The global blood gas analyzer/blood gas and electrolyte analyzer market is expected to grow at a 5-year CAGR of 4.6% from USD 506.9 million in 2016 to USD 636 million by 2021, driven mainly by growing demand for automated and point-of-care blood gas analyzer devices.
According to a new MarketsandMarkets (Pune, India) report, these analyzers have become indispensable tools for managing oxygenation and ventilation of patients in ICUs and emergency departments as they provide rapid analysis, offer short turnaround times, and are portable and easy to use. Other factors such as increasing geriatric population and subsequent rise in chronic diseases, growing adoption of technologically advanced biosesensors and data analysis software, higher demand for technology integrated combined systems, and miniaturization of POC blood gas analyzers, are also driving the market’s growth. However, an unfavorable reimbursement scenario globally and complexities in interpretation of data are proving to be the major challenges for the market’s growth.
The blood gas analyzer market is segmented based on major product brands (i-STAT, ePOC, GEM 3000, GEM 3500, GEM 4000, ABL800, ABL80, ABL90, cobas b 221, cobas b 121, cobas b 123, and RAPID Series). GEM 3000 is estimated to hold the largest share of the global market in 2016, while epoc is expected to grow at the highest CAGR by 2021, due to the product’s portability and point-of-care characteristics.
In terms of region, the global blood gas analyzer market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to command the highest market share in 2016, led by the increase in lifestyle diseases, rising product approvals, and more government initiatives. Europe is expected to have the second-largest share of the global market, driven by increase in POC testing-related conferences, new product launches, and growing demand for patient bedside testing. However, the Asia-Pacific region is estimated to grow at the highest CAGR between 2016 to 2021, on the back of increased initiatives by market players and expanding patient population.
The major players in the global blood gas analyzer market are Abbott Laboratories, Inc. (Abbott Park, IL, USA), Alere Medical, Inc. (Reno, NV, USA), Instrumentation Laboratory (Bedford, MA, USA), Radiometer (Copenhagen, Denmark), Roche Diagnostics Limited (Basel, Switzerland), and Siemens Healthcare (Erlangen, Germany).
