Blood Gas Analyzer Market Dynamics: Trends and Forecasts
The global blood gas analyzer market was estimated to be USD 506.9 Million in 2016, which would reach USD 636 Million by 2021, growing at a CAGR of 4.6% during 2016 to 2021. Blood gas analyzers are used in conditions such as diabetes, blood vessel hemorrhage, drug overdose and shock for testing several parameters including oxygen concentration, hydrogen ion, electrolytes and partial pressure of carbon dioxide and oxygen.
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Owing
to the increasing demand for point of care and automated blood gas
analyzers, this market is expected to witness decent growth in the
coming years. An increase in number of patients being treated in ICUs,
NICUs and emergency departments would further accelerate the pace of
growth of blood gas analyzers market.
The blood gas analyzer
market is segmented on the basis of major product brands (i-STAT, epoc,
GEM 3000, GEM 3500, GEM 4000, ABL800, ABL80, ABL90, cobas b 221, cobas b
121, cobas b 123, RAPID Series) in four major regional segments,
namely, North America, Europe, APAC, and Rest of the World. This report
analyzes the market from both value and volume perspectives. GEM 3000 is
expected to account for the largest share of the global blood gas
analyzers market in 2016. This is mainly because GEM 3000 delivers
real-time system diagnostics, requires low labor-intensive system
calibration, and eliminates lengthy equipment training and possible
human errors. On the other hand, epoc (Alere) is expected to be the
fastest-growing brand in the coming years.
North America is
expected to account for the largest market share in 2016, which is
primarily attributed to the growing prevalence of lifestyle diseases,
increasing number of product approvals, and rising government
initiatives in this region. However, the APAC Blood Gas Analyzers market
is projected to witness a higher growth during the forecast period due
to the growing initiatives by market players, increasing patient
population base, and rising number of partnerships and joint ventures.
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The
major players in the global blood gas analyzer market are Abbott
Laboratories (U.S.), Alere, Inc. (U.S.), Instrumentation Laboratory
(U.S.), Radiometer (Denmark), Roche Diagnostics (Switzerland), and
Siemens Healthcare (Germany). The top 3 companies together account for a
share of more than 70% of the global market. These players have adopted
several strategies to remain competitive in this space. Enhancement of
existing products, development of new products, collaborations and
agreements are among the top strategies adopted by the leading companies
in blood gas analyzers market.
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