Albany, NY, May 02, 2019 (GLOBE NEWSWIRE) -- According to TMR analysts, the blood gas and electrolyte analyzers market stood at US$1.7 bn in 2017. The market is expected to witness a remarkable 9.0% CAGR during 2018-2026, consequently fueling growth. As expected, the hand-held devices are a major selling point for most vendors. Among various regions, North America and Europe are expected to fuel the market’s expansion. Rise in geriatric population in these countries are expected to provide a significant impetus for the region in the near future. India and China are also expected to create several new opportunities for growth in the near future.
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Reliability of Portable Devices to Propel the Blood Gas and Electrolyte Analyzers Market
The portable device segment is witnessing a robust growth in ambulatory and emergency care in the blood gas and electrolyte analyzers market. These devices are extremely handy for visiting physicians, who regularly look after patients with chronic illnesses. The high costs of hospitalizations necessitates home stays for many patients after the completion of the main surgery. Afterwards, they regularly require a thorough inspection and monitoring. Furthermore, sedentary lifestyle, rising stress, and growing cases of lifestyle diseases such as diabetes are leading to higher demand for portable devices.
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Earlier, these devices served in extreme cases, wherein a patient could not be easily moved to the hospital. However, these devices are extremely reliable and promise to replace the heavy and more cumbersome conventional practices. Their increasing use and growing adoption directly by consumers are expected to fuel major growth for the blood gas and electrolyte analyzers market.
Combination Analyzers Emerge as the Most Lucrative Opportunity
Combination analyzers are gaining quick traction in the blood gas and electrolyte analyzers market. Growing cost-efficiency, lack of perfect substitutes, and development of various consumables are driving demand. Consumables such as cartridges, electrodes, electrolytes, and other accessories create several opportunities for growth. Additionally, the product offers premium valuation, thanks to its convenience and user-friendly nature. Furthermore, the rising demand for these products is leading major players in the blood gas and electrolyte analyzers market to invest more in all-in-one product category, lowering focus on conventional alternatives. The high costs of the product can limit the growth of the market. Emerging markets globally, are quite price sensitive. Hence, combination analyzers can find relatively few takers. However, rising elderly population in North America and Europe along with rising reimbursement mechanisms in developing countries. These factors are expected to drive robust growth for the blood gas and electrolyte analyzers market.
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The global blood gas and electrolyte analyzers market is witnessing a tremendous innovation in recent times. Rising trends of hand-held portable devices and lowering costs of instruments are necessary to keep an eye on for every investor. Additionally, the advent of nanoparticles are also making ways for more feature-rich wearable devices. Wearable devices promise higher revenue margins for many players in the blood gas and electrolyte analyzers market.
The global blood gas and electrolyte analyzers market depicts a fragmented and competitive landscape. Growing number of small players in the market are expected to drive the competition, reports Transparency Market Research (TMR). Some major players in the blood gas and electrolyte analyzers market are Instrumentation Laboratory, Radiometer, F. Hoffmann-La Roche Ltd., Siemens Healthineers, and Abbott Laboratories.
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Information provided in this review is obtained from a TMR report, titled, “Blood Gas and Electrolyte Analyzers Market (Product Type - Blood Gas Analyzers, Electrolyte Analyzers, Combination Analyzers, Consumables) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”.
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