Higher Efficacy of Blood Gas and Electrolyte Analyzers Driving Adoption in ICUs and Emergency Care
Posted on 31 Aug 2022
Blood gas and electrolyte analyzers are extensively used for the patients with conditions such as diabetes, hemorrhage, drug overdose, and others. These analyzers detect the blood levels, oxygen concentration, and several parameters for early diagnosis. The global blood gas and electrolyte analyzers market is projected to grow at a CAGR of 5.6% between 2022 to 2030, to reach USD 6.5 billion by 2030, driven by the increasing use of blood gas and electrolyte analyzers in intensive care units (ICUs) and emergency departments. Additionally, the growing adoption of electronic health records (EHR) and development of advanced blood gas analyzers with laboratory information systems, along with higher investment in healthcare services by governments across the world is also expected to drive market growth.
These are the latest findings of Fact.MR (Dublin, Ireland), a market research and consulting agency.
Integration of advanced technology in healthcare devices has been a boon to patients as well as the healthcare industry. The availability of portable blood analyzers coupled with the introduction of automated analyzers have led to increased demand in the market. Portable and fully automated blood and gas electrolyte analyzers require only anticoagulated blood sample and can measure multiple parameters. Hence, healthcare professionals are using these to improve the handling process and accuracy of blood tests. As a result, the demand for blood and gas electrolyte analyzers is predicted to surge by 1.5x over the forecast period.
Going forwards, the efficacy of blood gas and electrolytes in treating patients in critical and emergency situations is likely to drive demand. Consistent quality control and accuracy in error detection will continue to make blood gas and electrolyte analyzers the preferred choice for healthcare providers. Moreover, lack of alternative devices and techniques for measuring oxygen concentration and other parameters for chronic illnesses will also drive sales. However, the high cost of blood analyzers and electrolytes is likely to slow down their adoption rate, especially in the developing countries. In addition, the availability of refurbished devices and slow/non-approval of blood analyzers from FDA could hamper market growth.
By product type, the blood gas analyzers segment is expected to lead the market, owing to its growing use in disease detection. Based on modality, portable blood gas and electrolyte analyzers are anticipated to remain the preferred choice in the healthcare industry owing to their ease of use and affordability. In terms of end user, diagnostic centers and clinical laboratories are expected to witness a steady growth over the projection period. Geographically, North America is expected to be the world’s largest market for blood gas and electrolyte analyzers, with the U.S. leading the demand, while South Asia is expected to be the most lucrative market for blood gas and electrolyte analyzers, with India spearheading the region’s growth through 2022 and beyond.
