Blood Gas and Electrolyte Analyzer Market
Blood Gas and Electrolyte Analyzer Market By Type (Blood Gas Analyzers, Electrolyte Analyzers, Combined Analyzers, Consumables (Cartridges, Electrodes, Electrolytes)), By Region - Global Market Forecast 2020-2030
Blood Gas and Electrolyte Analyzer Market Insights
The global blood gas and electrolyte analyzer market is projected to expand at a staggering pace of nearly 9% CAGR during the forecast period of 2020-2030. The market is presently valued at US$ 2.4 billion, and is expected to more than double in value by the end of FY 2030.
Blood gas and electrolyte analyzers are used for testing various aspects of diseases in the blood. They are an essential means of identifying diabetes, blood vessel hemorrhage, drug consumption, etc.
Increasing technological developments and growing cases of chronic diseases are some of the key drivers for the expansion of the blood gas and electrolyte analyzer market size. Furthermore, rise in geriatric population, which is prone to many diseases, is also an important aspect of market growth.
The COVID-19 pandemic has proven to have quite adverse effects for the market across the globe, as more and more people have adopted the stay-at-home policy, which has reduced the demand for most products.
In addition, governments across the globe have taken measures such as implementing lockdowns, which has further affected the growth of the blood gas and electrolyte analyzer market.
Blood Gas and Electrolyte Analyzer Market Product Type Insights
The global blood gas and electrolyte analyzer market is segmented into blood gas analyzers, electrolyte analyzers, combined analyzers, and consumables, i.e. (cartridges, electrodes, and electrolytes). Out of these, the blood gas analyzers segment is the leading segment with a majority market share, covering approximately 45% of the total market.
This is mainly due to the high prevalence of chronic disorders across the globe. Advancements in technology and more innovative analyzers have resulted in convenient and easy-to-use devices such.
Regional Outlook of Blood Gas and Electrolyte Analyzer Market
Based on geography, the global blood gas and electrolyte analyzer market is bifurcated into five key regions - North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
The dominant region controlling a majority of the blood gas and electrolyte analyzer market share is North America, which constitutes to US$ 800 million of the total market, in terms of revenue. Driving factors for this region include massive prevalence of chronic disorders, unbiased support from the government, and rise in geriatric population.
Moreover, advanced healthcare infrastructure and immensely rising technological advancements are also amongst the predominant factors for the growth of the blood gas and electrolyte analyzer market in the region. Other regions such as Asia are is predicted to witness rapid surge in market growth over the coming years. This is mainly due to rising awareness about procedures involving such analyzers. Increasing demand for testing analyzers in newly established hospitals is also a key driver of the market.
Blood Gas and Electrolyte Analyzer Market: Key Players
The global blood gas and electrolyte analyzer market is extremely consolidated in nature, with a few key players such as Siemens healthcare, Radiometer Medical Aps, etc., holding a majority position in the market, in terms of revenue. Some key players in the market are Abbott Point of Care Inc., Alere, Inc., Erba Mannheim, Medica Corporation, Nova Biomedical, Radiometer Medical Aps, Roche Diagnostics, and Siemens Healthcare.
These competitors have utilized strategies such as brand mergers, acquisitions, and investments in research & development, thus, crucially influencing the competition in the market.
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The Analyst’s Viewpoint
“Notable developments in technology and an increased convenience factor, such as portable blood gas and electrolyte analyzers, are set to be the foremost drivers for the market during the forecast period.”
COVID-19 Impact on Blood Gas and Electrolyte Analyzer Market
The global blood gas and electrolyte analyzer market has seen predominant negative effects due to the onset of the COVID-19 pandemic caused by coronavirus. The key reason being the obstruction of the global supply and demand chain of the product. Government initiatives and implementation of lockdowns across several regions have adversely affected market progress.
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Blood Gas and Electrolyte Analyzer Market: About the Report
Fact.MR published an exclusive forecast report on the blood gas and electrolyte analyzer market for 2020 and 2030. The foremost objective of this report on the blood gas and electrolyte analyzer market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the blood gas and electrolyte analyzer market.
Also, the study on the blood gas and electrolyte analyzer market addresses key dynamics that are expected to diversify the sales and future prominence of blood gas and electrolyte analyzers.
The report on the blood gas and electrolyte analyzer market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the blood gas and electrolyte analyzer market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the blood gas and electrolyte analyzer market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for blood gas and electrolyte analyzers.
Supply chain analysis and pricing analysis of the blood gas and electrolyte analyzer market along, with the difference between blood gas and electrolyte analyzers used as per application, have also been included in the report to help readers clearly understand the product framework map in the blood gas and electrolyte analyzer market.
Blood Gas and Electrolyte Analyzer Market: Segmentation
Fact.MR has studied the blood gas and electrolyte analyzer market with detailed segmentation on the basis of type and key regions.
- Blood Gas Analyzers
- Electrolyte Analyzers
- Combined Analyzers
- Consumables (Cartridges, Electrodes, Electrolytes)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
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