Blood Gas and Electrolyte Analyzers market revenue is anticipated to experience a high growth over the coming years, driven by rise in geriatric population base resulting in the high occurrence of chronic ailments. As per the WHO estimates, the growth rate of the aging population (65 and above) across the globe is projected to be as high as 16% by 2050. Growing requirements for PoC diagnostic evaluations will spur blood gas and electrolyte analyzers industry over the coming years. According to Global Market Insights, Inc., “Blood Gas and Electrolyte Analyzers market size to surpass USD 700 million by 2023.” High demand for PoC analyzers to enhance quality of patient care and cost reduction is expected to favorably influence the industry.
Blood Gas and Electrolyte analyzers find extensive applications in point-of-care (PoC) diagnostics and central labs. Blood Gas and Electrolyte analyzers market value in the central labs segment estimated over USD 300 million in 2015, is expected to observe massive growth over the next few years, driven by rise in patient population suffering from chronic ailments along with high requirements for multi-parameter & integrated systems. Rapidly expanding Point-of-care diagnostics segment will propel the industry growth, owing to its ability to reduce the turnaround period and clinical decision time.
Germany Blood Gas & Electrolyte Analyzers Market Size, by Product, 2012- 2023 (USD Million)
Portable and benchtop are the major blood gas and electrolyte analyzers. Portable blood gas and electrolyte analyzers market share worth USD 300 million in 2015, is estimated to grow considerably over the coming years. Enhanced use of PoC analyzers, owing to its ability to deliver quick & accurate results, is expected to drive the growth.
Below are the regional highlights influencing blood gas and electrolyte analyzers market over 2016-2024
Market players will try to expand their product portfolio and geographical presence by implementing key business growth strategies such as strategic collaborations and joint ventures. Key industry participants include Siemens Healthcare, Instrumentation Laboratory, Alere Medical Private Limited, Roche Diagnostics, and Cerner Corporation.