(PharmaNewsWire.Com, July 24, 2021 ) According to research report the Blood Gas and Electrolyte Analyzer Market was estimated to be USD 506.9 Million in 2016, which would reach USD 636 Million by 2021, growing at a CAGR of 4.6% during 2016 to 2021.
Blood gas analyzers are used in conditions such as diabetes, blood vessel hemorrhage, drug overdose and shock for testing several parameters including oxygen concentration, hydrogen ion, electrolytes and partial pressure of carbon dioxide and oxygen.
Owing to the increasing demand for point of care and automated blood gas analyzers, this market is expected to witness decent growth in the coming years. An increase in number of patients being treated in ICUs, NICUs and emergency departments would further accelerate the pace of growth of blood gas analyzers market.
The Blood Gas and Electrolyte Analyzer Market is segmented on the basis of major product brands (i-STAT, epoc, GEM 3000, GEM 3500, GEM 4000, ABL800, ABL80, ABL90, cobas b 221, cobas b 121, cobas b 123, RAPID Series) in four major regional segments, namely, North America, Europe, APAC, and Rest of the World. This report analyzes the market from both value and volume perspectives. GEM 3000 is expected to account for the largest share of the global blood gas analyzers market in 2016. This is mainly because GEM 3000 delivers real-time system diagnostics, requires low labor-intensive system calibration, and eliminates lengthy equipment training and possible human errors. On the other hand, epoc (Alere) is expected to be the fastest-growing brand in the coming years.
North America is estimated to dominate the global blood gas analyzer market in 2016. The large share of this regional segment can primarily be attributed to the growing prevalence of lifestyle diseases, increasing number of product approvals, and rising government initiatives. On the other hand, the Asia-Pacific market is expected to witness the highest growth during the forecast period, owing to factors such as growing initiatives by market players and increasing patient population base in this region.
The key players in the global Blood Gas Analyzer Market are Abbott Laboratories (U.S.), Alere, Inc. (U.S.), Instrumentation Laboratory (U.S.), Radiometer (Denmark), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany), with Radiometer leading the market. Players in this market adopted organic (new product launch) as well as inorganic growth strategies (acquisitions and agreements) to enhance their market shares and positions. New product launch was the most dominant strategy adopted by market players between 2013 and 2016.
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