Global Blood Gas Analyzer Market is anticipated to witness exponential growth in the forecast period. Blood gas analyzer is used to measure various parameters from whole blood samples, such as blood gas (pO2 and pCO2), pH, metabolites, and electrolytes. The factors that propel the growth of the market include increasing number of patients in intensive care units and operation rooms, rising demand for integrated systems, and high throughput. Also, factors like growing consciousness regarding authorization, increasing affordability among patients and consolidation of diagnostic facilities might contribute greatly to the market growth. On the other hand, there are factors that may hamper the growth of the market including difficulties involved in the interpretation of blood analysis data.
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Blood gas analyzer market is anticipated to grow at a CAGR of 6.6% in the upcoming period as the scope, product types, and its applications are increasing across the globe. The new trend for blood gas analyzer is acceptance of standardization and automation across the In-vitro diagnostics industry. Owing to the cost-cutting in clinical lab fees, the profit per test is decreasing, that is eventually compelling the laboratories to concentrate on volume rather than value. Also, the need for quality and error-free results is growing.
The market may be explored by type, application, and geography. Market may be explored by product type as Benchtop Blood Gas Analyzers and Portable Blood Gas Analyzers. The “Portable Blood Gas Analyzers” segment led the market in 2016 and will continue to lead in the forecast period.
The key factors that could be attributed to the growth of the market include advantages including simpler pre-analytical process, removal of pathology access barriers, and easy sample collection, and acceptance of portable analyzers particularly in the hospital sector. The key applications that could be explored in the market include Anesthesia, Cardiovascular Surgery, ICU and Others.
North America accounted for the major share of the blood gas analyzer market in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing R&D activities in countries such as Canada, Brazil, and Mexico, improvement in the healthcare infrastructure, and acceptance of advanced diagnostic instruments. Also, North America is followed by the Asia-Pacific region owing to rise in government initiatives for the development of healthcare services and increase in the number of patients suffering from chronic diseases.
Some of the key players that fuel the growth of the blood gas analyzer market comprise Medica, Siemens Healthcare, Roche, Instrumentation Laboratory (A Werfen Company), Bayer, Abbott Laboratories, Ge Healthcare, Opti Medical, Samsung Madison, Irma Trupoin, Perlong Medical, Edan Instruments, Dalco Diagnostics, Convergent Technologies, Heska, Nova Biomedical, Sphere Medical and Meizhou Cornley Hi-Tech and Radiometer Medical (A Subsidiary Of Danaher). The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Market Segment:
Key Applications
• Hospital
• Academia
Key Regions
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key Vendors
• request free sample to get a complete list of companies
Key Questions Answered in this Report
• What will the market size be in 2023?
• What are the key factors driving the global Blood Gas Analyzer market?
• What are the challenges to market growth?
• Who are the key players in the Blood Gas Analyzer market?
• What are the market opportunities and threats faced by the key players?
Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/medical-devices
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