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Global Blood Gas and Electrolyte Analyzers Market to Surpass USD 2 Billion by 2023

By LabMedica International staff writers
Posted on 17 Aug 2021
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The global blood gas and electrolyte analyzers market was valued at USD 1.43 billion in 2016 and is projected to register a CAGR of 5.7% from 2017 to 2023 to reach USD 2.1 billion by 2023, driven by an increase in patients suffering from chronic diseases and improvement in healthcare facilities.

These are the latest findings of Allied Market Research (Portland, OR, USA), a market research and advisory company.

Blood gas analyzers are used to measure different parameters, such as pH, blood gas (pCO2 and pO2), electrolytes, and metabolites, from the whole blood samples. An increase in patients being treated in ICUs, NICUs, and emergency departments; rise in patients suffering from chronic diseases; technological advancement in blood gas & electrolyte analyzers, and increase in the number of product approvals are the major factors driving the market growth. However, complexities involved in the interpretation of data are restraining the market growth. Nevertheless, an increase in investment by major medical diagnostics giants and improvement in healthcare facilities in Asia-Pacific is providing growth opportunities for the global blood gas and electrolyte analyzers market.

Based on modality, the portable analyzer segment accounted for the highest share of the global blood gas & electrolyte analyzers market in 2016. On the basis of product/brand, the ABL Flex segment contributed the highest revenue to the global market in 2016. Based on end user, the hospitals segment holds the highest share in the global blood gas and electrolyte analyzers market, owing to the rise in number of patients treated in ICUs, NICUs, and emergency departments, where the utilization of blood gas analyzers is higher to treat patients in a critical condition.

Geographically, North America dominated the global blood gas and electrolyte analyzers market in 2016, and is estimated to maintain its dominance during the forecast period. This can be attributed to the higher adoption of technologically-advanced devices, well-equipped healthcare facilities, and rise in admission of patients in ICUs, NICUs, and emergency departments.

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