Blood Gas & Electrolyte Analyzer Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.51 Billion |
| Market Size (2029) | USD 3.30 Billion |
| CAGR (2024 - 2029) | 5.63 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Blood Gas & Electrolyte Analyzer Market Analysis
The Global Blood Gas And Electrolyte Analyzer Market size is estimated at USD 2.51 billion in 2024, and is expected to reach USD 3.30 billion by 2029, growing at a CAGR of 5.63% during the forecast period (2024-2029).
During the pandemic, several healthcare services were postponed, and non-emergency hospitalization was canceled, adversely impacting the market initially. However, a rise in the hospitalization rate of people suffering from COVID-19 increased the demand for blood gas and electrolyte analyzers in hospitals, clinics, and point-of-care centers and positively influenced the industry's growth. For instance, as per the Siemens Healthineers 2022 annual report, the point-of-care sub-segment, which includes blood gas analyzers under the diagnostic segment, recorded ongoing recovery in patient volumes as markets continued to return to normalized levels following the COVID-19 lockdowns. Thus, the market initially had a slight adverse impact and later attained growth, expected to continue over the coming years.
The growing number of patients in emergency units of hospitals, rapid urbanization, changing lifestyles, chronic disorders, and technological advancements in blood gas analyzers are the major factors driving the blood gas and electrolyte analyzer market over the forecast period. These analyzers offer various advantages for emergency care patients and are ideal in the point-of-care testing segment. Hence, the high burden of emergency care patients increases the need for blood gas and electrolyte analyzers. For instance, per the Australian Bureau of Statistics 2022, there were 8.79 million presentations to emergency departments in public hospitals in Australia, a rate of 339 presentations per 1,000 population in 2021-2022. In medical diagnosis, blood gas and electrolyte analyzers determine a patient's disease and help prevent these high burdens of critical and emergency conditions, contributing to market growth.
Furthermore, introducing new products in the market with advanced models increases the demand for these products, which is expected to have significant growth in the market. For instance, in September 2021, Sensa Core Medical Instrumentation launched its flagship Blood Gas Analyzer ST-200CC Blood Gas Analyzers Ultra Smart for hospitals, clinics, and diagnostics centers through its network in India. It is the highly advanced blood gas model of the sensor, and it is a completely automated, microprocessor-controlled electrolyte system that uses current direct measurement with ION selective electrode (ISE), Impedance (Hct), and Amperometry (pO2) technology to make arterial blood gas analysis and electrolyte measurements.
Thus, the factors above are witnessed to drive the demand for the blood gas electrolyte analyzer. However, the major restraining factors in the market include the cost of the analyzer, reimbursement issues, and complicated regulations.
Blood Gas & Electrolyte Analyzer Market Trends
Portable Under Modality Segment is Expected to Witness Growth Over the Forecast Period
The portable devices are easy to use and handle and have minimum maintenance requirements, which helps their adoption rate. Several companies are investing in the development and marketing of these products. In the emergency and critical care settings, the doctors/physicians and laboratorians must build upon the synergistic efforts toward using portable devices in point-of-care testing (POCT) and conventional laboratory settings. The benefits of using such portable devices drive the adoption rate of these products in the market over the forecast period. In addition, the increased funding for research and development on hematology is expected to significantly impact segment growth.
The comparative study results of normal blood gas analyzers with portable blood gas analyzers increase the demand for portable devices due to easy usage with the same efficiency. For instance, as per the study report published by Frontiers in Physiology in January 2021, compared to the reference blood gas analyzers, the portable device's blood gas analysis accuracy was sufficient for clinical use, which can also be used under challenging field conditions. Thus, the significant results of portable blood gas analyzers on standard analyzers increase the demand for portable devices, likely boosting the segment's growth over the forecast period.
Furthermore, the new expansion of manufacturing capabilities for portable blood gas analyzers is expected to have significant growth in the market. For instance, in June 2021, Siemens Healthineers planned expansion of its Ottawa, Ontario manufacturing facility that manufactures the epoc Blood Analysis System, a handheld, wireless solution. The expanded facility provides an additional 24,000 square feet to support new manufacturing lines to meet increased demand for the Point of Care healthcare business. Thus, the factors above, like comparative study results and new manufacturing expansion, increase the widespread usage of these devices, which is expected to have significant growth in the market over the forecast period.
North America is Expected to have Significant Share in the Market Over the Forecast Period
North America is expected to have a significant share in this market over the forecast period due to the large presence of domestic and international medical device companies from developed and emerging markets. The region is expected to witness high demand for products such as arterial blood gas machines, electrolyte machines, blood oxygen analyzers, etc.
High healthcare expenditure and rapid adoption of advanced technologies are expected to provide highly rewarding opportunities for this region's blood gas and electrolyte analyzer companies. The better network between the multispecialty hospitals with the insurance companies and medical device companies drives the importance of this market in the region. In addition, the market players are providing various blood gas analyzers to various institutions for training, which is expected to have widespread usage in the region. For instance, in November 2022, Siemens Healthineers generously donated their epoc Blood Gas Analysis System to the Lawrence S. Bloomberg Faculty of Nursing’s Simulation Lab to improve learning opportunities for students and remote nursing care.
Furthermore, the growing preference for point-of-care testing by companies and hospitals fuels the growth of the studied market in the region. For instance, the American Association for Clinical Chemistry funded USD 5,000 for point-of-care testing research in 2021. This research grant is expected to help in research and technological advancement, particularly intended for clinical laboratorians to explore new ideas in areas where funds are normally unavailable. Such initiatives by government authorities are expected to foster regional market trends.
Blood Gas & Electrolyte Analyzer Industry Overview
The blood gas and electrolyte analyzer market is moderately fragmented. The global key players are manufacturing the majority of the blood gas and electrolyte analyzers. Some of the key players in the market include Abbott Laboratories, Dalko Diagnostics, F Hoffman La Roche Ltd., Medica Corporation, Nova Biomedical, Siemens Healthcare GmbH, Werfen and Danaher Corporation (Radiometer).
Blood Gas & Electrolyte Analyzer Market Leaders
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Abbott Laboratories
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Medica Corporation
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Danaher Corporation (Radiometer)
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Siemens Healthcare GmbH
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F. Hoffmann-La Roche Ltd
*Disclaimer: Major Players sorted in no particular order
Blood Gas & Electrolyte Analyzer Market News
- March 2023: Transasia continued its commitment towards social welfare by donating Erba analyzers, which include hematology analyzers and E.C. 90 next-generation electrolyte analyzers with bio-sensor technology, to the Indian Red Cross Society’s Bel-Air Super Speciality Hospital, Wai in Satara district of Maharashtra.
- July 2022: Inspira Technologies OXY B.H.N. Ltd. revealed the development of the HYLA blood sensor. Inspira's non-invasive optical blood sensor was designed to perform real-time and continuous blood monitoring to alert physicians of immediate changes in a patient's clinical condition without taking actual blood samples from patients. The HYLA blood sensor targets the potential USD 2.5 billion Point of Care Testing, ABG (Arterial Blood Gas) analyzer market.
Global Blood Gas And Electrolyte Analyzer Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Number of Patients in Emergency Units of Hospitals
- 4.2.2 Technological Advancements in Blood Gas and Electrolyte Analyzers
- 4.2.3 Increasing Government and Private Sector Participation in Improving Healthcare Facilities
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4.3 Market Restraints
- 4.3.1 High Cost of Analyzers
- 4.3.2 Issues Regarding Regulation and Reimbursement
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Modality
- 5.1.1 Benchtop
- 5.1.2 Portable
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5.2 By Product
- 5.2.1 Blood Gas Analyzer
- 5.2.2 Electrolyte Analyzer
- 5.2.3 Combined Analyzer
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5.3 By End-User
- 5.3.1 Centralized Laboratories
- 5.3.2 Point of Care
- 5.3.3 Other End-Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Abbott Laboratories
- 6.1.2 Dalko Diagnostics
- 6.1.3 Transasia Bio-Medicals (Erba Diagnostics)
- 6.1.4 F. Hoffmann-La Roche Ltd
- 6.1.5 Medica Corporation
- 6.1.6 Nova Biomedical
- 6.1.7 Siemens Healthcare GmbH
- 6.1.8 Werfen
- 6.1.9 Danaher Corporation (Radiometer)
- 6.1.10 Bioevopeak Co., Ltd.
- 6.1.11 Sensa Core Medical Instrumentation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityBlood Gas & Electrolyte Analyzer Industry Segmentation
As per the scope of the report, blood gas and electrolyte analyzers are useful medical devices for detecting metabolic imbalances and measuring renal and cardiac functions. It is traditionally performed in the clinical chemistry laboratory, but it is now becoming popular and common in point-of-care testing. The Blood Gas and Electrolyte Analyzer Market is segmented by Modality (Benchtop and Portable), Product (Blood Gas Analyzer, Electrolyte Analyzer, and Combined Analyzer), End-User (Centralized Laboratories, Point of Care, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.
| By Modality | Benchtop | |
| Portable | ||
| By Product | Blood Gas Analyzer | |
| Electrolyte Analyzer | ||
| Combined Analyzer | ||
| By End-User | Centralized Laboratories | |
| Point of Care | ||
| Other End-Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Global Blood Gas And Electrolyte Analyzer Market Research Faqs
How big is the Global Blood Gas And Electrolyte Analyzer Market?
The Global Blood Gas And Electrolyte Analyzer Market size is expected to reach USD 2.51 billion in 2024 and grow at a CAGR of 5.63% to reach USD 3.30 billion by 2029.
What is the current Global Blood Gas And Electrolyte Analyzer Market size?
In 2024, the Global Blood Gas And Electrolyte Analyzer Market size is expected to reach USD 2.51 billion.
Who are the key players in Global Blood Gas And Electrolyte Analyzer Market?
Abbott Laboratories, Medica Corporation, Danaher Corporation (Radiometer), Siemens Healthcare GmbH and F. Hoffmann-La Roche Ltd are the major companies operating in the Global Blood Gas And Electrolyte Analyzer Market.
Which is the fastest growing region in Global Blood Gas And Electrolyte Analyzer Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Blood Gas And Electrolyte Analyzer Market?
In 2024, the North America accounts for the largest market share in Global Blood Gas And Electrolyte Analyzer Market.
What years does this Global Blood Gas And Electrolyte Analyzer Market cover, and what was the market size in 2023?
In 2023, the Global Blood Gas And Electrolyte Analyzer Market size was estimated at USD 2.37 billion. The report covers the Global Blood Gas And Electrolyte Analyzer Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Blood Gas And Electrolyte Analyzer Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Blood Gas And Electrolyte Analyzer Industry Report
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