North America is expected to dominate the global blood gas and electrolyte analyzer market during the forecast period. However, the market is growing at a faster rate in the developing countries, owing to the increase in the number of patients suffering from chronic diseases and improvement in the healthcare facilities.
The global blood gas and electrolyte analyzers market size was valued at was valued at $1,698.7 Million in 2020, and is estimated to reach $2,625.23 Million by 2030, growing at a CAGR of 4.4% from 2021 to 2030.
A blood gas test is performed on the blood gas and electrolyte to measure pH and blood gas that is concentration of hydrogen ions (pH), partial pressure of carbon dioxide (pCO2), and partial pressure of oxygen (pO2), in whole blood. It also measures electrolytes and metabolites. Imbalance in the oxygen, carbon dioxide, and pH levels in the blood of an individual can indicate the presence of certain medical conditions. These may include kidney failure, heart failure, uncontrolled diabetes, hemorrhage, chemical poisoning, a drug overdose, shock, asthma, and COPD.
The growth of the global blood gas and electrolyte analyzers market is attributed to rise in geriatric population, increase in prevalence of chronic diseases, and surge in development for point of care devices. Moreover, increase in healthcare expenditure is expected to further drive the market growth during the forecast years.
Key Findings Of The Study
- By product type, consumables were the highest contributor to the market in 2020.
- By end user, hospitals were the highest contributor to the blood gas and electrolyte analyzers market in 2020.
- By region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Leading market players
- Instrumentation Laboratory (A Werfen Company) (U.S.)
- Siemens AG (Germany)
- Roche Diagnostics Limited (Switzerland)
- Abbott Laboratories, Inc. (U.S.)
- Nova Biomedical (U.S.)
- OPTI Medical Systems, Inc. (A Subsidiary of Idexx Laboratories, Inc.) (U.S.)
- ERBA Diagnostics Mannheim GmbH (Germany)
- Medica Corporation (U.S.)
- Alere, Inc. (U.S.)
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