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Global Blood Gas and Electrolyte Analyzers Market to Reach USD 985 Million by 2026

By LabMedica International staff writers
Posted on 30 Jun 2021
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The global blood gas and electrolyte analyzers market is projected to grow at a CAGR of 5.1% from an estimated USD 728.7 million in 2020 to USD 985 million by 2026, driven by improving infrastructure in diagnostic centers, hospitals and clinical laboratories, and a rise in the integration of critical equipment such as analyzers in ICUs, NICUs, and emergency and trauma units.

These are the latest findings of a new market study published by Global Industry Analysts Inc., (San Jose, CA, USA), a market research company.

Blood gas and electrolyte analyzers are commonly used to test numerous parameters in the blood for identifying drug consumption, diabetes and blood vessel hemorrhage. The growth of the global blood gas and electrolyte analyzers market is being significantly boosted by the rising number of patients in critical care units and intensive care units (ICU); and the increasing demand for integrated, high-throughput systems that measure multiple parameters (such as creatinine, urea, nitrogen) in a short time, which is crucial for emergency situations. Another growth driver for the global market is the increasing adoption of these devices across hospitals, emergency wards and diagnostic centers. The growing relevance of point-of-care diagnosis within the healthcare industry due to its numerous advantages such as bedside care is poised to propel the market demand. Increasing spending on handheld, compact blood gas analyzers offering faster results and addressing needs of critical care services, operation rooms and emergency healthcare services will further boost global demand.

The Portable segment is projected to record a 5.8% CAGR to reach USD 681.6 million in 2026, while the Benchtop segment is expected to grow at a CAGR of 3.8% CAGR over the analysis period. The growing penetration of Point-of-Care (PoC) patient monitoring instruments, coupled with continued innovations and technology improvements taking place in the portable/handheld blood gas analyzers, is encouraging end users to switch over to the PoC version. Benchtop blood gas analyzer, also known as central laboratory analyzer, is generally placed in central laboratories of large hospitals, to undertake high volumes of blood gas testing. Due to the time critical nature of blood gas tests, especially in critical care departments, benchtop analyzers are moving out of the central laboratory and are being placed in near-patient locations in critical care areas such as ICU, CCU, ED, and OR.

Geographically, the US blood gas and electrolyte analyzers market is estimated to be valued at USD 223.1 million in 2021, driven by the demand for sophisticated medical infrastructure and favorable reimbursement plans of consumers in the region. The Chinese market for blood gas and electrolyte analyzers is projected to a record a CAGR of 6.5% over the analysis period to reach USD 111.7 million by 2026. Japan and Canada have been each forecasted to grow at a rate of 4.1% and 4.3%, respectively over the analysis period. Within Europe, Germany is forecasted to grow at a CAGR of approximately 4.7%. The Asia-Pacific market holds high growth potential owing to its vast population, high unmet needs of patients, and higher disposable incomes. The introduction of favorable government initiatives, increasing prevalence of various chronic medical conditions and growing number of new hospitals is also expected to drive the growth of the blood gas and electrolyte analyzers market in Asia-Pacific.

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Global Industry Analysts Inc.

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