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Global POC Blood Gas and Electrolyte Market Size was valued at USD 2.4 Billion in 2022. The POC Blood Gas and Electrolyte market Type is projected to grow from USD 2.6 Billion in 2023 to USD 5.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.60% during the forecast period (2023 - 2032). The prevalence of respiratory acidosis and associated issues is rising, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The main factors influencing the growth of the blood gas and electrolyte analyzers market are an increase in the prevalence of chronic diseases, the global geriatric population, the number of patients being treated in intensive care units, neonatal intensive care units, and emergency departments, technological advancements in blood gas and electrolyte analyzers, and an increase in the number of product approvals globally. The integration of blood gas analyzers with electronic medical records and laboratory information systems also presents a significant opportunity for market expansion. In addition to providing accurate patient health monitoring, these integrated technologies help streamline workflow. Additionally, because of the rising demand for technology-integrated combination systems and point-of-care devices, the blood gas and electrolyte analyzer market is likely to experience significant expansion over the course of the forecasted years.
The market for blood gas and electrolyte analyzers is expanding as a result of a number of factors, including the availability of portable, benchtop, easy-to-use, accurate, and quick devices, an increase in government initiatives and strategies, and key market players who play a critical role in promoting diagnosis. Global healthcare spending has significantly increased, which has boosted the market even more. The older population is expanding, particularly, and more people are utilizing medical services, which are the primary contributors to the increase in healthcare expenditures. The high cost of the analyzers and the difficulty in interpreting the results of blood analyses, however, are expected to hinder the growth of the market for blood gas and electrolyte analyzers.
Point-of-care blood gas and electrolyte devices are most frequently used in the area of hospitals where patients are ventilated. An increase in treatments in NICUs, ICUs, CVOR, and emergency rooms has contributed to the market growth for point-of-care blood gas and electrolyte devices. Additionally, the rise in chronic diseases and cancer rates fuels market expansion. The market for blood gas and electrolyte analyzers will be significantly impacted by the rising disease burden and a fast growing geriatric population base in developing nations. Furthermore, older people are more susceptible to contracting a number of infectious and chronic ailments. Accurate and prompt blood sample analysis is required for the treatment of numerous illnesses.
As a result, a significant rise in individuals seeking emergency room care has occurred. The portable analyzer category accounted for more than 64% of the blood gas and electrolyte analyzers market as a result of the increased need for point-of-care blood gas and electrolyte analyzers and the expanding popularity of portable devices. These tools are quick, practical, inexpensive, and simple to use. They do not necessitate the participation of any trained medical personnel. The high cost of replacement and maintenance is the main barrier for this industry. During the forecast period, technological advancements in blood gas and electrolyte analysis equipment would further benefit the sector. Here, the market offers a lucrative opportunity to expand. Thus, driving the POC Blood Gas and Electrolyte market revenue.
The global POC Blood Gas and Electrolyte market segmentation, based on Product, includes consumables and instruments. Consumables segment dominated the global market in 2022. This is because there are more patients with chronic diseases, which increases the number of blood gas tests performed. The need for consumables also increases as a result of this.
The global POC Blood Gas and Electrolyte market segmentation, based on End User, includes hospitals & clinics and research institutions. Hospitals and clinics segment dominated the global POC Blood Gas and Electrolyte market in 2022. As hospitals care for the bulk of critically ill patients, this is attributed to an increase in patient hospitalizations.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America POC Blood Gas and Electrolyte Market dominated this market in 2022 (45.80%). This is a result of the prevalence of chronic diseases like diabetes, kidney disease, and liver disease as well as the increased funding for research and development by the government. In addition, a select few big competitors control the majority of the market for point-of-care blood gas and electrolyte analyses in this industry. The Centers for Disease Control and Prevention (CDC) estimate that 30.3 million Americans of all ages had a diabetes diagnosis in 2015. As more people develop diabetes, hospital traffic increases and there is a greater demand for POC blood gas and electrolyte devices. Further, In the North American area, the U.S. POC Blood Gas and Electrolyte market had the biggest market share, while the Canada POC Blood Gas and Electrolyte market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Europe POC Blood Gas and Electrolyte market accounted for the healthy market share in 2022. This is brought on by both the rising incidence of chronic illnesses including diabetes, kidney disease, and liver disease as well as the increased amount of money that governments around the world are allocating to research and development. The market for point-of-care blood gas and electrolyte analysis also only has a small number of significant companies. The Centers for Disease Control and Prevention (CDC) projected that 30.3% of all Americans had diabetes in 2015. Hospitals require point-of-care (POC) blood gas and electrolyte monitoring equipment as the incidence of diabetes rises. Further, In the European region, the German POC Blood Gas and Electrolyte market had the biggest market share, and the U.K. POC Blood Gas and Electrolyte market had the quickest rate of growth.
The Asia Pacific POC Blood Gas and Electrolyte market is expected to register significant growth from 2023 to 2032. Healthcare costs are rising as the number of obese and diabetic persons increases. The WHO estimates that the Asia Pacific area is home to 60% of the world's diabetics. Furthermore, it is anticipated that the existence of swiftly developing economies like China and India will promote market expansion during the course of the forecast period. Moreover, In the Asia-Pacific region, the Indian POC Blood Gas and Electrolyte market had the quickest rate of growth while China's POC Blood Gas and Electrolyte market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the POC Blood Gas and Electrolyte market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The POC Blood Gas and Electrolyte sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide POC Blood Gas and Electrolyte industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the POC Blood Gas and Electrolyte sector. Major players in the POC Blood Gas and Electrolyte market, including Siemens, Abbott, F. Hoffman-La Roche Ltd., Radiometer, Nova medical, Edan Instruments Inc., and Instrumentation Laboratory, are attempting to increase market demand by investing in research and development operations.
Sysmex Corp., a distributor of medical equipment. It carries out research, develops, creates, manufactures, and sells tools, reagents, and software programs that make medical exams, treatments, and sickness management easier. The company sells lab information systems, reagents, and diagnostic instruments to clinical laboratories. The business sells products for hemostasis, haematology, and urinalysis. It conducts research and development at its facilities in Japan, New Zealand, France, Germany, and the United States. The corporation operates in the Americas, Europe, the Middle East, Africa, and Asia-Pacific with the help of its subsidiaries. Its products are used by medical institutions. Japan's Hyogo is home to Sysmex's corporate headquarters. In June 2022, Sysmex America Inc., a well-known company in the diagnostics solutions industry, received FDA approval for the addition of a new feature to their N-10 Automated Haematology Analyzer with Blood Bank mode. This is the first automatic analyzer authorized for residual WBC counts.
Manufacturer and distributor of diagnostic imaging equipment, clinical and workflow systems and solutions, and systems for minimally invasive procedures, Siemens Healthineers AG (Siemens Healthineers) is a branch of Siemens AG. Mobile C-arms, hybrid operating rooms, angiography systems, ultrasound systems, computed tomography systems, magnetic resonance imaging systems, testing systems, and point-of-care (POC) testing systems are a few of the company's important products. It also offers commercial and digital services. Among the healthcare providers Siemens Healthineers serves are doctors, public health organizations, universities, state-run and commercial health insurance, pharmaceutical companies, and clinical research facilities. The company has activities in the Americas, the Middle East, Africa, Asia-Pacific, and Europe. Siemens Healthineers is headquartered in Erlangen, Germany. Siemens Healthineers unveiled the epoc Blood Analysis System in April 2021. On a single room-temperature-stable test card, it covers complete blood gas, a basic metabolic panel, hematocrit, and lactate. It is a portable, wireless system that delivers patient-side results in under a minute. Blood gas analysis is important for treating infected people in Covid-19 response activities.
· Siemens
· Abbott
· F. Hoffman-La Roche Ltd.
· Radiometer
· Nova medical
· Edan Instruments Inc.
· Instrumentation Laboratory
January 2021: A ground-breaking portable multi-gas monitor designed expressly to fulfill regulatory and periodic requirements, the MIR 9000P was unveiled by Envea. Two international regulations and standards that MIR 9000P complies with include the United States Environmental Protection Agency and the most recent European standard for portable automatic measuring devices, EN 15267-4.
March 2020: The Siemens Healthineers RAPIDPoint 500e Blood Gas Analyzer has been given the go-ahead by the US Food and Drug Administration for use in critical care facilities.
· Consumables
· Instruments
· Hospitals & Clinics
· Research Institutions
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 2.4 Billion |
|
Market Size 2023 |
USD 2.6 Billion |
|
Market Size 2032 |
USD 5.6 Billion |
|
Compound Annual Growth Rate (CAGR) |
8.60% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Product, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Siemens, Abbott, F. Hoffman-La Roche Ltd., Radiometer, Nova medical, Edan Instruments Inc., and Instrumentation Laboratory |
|
Key Market Opportunities |
New product launches and R&D among key players |
|
Key Market Dynamics |
Increasing prevalence of respiratory acidosis and increasing prevalence of various disorders |
The global POC Blood Gas and Electrolyte market size was valued at USD 2.4 Billion in 2022.
The global market is projected to grow at a CAGR of 8.60% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Siemens, Abbott, F. Hoffman-La Roche Ltd., Radiometer, Nova medical, Edan Instruments Inc., and Instrumentation Laboratory
The Consumables Product dominated the market in 2022.
The Hospitals & Clinics End User had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65324
Published on :
Sep 2023
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