The global blood gas and electrolyte analyzers market is expected to grow at a CAGR of 4.7% during the forecast period (2016-2024). It is estimated to reach around USD 715 million by 2024. These analyzers are used to measure the acidity level in blood. Moreover, they also measure the oxygen & carbon dioxide pressure in blood. The pressure of carbon dioxide measures the efficiency of acid removal; whereas the pressure of oxygen measures the efficiency of oxygen absorption in the body.
High incidence of chronic diseases can play a pivotal role in the growth of this industry. Sphere Medical has launched the ‘Proxima’ patient-dedicated blood gas analysis system. This machine can be connected to the data management solutions & lab information system interfaces of Conworx. It guarantees the seamless transfer of results of blood gas & electrolytes test from Proxima directly into the laboratory information system & records.
Furthermore, the new interface also allows direct connectivity into the CliniSys LIMS (laboratory information management system) via its PoCT solutions interface. Conworx, a subsidiary of Siemens Healthcare Gmbh, deals in medical device & PoC (point of care) connectivity and also in data management solutions.
Greater number of patients in emergency departments, ICUs (intensive care units), and in CCUs (critical care unit) with rising need for blood gas testing can boost the demand for analyzers. Surging healthcare expenditure and the launch of newer technologies can positively influence the worldwide industry.
Growing demand for integrated systems and high throughput could also fuel demand in the forecast period. The integration of these analyzers with electronic health records (EHRs) or with electronic medical records (EMRs) contributes to improved workflow and lesser manual errors. This may contribute to substantial industrial growth till 2024.
Rising cases of cancer, obesity, diabetes, respiratory disorders, and cardiovascular diseases may drive the blood gas and electrolytes industry. The adoption and acceptance of multi-parameter monitoring devices may propel industrial growth. This owes to increasing tests menus and the popularity of miniaturized devices.
The test results help in the diagnosis of conditions, such as chronic obstructive pulmonary disease (COPD), heart failure, drug overdose, infection, kidney failure, and even asthma. These analyzers form an integral part of the ICU and of emergency services since they enable the accurate diagnosis of diseases.
Moreover, the rising geriatric population is also anticipated to positively impact the industry over the forecast period. The World Health Organization (WHO) has predicted that the global population base of 65 years & above can rise from 7% in 2000 to 16% by 2050. Age brings with it risks that call for Point-of-care (POC) diagnostic testing. This may boost demand for the product in the years to come.
However, lack of trained professionals in remote areas may lead to sluggish product demand. Unfavorable reimbursement scenarios and complexities in the interpretation of data are the other obstacles to market growth. Economic crisis in Europe and cost cutting measures by healthcare facilities may negatively affect the worldwide market.
The global blood gas and electrolyte analyzers market is fragmented into products, applications, end-uses, and regions. Products include benchtop analyzers and portable analyzers. Portable analyzers held the highest market shares exceeding 60% in 2014. It is predicted to witness considerable growth till 2024. Demand for portable, automated, and self-monitoring devices with shorter analysis time, offering accurate results are factors that support demand for this product. Portable devices are gaining greater acceptance in the Middle East and in the European regions.
Benchtop analyzers on the other hand, are larger when compared to portable devices. Each comes equipped with an LCD, a keypad to enter information, and a slot to insert the sample tube. Based on applications, the global blood gas and electrolyte analyzers market is divided into blood gas analyzers, electrolyte analyzers, and combined analyzers. Blood gas analyzers are further segmented into product brands, such as ePOC, i-STAT, ABL80, RAPID Series, and Cobas b 121 among many others.
Combined analyzers held the largest market share in 2014. This segment may continue dominating the market because of demand for low maintenance analyzers. It may expand at a healthy CAGR of nearly 5.5% from 2016 to 2024.
This device can provide results for both electrolyte count and also for blood count present in a sample of blood, serum, urine, and dialysate or plasma. It can also analyze creatinine, nitrogen, and electrolytes in a single test sample. A broad portfolio of commercialized products coupled with the availability of large test volumes supports the demand for combined analyzers.
POC, hospitals, diagnostic centers, and clinical laboratories are the key end-users in the global blood gas and electrolyte analyzers market. POC is expected to be the fastest growing segment over the coming eight years. Ongoing technological developments in handheld or portable devices could fuel the demand for POC analyzers in the near future.
POC devices are primarily used in cardiothoracic surgical departments, emergency transport systems, and in critical care departments. Decentralization of healthcare establishments for cost minimization may boost the demand for POC diagnostic solutions. Regions in the worldwide industry are North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa (MEA).
North America held the largest market share in 2014. Greater patient admissions in emergency wards and in ICUs (intensive care units) can propel the regional market in the forecast period. The Latin America market stood at over USD 30.6 million in 2015. It is projected to grow at a CAGR of more than 5.5% from 2016 to 2024.
Asia Pacific may grow at a CAGR exceeding 6.6% in the years to come. This growth can be attributed to rising disposable incomes, especially in India & China. Moreover, the implementation of governmental initiatives & programs in developing economies could support market growth. Enhanced medical infrastructure and huge unmet healthcare needs regarding target diseases; such as diabetes, hypertension, and cancer are the key regional drivers.
The United Nations Fund for Population Activities (UNFPA) introduced the Country Program Action Plan (CPAP) to prevent diseases; and to improve healthcare services in the Middle East & Africa. This may create opportunities for further industry growth.
Prominent companies in the global blood gas and electrolyte analyzers market are Siemens Healthcare, Abbott Laboratories, Alere, Inc., and Roche Diagnostics. Product portfolio expansion, collaboration, mergers & acquisitions are the main market expansion strategies adopted by these players. Erba Mannheim, a Germany based firm dealing in diagnostic products acquired Maxmat S.A., a French company that deals in medical laboratory devices. The acquisition had helped the former to cater to changing consumer needs.
Research Support Specialist, USA