Blood gas analysis is performed for critically ill patient suffering from a respiratory or metabolic disorder. In blood gas analysis includes measurement of the amount of oxygen, carbon dioxide, and the acidity of pH in the blood as well as concentrations of other parameters such ascreatinine, electrolytes, glucose, hemoglobin, and lactate. Blood gas analyzers use electrodes to determine pH, partial pressure of carbon dioxide, and amount of oxygen in the blood. Imbalances in oxygen, carbon dioxide, and pH levels in blood can indicate the presence of certain medical conditions such as heart failure, hemorrhage, kidney failure, chemical poisoning, uncontrolled diabetes, or drug overdose.
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The global blood gas analyzers market size was valued at US$ 594.6 million in 2017 and is expected to witness a CAGR of 5.5% over the forecast period (2018 – 2026).
Increasing demand for point of care testing is expected to drive the blood gas analyzers market revenue
Blood gas analyzers are used for patients suffering from certain medical conditions, including asthma and Chronic Obstructive Pulmonary Disease (COPD). Emergency and intensive care departments also use blood gas analyzers as crucial part for assessment of patient’s clinical status.
Increasing geriatric population at high risk of various chronic diseases, which require frequent testing of blood gas and Point-of-Care (PoC) diagnostic evaluation is expected to drive growth of the global blood gas analyzer market. According to the U.S. Census Bureau, 2015, population of age 65 years and above is expected to increase over 60% during 2015 – 2030. Moreover, increasing number of patients being treated in ICUs and emergency departments is also expected to fuel the market growth. According to the WHO, in 2015, around three million deaths were caused by chronic diseases, which accounted for 5% of all the deaths worldwide. This in turn led to significant increase in emergency cases demanding for blood gas analyzers.
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Blood Gas Analyzers Market - Regional Insights
On the basis of region, the global blood gas analyzers market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America blood gas analyzers market is expected to generate significant revenue share during the forecast period, owing to increasing prevalence of lifestyle-induced diseases and emergency department visits. According to the Centers of Disease Control and Prevention (CDC) report in 2017, around 1.7 million emergency department visits with chronic and unspecified bronchitis were recorded in the U.S.
Blood Gas Analyzers Market - Competitive Landscape
Key players operating in the global blood gas analyzers market include, Abbott Laboratories, Alere, Inc., Bayer AG, Dalko Diagnostics, GE Healthcare, Instrumentation Laboratory, Nova Biomedical, Radiometer, Roche Diagnostics, Siemens Healthcare, and Sphere Medical.
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