DUBLIN--(BUSINESS WIRE )--The "Blood Gas and Electrolyte Analyzers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Blood Gas and Electrolyte Analyzers Market to Reach $985 Million by 2026
Amid the COVID-19 crisis, the global market for Blood Gas and Electrolyte Analyzers estimated at US$814.7 Million in the year 2022, is projected to reach a revised size of US$985 Million by 2026, growing at a CAGR of 5.1% over the analysis period. Portable, one of the segments analyzed in the report, is projected to record 5.8% CAGR and reach US$681.6 Million by the end of the analysis period.
Growth in the global market is led by factors such as improving infrastructure in diagnostic centers, hospitals and clinical laboratories and rise in integration of critical equipment such as analyzers in ICUs, NICUs, and emergency and trauma units.
Market growth is significantly boosted by the rising number of patients in critical care units and intensive care units (ICU); and the increasing demand for integrated, high-throughput systems that measure multiple parameters (such as creatinine, urea, nitrogen) in a short time, which is crucial for emergency situations.
Another driver for the global market is increasing adoption of these devices across hospitals, emergency wards and diagnostic centers. The growing relevance of point-of-care diagnosis within the healthcare industry due to its numerous advantages such as bedside care is poised to propel the market demand.
Increasing spending on handheld, compact blood gas analyzers offering faster results and addressing needs of critical care services, operation rooms and emergency healthcare services will further boost global demand. Advanced devices are expected to facilitate functions like self-monitoring along with little intervention of lab or respiratory staff through automation.
Ongoing advances in sensor and analyzer technology are anticipated to bring devices and testing of blood gas closer to patients, while allowing medical professionals to efficient monitor different conditions.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Benchtop segment is readjusted to a revised 3.8% CAGR for the next 7-year period. The growing penetration of Point-of-Care (PoC) patient monitoring instruments, coupled with continued innovations and technology improvements taking place in the portable / handheld blood gas analyzers is encouraging end users to switchover to the PoC version.
Benchtop blood gas analyzer, also known as central laboratory analyzer, is generally placed in central laboratories of large hospitals, to undertake high volumes of blood gas testing. Due to the time critical nature of blood gas tests, especially in critical care departments, benchtop analyzers are moving out of the central laboratory and are being placed in near-patient locations in critical care areas such as ICU, CCU, ED, and OR.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900