the growing demand of advanced treatment and a better healthcare structure is a major factor propelling its market growth. Furthermore, the presence of large number of clinics and ease of availability of technology advanced instruments in that region is further driving its market growth. Moreover, according to the Centers for Disease Control and Prevention about 647,000 Americans die from heart disease each year-that is 1 in every-4 deaths.
Drivers – Blood Gas Analyzer Market
- Increasing incidence of chronic diseases
Increasing incidence of chronic diseases leading to diabetes and other cardiovascular diseases is a major driving the Blood Gas Analyzer Market during the forecast period 2020-2025.Futhermore, the growing diabetes patients and their will to adapt to different types of treatment is propelling the demand of Angina Pectoris Market during the forecast period 2020-2025. Moreover, according to the World Health Organization about 422 million people worldwide have diabetes particularly in low and middle-income countries and 1.6 million deaths are directly attributed to diabetes each year.
- Technological Advancement in Blood Gas Analyzer
Technological Advancements in Blood Gas Analyzer is a major factor driving its market during the forecast period 2020-2025. Moreover, NY based Siemens Healthcare Diagnostic offers the RAPIDPoint 500 Blood Gas System, which provide critical care values in approximately 1 minute with a full test menu from a single sample allowing clinicians to focus on improved patient care. Test parameters include blood gas, electrolytes, metabolites, co-oximetry, and pleural fluid ph. The system can also be set up to record key ventilator settings in critical care setting such as flow, respiratory rate, continuous positive airway pressure, positive end expiratory pressure and Allen test. Hence, these are the key factors driving its market.
Challenges – Blood Gas Analyzer Market
- High Cost Of the Product
High cost associated with the product serves as a major setback for the growth of the Blood Gas Analyzer Market during the forecast period 2020-2025.Blood Gas Analyzers aspirate blood from the syring and measure pH and partial pressures of oxygen and carbondioxide. The bicarbonate concentration is also calculated. These results are usually available for interpretation with five minutes. However, high cost of ABL90 Flex Blood Gas Analyzer, RAPIDPoint 500 Blood Gas System and ABL80 Flex Blood Gas Analyzer is a significant factor disrupting its market growth.
Blood Gas Analyzer Market Industry Outlook
Product Launches, Merger & Acquistion, joint ventures and R&D activities are key strategies adopted by the players in Blood Gas Analyzer Market. Blood Gas Analyzer Market top 10 companies are Abbott Laboratories, Roche Diagnostics, Instrumentation Laboratory, Siemens Healthcare, RadioMeter Medical, Medica Corporation, Edan Instruments, Bayer and Accurex.
Developments:
- May 2020: Roche introduced v-Tac, a new digital diagnostic solution designed to obtain results for arterial blood gas values from patients with respiratory or metabolic abnormalities.
